Cadence Shares Rise 1.6%, 12% Monthly Gain Outpaces Sector
Cadence shares climbed 1.6% to $305.43 in the latest session, outperforming the S&P 500’s 0.78% advance and lifting month-to-date gains to 11.97% versus a 3.59% sector decline. Analysts forecast the company will report Q1 EPS of $1.89 (+20.4% YoY) on $1.43 billion revenue (+15%).
1. Stock Performance
Cadence Design Systems closed at $305.43, a 1.6% increase that outpaced the S&P 500’s 0.78% advance and lifted its one-month return to 11.97% compared with a 3.59% drop in the Computer & Technology sector.
2. Q1 Earnings Projections
Analysts anticipate Q1 earnings of $1.89 per share, up 20.4% year-over-year, on revenue of $1.43 billion, a 15% increase from the same period last year.
3. Valuation Metrics and Rankings
The stock trades at a forward P/E of 37.06, well above the 17.94 industry average, with a PEG ratio of 2.9 versus a 1.52 industry norm; it holds a Zacks Rank of 3 (Hold) following a 0.32% upward EPS estimate revision.