Synopsys (NASDAQ:SNPS) Issues Q1 Earnings Guidance

Synopsys (NASDAQ:SNPS) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.77-$2.82 for the period, compared to the consensus estimate of $3.52. The company issued revenue guidance of $1.435-$1.465 billion, compared to the consensus revenue estimate of $1.64 billion. Synopsys also updated its FY25 guidance to $14.88-$14.96 EPS.

Synopsys Stock Up 3.1 %

Synopsys stock traded up $17.81 on Wednesday, hitting $588.00. The company’s stock had a trading volume of 1,750,899 shares, compared to its average volume of 1,046,635. The firm has a market cap of $90.32 billion, a P/E ratio of 59.15, a price-to-earnings-growth ratio of 3.45 and a beta of 1.08. The company has a fifty day moving average price of $528.30 and a 200-day moving average price of $545.39. Synopsys has a one year low of $457.52 and a one year high of $629.38.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SNPS shares. Piper Sandler cut their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Mizuho began coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. Finally, Berenberg Bank began coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $653.80.

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.