Synopsys (NASDAQ:SNPS – Get Free Report) is projected to issue its quarterly earnings data after the market closes on Wednesday, February 26th. Analysts expect the company to announce earnings of $2.81 per share and revenue of $1.45 billion for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.
Synopsys Stock Performance
NASDAQ:SNPS opened at $470.08 on Tuesday. Synopsys has a 52 week low of $457.52 and a 52 week high of $624.80. The firm has a market cap of $72.66 billion, a price-to-earnings ratio of 32.37, a P/E/G ratio of 3.23 and a beta of 1.12. The firm’s 50-day simple moving average is $509.17 and its 200 day simple moving average is $517.36.
Analyst Ratings Changes
Several equities analysts have commented on SNPS shares. Morgan Stanley decreased their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday. Piper Sandler decreased their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Redburn Atlantic started coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. Finally, Robert W. Baird decreased their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and an average target price of $637.50.
Insider Buying and Selling
In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is owned by corporate insiders.
About Synopsys
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.
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