Cadence Design Systems will report earnings Monday afternoon. The electronic design automation company is expected to post revenue growth of 23.6% year on year, an acceleration from the 20.2% increase in the same quarter last year. Last quarter, Cadence beat revenue estimates with $1.47 billion, up 18.7% year on year, and offered full-year guidance slightly above expectations. Analysts have largely maintained their estimates over the past 30 days, and the company has a history of exceeding Wall Street forecasts. Shares are down 13% over the last month, heading into earnings with an average analyst price target of $395.94 against a current price of $328.25.
Cadence Design Systems IncEarnings report expected with revenue growth, but no actual results yet; stock down 13% ahead of report
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