Baird analyst Joe Vruwink raised the firm’s price target on Cadence Design to $262 from $257 and keeps an Outperform rating on the shares. The firm said they had a modest beat and raise quarter against high expectations band a better setup is emerging for 2024.
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- Cadence Design falls 5% to $229.03 after Q3 results, below-consensus Q4 guidance
- Cadence Design sees FY23 adjusted EPS $5.07-$5.13, consensus $5.09
- Cadence Design sees Q4 adjusted EPS $1.30-$1.36, consensus $1.37
- Cadence Design reports Q3 adjusted EPS $1.26, consensus $1.20