Mizuho reiterates Cadence Design stock rating on strong Q3 results

Cadence Design Systems (CDNS) reported Q3 earnings with raised guidance, citing early-stage agentic AI opportunities. Analysts highlight strong recurring revenue and backlog, reducing Q4 miss risks. Wells Fargo maintained an Overweight rating and $425 price target, but noted potential risks from China sales and Hexagon contributions.

Cadence Design Systems (CDNS) reported Q3 revenue of $1.63B, up 22% YoY, and adjusted earnings of $2.11 per share, beating estimates. The company raised its 2026 outlook and announced a $2.5B share repurchase program. Shares rose 3% in premarket trading.

Rosenblatt raised Cadence Design Systems' (CDNS) price target to $425, citing strong Q3 results. Revenue was $1.63B, up 22% YoY, beating estimates. All product groups saw double-digit growth. CDNS raised its 2026 growth outlook to 21%.

Cadence Design Systems (CDNS) reported Q3 revenue growth of 22% to $1.63B, beating estimates, and raised its 2026 guidance. Adjusted earnings were $2.11 per share, above consensus. The company cited AI-driven demand for its tools. Shares rose 2.26% premarket. CDNS also authorized $2.5B in additional share repurchases.

Needham raised its price target for Cadence Design Systems (NASDAQ:CDNS) to $430 from $400, citing strong quarterly results and raised guidance. The company projects 2026 revenue growth exceeding 20%, with 17.6% growth over the last twelve months and an 85.7% gross profit margin. Cadence introduced Maestro Model Portfolio, an AI tool, and reported Q3 earnings of $2.11 per share, beating estimates. Revenue increased 22% year-over-year to $1.63 billion.

Needham kept a Buy rating on Cadence Design Systems (CDNS) with a $430 price target, suggesting 33.5% upside from the Oct 26 close. The company reported strong financials, raised revenue guidance, and introduced AI solutions, positioning it for growth.