Cadence Design Systems shares have returned 14.7% over the past month, far exceeding the Zacks S&P 500 composite's 1.6% gain, while the Zacks Computer - Software industry lost 6.3%. The company is expected to post earnings of $2.05 per share for the current quarter, a 24.2% increase from a year ago, with consensus estimates unchanged over the last 30 days. For the current fiscal year, the consensus earnings estimate stands at $7.94 per share, indicating 11.2% growth, and the next fiscal year estimate is $9.30 per share, a 17.2% rise. Cadence reported revenues of $1.47 billion in its latest quarter, up 18.7% year-over-year, beating the Zacks Consensus Estimate by 1.69%, while earnings per share of $1.96 topped estimates by 4.26%. The stock carries a Zacks Rank of 3, or Hold, suggesting it may perform in line with the broader market in the near term.
Cadence Design Systems IncStrong earnings beat and revenue growth, with upward earnings estimates.