New Buy Rating for Cadence Design (CDNS), the Technology Giant
In a report released today, Jason Celino from KeyBanc maintained a Buy rating on Cadence Design, with a price target of $405.00.
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According to TipRanks, Celino is an analyst with an average return of -0.5% and a 46.24% success rate. Celino covers the Technology sector, focusing on stocks such as Workday, PTC, and Cadence Design.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cadence Design with a $369.08 average price target.
Based on Cadence Design’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.44 billion and a net profit of $388.14 million. In comparison, last year the company earned a revenue of $1.36 billion and had a net profit of $340.21 million
Based on the recent corporate insider activity of 99 insiders, corporate insider sentiment is neutral on the stock. Last month, Moshe Gavrielov, a Director at CDNS sold 25.00 shares for a total of $7,898.00.
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