The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Cadence Design Systems (CDNS) .Cadence currently has an average b ...

Core Viewpoint - Cadence Design Systems, Inc. (CDNS) is positioned favorably for an upcoming earnings report, with positive earnings estimate revisions indicating potential for an earnings beat [1][2] Group 1: Earnings Estimates - Analysts have recently raised their earnings estimates for CDNS, which is a strong indicator of favorable trends leading up to the earnings report [1] - The Most Accurate Estimate for the current quarter is higher than the Zacks Consensus Estimate of $1.13 per share, suggesting positive sentiment among analysts [1] Group 2: Earnings ESP and Market Performance - CDNS has a Zacks Earnings ESP of +0.22%, indicating a positive outlook heading into earnings season [1] - A positive Zacks Earnings ESP has historically resulted in positive surprises and outperformance in the market, with a 70% success rate for stocks with a positive Earnings ESP and a Zacks Rank of 3 or better [2] - CDNS holds a Zacks Rank of 2 (Buy), further supporting the potential for a positive earnings surprise [2]

Cadence Design Systems (CDNS) is scheduled to release first-quarter 2024 results on Apr 22.For the first quarter, Cadence expects total revenues in the range of $990 million-$1.01 billion. The Zacks Consensus Estimate is currently pegged at $1.01 billion, suggesting a decline of 0.8% from a year ago.Management projects non-GAAP earnings per share (EPS) in the range of $1.10-$1.14. The Zacks Consensus Estimate is pegged at $1.13, indicating a decline of 12.4% from the prior-year quarter’s reported figure.The ...

Cadence Design Systems (CDNS) ended the recent trading session at $310.10, demonstrating a +1.81% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.74%. Meanwhile, the Dow experienced a drop of 0.01%, and the technology-dominated Nasdaq saw an increase of 1.68%.Shares of the maker of hardware and software products for validating chip designs witnessed a loss of 0.53% over the previous month, trailing the performance of the Computer and Technology sector with its ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Let's take a look at what these Wall Street heavyweights have to say about Cadence Design Systems (CDNS) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Cadence currently has an ave ...

Economic Overview - The US economy shows a promising growth trajectory, with personal spending in February exceeding economist predictions and consumer sentiment at its highest in months [1] - Federal Reserve Chair Jerome Powell expresses optimism about the economy's ability to handle potential challenges, allowing policymakers to make informed decisions [1] - The AI industry is projected to grow significantly, with a market size expected to reach $1.3 trillion by 2032 [1] SoundHound AI (SOUN) - SoundHound AI, a voice and speech recognition company, experienced a market cap increase from $520 million in 2023 to $1.82 billion in 2024, a rise of 247.81% [2] - The company reported revenue of $45.9 million, reflecting a substantial year-over-year growth of 47.36% [2] - SoundHound's gross profit margin stands at 75.35%, significantly higher than the sector median of 48.66% [2] - A recent partnership with Nvidia for on-chip voice AI enhances SoundHound's product maturity and reliability [2] Microsoft (MSFT) - Microsoft has achieved a market cap of $3.09 trillion, marking it as the largest technology company globally [3] - The company's valuation has increased by over 50% year-over-year in 2024 [3] - In Q4 2023, Microsoft reported revenue of $62.02 billion, a 17.6% increase year-over-year, with net income rising 33% to $21.9 billion [4] - Microsoft is focusing on AI competition through collaborations with industry leaders like Nvidia, which is expected to enhance its valuation [4] Cadence Design Systems (CDNS) - Cadence Design Systems is a leading electronic design automation provider, contributing 12% of the industry's total revenue [5] - The company reported revenues of $4.09 billion for the financial year of 2023, with net income growing by 22.64% [5] - Diluted EPS rose by 23.62% to $3.82, and the company reported a levered free cash flow margin of 27.27% [5] - Cadence's software is sought after by major companies like Apple and Meta for chip design solutions [6]

On Mar 20, after the FOMC meeting, the Fed kept the benchmark lending rate constant in the range of 5.25-5.5%. The range of the Fed fund rate has been steady since July 2023. Its current level marks the highest in 23 years. Since the beginning of 2024, market participants have been busy predicting when the central bank will cut interest rate first time.Recently, a large section of financial researchers and economists were worried about the rate cut as the inflation rate remains sticky supported by a resilie ...

Cadence Design Systems (CDNS) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this maker of hardware and software products for validating chip designs have returned +9%, compared to the Zacks S&P 500 composite's +3.6% change. During this period, the Zacks Computer - Software industry, which Cadence falls in, has gained 4.6%. The key question now is ...

Cadence Design Systems, Inc (CDNS) top-line performance is gaining from solid demand for its diversified product portfolio.Cadence offers products and tools that help customers design electronic products. The company’s core electronic design automation software and services enable engineers to develop different types of ICs.Solid financial performance has also led to a good run on the trading front.  The company’s shares have gained 55.3% in the past year compared with the sub-industry’s and S&P 500 Composi ...

Cadence Design Systems (CDNS) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since ...