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Synopsys, Inc. (NASDAQ:SNPS) updated its FY14 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.45-2.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.51, Stock Ratings News reports. The company issued revenue guidance of $2.05-2.075 billion, compared to the consensus revenue estimate of $2.06 billion.Synopsys also updated its Q3 guidance to $0.60-0.62 EPS.

A number of research firms have recently commented on SNPS. Analysts at Summit Research upgraded shares of Synopsys from a hold rating to a buy rating in a research note on Tuesday. They now have a $47.00 price target on the stock, up previously from $44.00. On a related note, analysts at Zacks reiterated a neutral rating on shares of Synopsys in a research note on Tuesday, February 25th. They now have a $42.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of Synopsys from $44.00 to $46.00 in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $45.60.

Shares of Synopsys, Inc. (NASDAQ:SNPS) traded up 0.76% on Wednesday, hitting $38.49. 805,260 shares of the company’s stock traded hands. Synopsys, Inc. has a 52-week low of $34.55 and a 52-week high of $41.62. The stock has a 50-day moving average of $37.60 and a 200-day moving average of $38.72. The company has a market cap of $5.931 billion and a price-to-earnings ratio of 24.47.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05. The company had revenue of $517.70 million for the quarter, compared to the consensus estimate of $512.15 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts predict that Synopsys, Inc. will post $2.46 earnings per share for the current fiscal year.

Synopsys, Inc is engaged in providing technology solutions used to develop electronics and electronic systems.

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