Cadence Design Stock Drops Despite Strong Q4, Analysts See Upside
1. CDNS reported Q4 revenues of $1.356 billion, a 27% year-on-year growth. 2. Record backlog of $6.8 billion driven by strong AI-related demand. 3. Analysts maintain bullish ratings; Stifel projects $350 price target. 4. 2025 revenue guidance slightly below consensus but may improve. 5. China revenue growth visibility is low due to geopolitical concerns.