Published on 18 Apr 2024 on Zacks via Yahoo Finance
Why Earnings Season Could Be Great for Cadence (CDNS)
Investors are always looking for stocks that are poised to beat at earnings season and Cadence Design Systems, Inc. CDNS may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Cadence is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for CDNS in this report.In fact, the Most Accurate Estimate for the current quarter is currently higher than the broader Zacks Consensus Estimate of $1.13 per share. This suggests that analysts have very recently bumped up their estimates for CDNS, giving the stock a Zacks Earnings ESP of +0.22% heading into earnings season.
Cadence Design Systems, Inc. Price and EPS Surprise
Cadence Design Systems, Inc. price-eps-surprise | Cadence Design Systems, Inc. Quote