Cadence Design Systems, Inc.

NASDAQ Global Select
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Bullish +75

Wells Fargo Remains a Buy on Cadence Design (CDNS)

AI-generated analysis

📈 Wells Fargo analyst Joseph Quatrochi maintains a Buy rating on Cadence Design (CDNS) with a price target of $425.00.

📊 The Street consensus suggests a Strong Buy rating for CDNS with an average price target of $381.69.

💰 Cadence reported quarterly revenue of $1.47 billion and net profit of $335.66 million for the quarter ending March 31.

📈 Revenue grew from $1.24 billion last year, while net profit increased from $273.58 million in the prior year.

⭐ Analyst Joseph Quatrochi is rated a 5-star analyst with an average return of 33.3% and a 72.20% success rate.

👥 Corporate insider sentiment is neutral based on activity from 103 insiders, including a recent sale by Director Moshe Gavrielov.

🤖 Cadence Design recently announced the development of a fully autonomous virtual agentic AI design engineer.

📈 Berenberg raised its price target for CDNS to $440 from $400.

🏛️ Cadence Design shareholders have reaffirmed board and governance measures in recent corporate actions.

🔍 The article notes that Wells Fargo previously raised its price target to $425 from $400.

Bullish Signals
  • Wells Fargo analyst Joseph Quatrochi maintained a Buy rating on Cadence Design (CDNS) with a price target of $425.00.
  • The Street consensus suggests a Strong Buy rating for Cadence Design with an average price target of $381.69.
  • Cadence Design reported quarterly revenue of $1.47 billion, representing growth from last year's $1.24 billion.
  • Net profit increased to $335.66 million compared to $273.58 million in the same period last year.
  • Berenberg raised its price target for Cadence Design to $440 from $400, indicating strong upside potential.
  • Cadence Design announced a fully autonomous virtual agentic AI design engineer, highlighting innovation in their product portfolio.
  • Aeva adopted Cadence Tensilica Vision DSP, demonstrating strong demand for their technology in the autonomous vehicle sector.
Risk Factors
  • Corporate insider sentiment remains neutral, highlighted by Director Moshe Gavrielov selling 25 shares in March 2026 for approximately $7,900.
  • The Wells Fargo price target of $425.00 is higher than the broader Street consensus average price target of $381.69, suggesting potential divergence in analyst expectations.
Full Analysis
Wells Fargo analyst Joseph Quatrochi maintained a Buy rating on Cadence Design Systems (CDNS) with a price target of $425.00, while the broader Street consensus suggests a Strong Buy rating with an average price target of $381.69. The recommendation follows the company's latest earnings release for the quarter ending March 31, where Cadence reported quarterly revenue of $1.47 billion and net profit of $335.66 million, representing significant growth from last year's figures of $1.24 billion in revenue and $273.58 million in net profit. Corporate insider sentiment remains neutral based on activity from 103 insiders, with the most recent notable transaction being a sale of 25 shares by Director Moshe Gavrielov in March 2026 for approximately $7,900. The article also notes that Cadence Design has recently announced a fully autonomous virtual agentic AI design engineer and highlights other analyst actions including a price target raise to $440 at Berenberg.