Synopsys Stock Rating Reaffirmed by Needham & Company (SNPS)
Synopsys (NASDAQ:SNPS)‘s stock had its “top pick” rating reaffirmed by investment analysts at Needham & Company in a note issued to investors on Friday, AR Network reports.
Synopsys (NASDAQ:SNPS) opened at 40.42 on Friday. Synopsys has a 1-year low of $31.34 and a 1-year high of $40.79. The stock’s 50-day moving average is $37.79 and its 200-day moving average is $37.12. The company has a market cap of $6.239 billion and a P/E ratio of 25.68.
Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, December 4th. The company reported $0.56 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.55 by $0.01. The company had revenue of $504.90 million for the quarter, compared to the consensus estimate of $505.82 million. During the same quarter last year, the company posted $0.47 earnings per share. Synopsys’s revenue was up 11.2% compared to the same quarter last year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Synopsys in a research note to investors on Friday, December 6th. They now have a $39.00 price target on the stock. Analysts at RBC Capital raised their price target on shares of Synopsys from $41.00 to $43.00 in a research note to investors on Friday, October 11th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $40.67.
In other Synopsys news, VP Esfandiar Naddaf unloaded 3,134 shares of Synopsys stock on the open market in a transaction dated Monday, December 23rd. The stock was sold at an average price of $39.84, for a total value of $124,858.56. Following the completion of the transaction, the vice president now directly owns 2,706 shares of the company’s stock, valued at approximately $107,807. The transaction was disclosed in a filing with the SEC, which is available at this link.
Synopsys, Inc is engaged in providing technology solutions used to develop electronics and electronic systems.
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