Cadence (CDNS) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.

Cadence Design Systems Inc. (NASDAQ: CDNS) has experienced a notable downturn recently, dropping over 23% in the past month, yet analysts at Piper Sandler see this as an opportunity. Analysts remain optimistic Upgrading the stock from Neutral to Overweight, they've maintained a bullish $318 price target, suggesting a potential 25% upside.

Cadence beat on revenue and adjusted earnings. Yet investors grew increasingly nervous about expensive AI stocks heading into the month.

Cadence (CDNS) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.

Evaluate Cadence's (CDNS) reliance on international revenue to better understand the company's financial stability, growth prospects and potential stock price performance.

Increasing design activity and opportunities from rapid AI proliferation bode well for Cadence (CDNS). However, competition and significant exposure to the semiconductor vertical is a concern.

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?

Cadence Design Systems NASDAQ: CDNS is a software company that makes programs essential to semiconductor design. The firm announced Q2 2024 earnings on July 22, 2024.

We're buy-rated on Cadence Design Systems, Inc. after three consecutive quarters of guidance miss. We think FY24 confirms that Cadence is not immune to the cyclical downturn in the semi industry and is tied to customer R&D spend. We think Cadence's Intelligent System Design portfolio expansion strengthens its standing in the EDA market and will benefit it as we see spending rebound next year.

Cadence's (CDNS) second-quarter performance benefits from robust customer demand amid increasing design activity.

Cadence Design Systems received a 'Hold' rating due to concerns about stock price valuation despite beating market consensus in Q2 earnings. CDNS's expanding AI portfolio and partnerships with key players position the company well to capture the growing demand in the EDA market. The company's FY24 outlook shows promising growth potential, with acquisitions and market leadership in key growth areas driving revenue growth.

Cadence Design Systems, Inc. (NASDAQ:CDNS ) Q2 2024 Earnings Conference Call July 22, 2024 4:30 PM ET Company Participants Richard Gu - VP, IR Anirudh Devgan - President & CEO John Wall - SVP & CFO Conference Call Participants Charles Shi - Needham & Company Gianmarco Conti - Deutsche Bank Vivek Arya - Bank of America Securities Joshua Tilton - Wolfe Research Ruben Roy - Stifel Jay Vleeschhouwer - Griffin Securities Harlan Sur - JPMorgan Jason Celino - KeyBanc Capital Markets Lee Simpson - Morgan Stanley Clarke Jeffries - Piper Sandler Joe Vruwink - Baird Operator Good afternoon. My name is Brianna, and I will be your conference operator today.