Cadence Design Systems stock trades at USD 326.29 before results

Cadence Design Systems stock was trading at USD 326.29 on Nasdaq at 11:31 a.m. ET on September 28, 2026, up 0.05 percent from the previous close. The latest market catalyst is a Wall Street Zen upgrade from Hold to Buy dated September 26, while the reported average analyst target stands at USD 403.88.

Analyst upgrade meets valuation test

According to MarketBeat on September 26, 2026, Wall Street Zen raised its rating to Buy from Hold. The same report put the consensus price target at USD 403.88, while Citigroup and Rosenblatt Securities had each lifted their targets to USD 420.00 in July.

At USD 326.29, the stock stood USD 90.40 below the reported consensus target. That difference makes the analyst view a measurable market reference, but the share price remains below its 52-week high of USD 416.69 and above its 52-week low of USD 262.75.

Q2 revenue grows 24.2 percent

Cadence reported Q2 2026 revenue of USD 1.58 billion, up 24.2 percent from the prior-year quarter, while quarterly EPS reached USD 2.11 versus USD 2.05 consensus, according to MarketBeat. The company also set fiscal 2026 EPS guidance at USD 8.05 to USD 8.15 and Q3 guidance at USD 2.01 to USD 2.07.

The earnings profile gives the valuation debate a concrete anchor. Cadence's Q2 operating profit was USD 450.3 million on reported revenue of USD 1.584 billion, while operating cash flow reached USD 634.9 million, according to the standardized Q2 2026 financial data.

TSMC collaboration adds a growth angle

Cadence announced expanded capabilities with TSMC for AI and high-performance computing chip design, including certified flows for TSMC's A14 process and silicon-proven IP for N3P and N2P technologies, as Engineering.com reported on September 25, 2026. The partnership connects Cadence's electronic design automation tools with the chip industry's shift toward AI accelerators and advanced packaging.

October results set the next checkpoint

Cadence is scheduled to report its next quarterly results on October 26, 2026, according to Investing.com. Cadence Design Systems had a market capitalization of USD 89.9 billion and trading volume of 542,867 shares on September 28, 2026.