Cadence Design Stock Drops Despite Strong Q4, Analysts See Upside

Shares of Cadence Design Systems Inc CDNS were trading lower on Wednesday, despite the company reporting upbeat fourth-quarter results.The results came in amid an exciting earnings season. Here are some key analyst takeaways.Piper Sandler On Cadence Design SystemsAnalyst Clarke Jeffries reaffirmed an Overweight rating, while raising the price target from $318 to $328.Cadence Design Systems reported fourth-quarter revenues at $1.356 billion, representing 27% year-on-year growth and beating the midpoint of gu ...