Cadence Design Systems (NASDAQ: CDNS) reported weak Q1 CY2024 results, missing analysts’ revenue and billings estimates and providing underwhelming guidance for next quarter. Despite an EPS beat, the company’s revenue fell by 1.2% year-on-year to $1.01 billion, and revenue guidance for Q2 CY2024 came in 6.3% below expectations. Cadence’s results have raised concerns among investors, leading to a 7.3% drop in its share price.
Cadence Design reported first-quarter earnings per share of $1.17, outperforming analysts’ expectations by $0.04. Revenue came in at $1.01 billion, exceeding the consensus estimate of $1 billion. For fiscal 2024, Cadence Design projects EPS of $5.88-$5.98, slightly above the analyst consensus of $5.94. Revenue is expected to be $4.56B-$4.62B, surpassing the consensus estimate of $4.59B. Cadence Design’s stock closed slightly lower on the day.
Sify Technologies (NASDAQ: SIFY) has released its financial results for the fourth quarter of 2024. The company missed analysts’ estimates for revenue, reporting $116.05 million which is a significant 22.27% below the expected $149.30 million.
Reliance Industries Limited (RIL), India’s leading conglomerate, has achieved a major milestone by becoming the first Indian company to surpass the Rs 1 lakh crore mark in pre-tax profits. This historic achievement underscores the company’s dominant position in various sectors and its contributions to the Indian economy.
Analysts have recently provided 12-month price targets for EOG Resources EOG, with the average target set at $146.00. The current average reflects a 0.32% increase from the previous average price target of $145.53, indicating an upward trend. Bullish ratings have increased from 2 to 5 in the last 30 days, while bearish ratings remain at 0. In the past 3 months, 20 analysts have published ratings on EOG, revealing a shifting sentiment over the past 30 days. This news provides insights into the perception of EOG Resources by financial experts and can be valuable for investors seeking to understand consensus views on the stock’s potential future performance.
Analysts have provided a range of perspectives on Kymera Therapeutics, with some expressing optimism while others remain cautious. The average price target has increased to $53.0, indicating a positive outlook for the company’s future performance.
DeepspatialAI has canceled 21.45 million previously issued common shares and Algo8 India Private’s Nandan Mishra has resigned from the board of directors. Despite the unresolved technology acquisition, the company has secured contracts exceeding $1M and invoiced C$0.86M in the first quarter of 2024.
