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Fly News Breaks for July 23, 2019
CDNS
Jul 23, 2019 | 09:12 EDT
DA Davidson analyst Thomas Diffely raised his price target on Cadence Design to $80 and kept his Buy rating after its Q2 earnings beat and in-line revenue, saying the company continues to "benefit from strong design activity" across several end markets and also raised its guidance in spite of the "tumultuous" climate in China. The analyst adds that Cadence Design's core business is "firing on all cylinders", and the company's new initiatives are creating significant long term market expansion opportunities.
News For CDNS From the Last 2 Days
CDNS
Apr 24, 2024 | 16:01 EDT
CDNS
Apr 23, 2024 | 06:49 EDT
Piper Sandler lowered the firm's price target on Cadence Design to $318 from $334 and keeps a Neutral rating on the shares. The firm notes the company reported solid Q1 results, but Q2 guide came below consensus on revenue and EPS. This was at odds with commentary noting a record bookings quarter, accelerating backlog growth and the FY24 revenue guide being raised by $10M at the midpoint.
