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Cadence Design Systems (CDNS) Jumps: Stock Rises 9.1%

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Cadence Design Systems, Inc. CDNS was a big mover last session, as the company saw its shares rise more than 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session.This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $35.85 to $38.17 in the past one-month time frame.

The move came after the company reported better-than-expected first-quarter 2018 results.

The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Cadence Design Systems currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.

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Cadence Design Systems, Inc. Price

Cadence Design Systems, Inc. Price | Cadence Design Systems, Inc. Quote

Investors interested in the Computer - Software industry may consider Pegasystems Inc. PEGA, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is CDNS going up? Or down? Predict to see what others think:Up or Down

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