Cadence (CDNS) Hits 52-Week High On Strong Product Adoption (revised)
Zacks Investment Research | Oct 10, 2017 02:12AM ET
Shares of Cadence Design Systems Inc (NASDAQ:CDNS) have rallied to a new 52-week high of $40.33, eventually closing a bit lower at $40.25 on Oct 4. The momentum can be attributed to the strong adoption of the company’s products and expanding customer base, which drove top-line growth. In the last quarter, revenues increased 5.7% year over year to $479 million, beating the Zacks Consensus Estimate of $478 million. Moreover, Cadence has outperformed the Zacks Consensus Estimate for earnings in two of the trailing four quarters with a positive average of 1.62%. Currently, Cadence has a Zacks Rank #3 (Hold). Notably, the stock has a market capital of $11.06 billion. Further, Cadence’s stock has returned 59.6% year to date, substantially outperforming the 25.4% rally of the .
Long term earnings growth for Adobe is currently pegged at 16.60%.
(NOTE: We have reissued this article to correct two errors. The original version, published Oct. 5, 2017, should no longer be relied upon.)
4 Stocks to Watch After the Massive Equifax (NYSE:EFX) Hack
Cybersecurity stocks spiked on recent news of a data breach affecting 143 million Americans. But which stocks are the best buy candidates right now? And what does the future hold for the cybersecurity industry?
Equifax is just the most recent victim. Computer hacking and identity theft are more common than ever. Zacks has just released Cybersecurity! An Investor’s Guide to inform Zacks.com readers about this $170 billion/year space. More importantly, it highlights 4 cybersecurity picks with strong profit potential.
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.