On May 16, 2025, Wells Fargo analyst Joe Quatrochi announced an update regarding Cadence Design Systems (CDNS, Financial), a key player in the electronic design automation industry. The analyst maintained an "Overweight" rating for the company, consistent with previous assessments.
In a significant move, the price target for Cadence Design Systems (CDNS, Financial) was raised from $350.00 to $365.00 USD. This adjustment reflects a 4.29% increase in the expected value of the company's stock, emphasizing continued confidence in its performance and future prospects.
The decision by Wells Fargo is based on the analysis and insights of Joe Quatrochi, who has reiterated support for Cadence Design Systems (CDNS, Financial). The updated price target underscores expectations for potential growth as part of the company's strategy moving forward.
Investors and stakeholders are encouraged to take note of these developments involving Cadence Design Systems (CDNS, Financial) as the market continues to evolve.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 20 analysts, the average target price for Cadence Design Systems Inc (CDNS, Financial) is $318.52 with a high estimate of $375.00 and a low estimate of $200.00. The average target implies an downside of 0.83% from the current price of $321.20. More detailed estimate data can be found on the Cadence Design Systems Inc (CDNS) Forecast page.
Based on the consensus recommendation from 22 brokerage firms, Cadence Design Systems Inc's (CDNS, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Cadence Design Systems Inc (CDNS, Financial) in one year is $341.43, suggesting a upside of 6.3% from the current price of $321.2. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Cadence Design Systems Inc (CDNS) Summary page.
