Key Highlights

● CDNS closed at $352.84 on 9 October 2026, and the $404.14 consensus target implies upside of about 14.5 per cent.

● The consensus draws on 22 analysts, with targets from $300 to $470, while the second data set shows a $406.24 mean from 26 analysts.

● Market data records 18 Buy, one Strong Buy and three Hold ratings with no Sell.

● Deutsche Bank reiterated Buy and lifted its target to $420 from $400 on 7 October.

Cadence Design Systems, Inc. (NASDAQ:CDNS), a provider of electronic design automation software, is a member of both the S&P 500 and the Nasdaq-100. Its shares closed at $352.84 on Friday 9 October 2026, well below the 52-week high of $416.69.

What Is the Latest Analyst Price Target?

Market data shows a consensus price target of $404.14 from 22 analysts over the past 12 months, with a range from $300 (Oppenheimer) to $470 (Goldman Sachs). The second data set, based on third-party data from 26 analysts, shows a mean of $406.24 and a median of $415.44, with the same $300 to $470 range.

Both figures are consistent with the named broker targets of recent months, many of which sit at $400 to $420. Against the $352.84 close, the consensus target suggests upside of about 14.5 per cent. The second data set's mean implies about 15.1 per cent.

What Are Wall Street Analysts Saying?

Sentiment is strongly positive. Market data records 18 Buy ratings, one Strong Buy, three Hold and no Sell ratings. The second data set shows 18 Strong Buy, five Buy and two Hold, with no Sell ratings, and labels the consensus Strong Buy.

The most recent named action on market data came on 7 October, when Deutsche Bank reiterated a Buy rating and lifted its target from $400 to $420. FBN Securities initiated coverage with an Outperform rating and a $375 target on 11 September. Following the company's results in late July, several brokers raised targets: Citigroup, Bank of America, Rosenblatt and Robert W. Baird moved to $420, Rothschild & Co Redburn to $395 and Piper Sandler, on a Neutral rating, to $349. Morgan Stanley moved from $370 to $400, and Goldman Sachs raised its target from $410 to $470 on 13 July. Oppenheimer, on Market Perform, lifted its target from $275 to $300 and holds the lowest figure.

What Could Help the Stock Reach the Price Target?

Demand for chip and system design tools, particularly linked to artificial intelligence and advanced semiconductors, is a theme analysts commonly cite. Market data reports quarterly revenue of $1.58 billion, up 24.2 per cent, and earnings per share of $2.11 against a $2.05 consensus.

Continued results at or above expectations, recurring software revenue and further target increases could narrow the gap between price and consensus. The shares are also well below the 52-week high of $416.69 reported by market data, so a recovery towards that level would be consistent with the targets, though it is not assured.

What Could Prevent the Stock Reaching the Target?

Valuations for software and design tools can be demanding, so any disappointment in growth or guidance could prompt a sharp reaction. Semiconductor industry spending is cyclical, and export controls or trade restrictions could affect customers in some regions.

The analyst range is wide, from $300 to $470, which indicates uncertainty over how much future growth is already priced in.

What Should Investors Watch Next?

In the meantime, watch for broker revisions following the October Deutsche Bank increase, as well as semiconductor industry data and any developments in trade policy.

Cadence's Strong Buy Panel Sits Between a $300 Low and a $470 High

Cadence closed at $352.84 on 9 October 2026, with the $404.14 consensus target about 14.5 per cent higher and many named targets at $400 to $420. Sentiment is strongly positive, with no Sell ratings, though the $300 to $470 range, from Oppenheimer's Market Perform to Goldman Sachs, indicates uncertainty over how much growth is already priced in. Market data reports quarterly revenue of $1.58 billion and earnings per share of $2.11 against $2.05.