Robert W. Baird analyst Joseph Vruwink maintained a Buy rating on Cadence Design (NASDAQ:CDNS) Systems on Sunday, setting a price target of $160, which is approximately 23.76% above the present share price of $129.28.
Vruwink expects Cadence Design Systems to post earnings per share (EPS) of $0.68 for the second quarter of 2021.
The current consensus among 5 TipRanks analysts is for a Moderate Buy rating of shares in Cadence Design, with an average price target of $159.4.
The analysts price targets range from a high of $165 to a low of $147.
In its latest earnings report, released on 03/31/2021, the company reported a quarterly revenue of $736.03 million and a net profit of $203.67 million. The company's market cap is $36.44 billion.
According to TipRanks.com, Robert W. Baird analyst Joseph Vruwink is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 23.9% and a 81.36% success rate.
California-based Cadence Design Systems, Inc. is a multinational computational software company, founded in 1988 by the merger of SDA Systems and ECAD, Inc. The company designs and develops integrated circuits and electronic devices. Its products are used for various market applications including consumer, hyperscale computing, 5G communications, automotive, aerospace, industrial and health.