Cadence Designs (CDNS) PT Raised to $390 at Needham

Needham analyst Charles Shi raised the price target on Cadence Designs (NASDAQ: CDNS) to $390.00 (from $325.00) while maintaining a Buy rating.

The analyst commented: "Cadence reported strong earnings for 2Q25 and guided 3Q25/FY25 above the Street. The company did a 1pt raise to the full-year growth target, and now sees top-line growth at 13% this year. Hardware is the highlight of the quarter, the revenue of which was not explicitly specified but can be inferred by the all-time-high upfront revenue in both dollar and percentage terms. We expect the hardware cycle will run at full strength through 2H25 and into 2026. Our PT is raised to $390. Reiterate Buy."

You May Also Be Interested In

• Golar LNG Ltd. (GLNG) PT Raised to $70 at BTIG
• Gemini Space Station, Inc. (GEMI) Misses Q2 EPS by 32c
• Assembly Biosciences (ASMB) Tops Q2 EPS by 53c