Why Is Cadence (CDNS) Up 6.9% Since Last Earnings Report?

Core Viewpoint - Cadence Design Systems (CDNS) shares have increased by approximately 6.9% over the past month, outperforming the S&P 500, but there are concerns about whether this positive trend will continue leading up to the next earnings release [1] Estimates Movement - Estimates for Cadence have trended downward over the past month, indicating a negative shift in expectations [2] VGM Scores - Cadence has a strong Growth Score of A but is rated F for Momentum and Value, resulting in an overall VGM Score of D, placing it in the lowest quintile for the value investment strategy [3] Outlook - The downward trend in estimates suggests a Zacks Rank of 3 (Hold) for Cadence, with expectations for an in-line return in the coming months [4] Industry Performance - Cadence is part of the Zacks Computer - Software industry, where SAP has seen a 3.2% increase in shares over the past month. SAP reported revenues of $9.48 billion for the last quarter, reflecting an 8.6$0.88 to $1.51 [5] SAP Earnings Expectations - SAP is projected to report earnings of$1.62 per share for the current quarter, representing a 37.3% year-over-year increase, with a slight upward revision of 0.5% in the Zacks Consensus Estimate over the last 30 days. SAP also holds a Zacks Rank of 3 (Hold) and has a VGM Score of D [6]