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Synopsys (NASDAQ:SNPS) has earned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the company, Stock Ratings Network reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $45.67.

Several analysts have recently commented on the stock. Analysts at DA Davidson cut their price target on shares of Synopsys from $47.00 to $46.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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.

Synopsys (NASDAQ:SNPS) traded up 0.36% during mid-day trading on Thursday, hitting $38.63. The stock had a trading volume of 323,622 shares. Synopsys has a 1-year low of $34.55 and a 1-year high of $41.62. The stock’s 50-day moving average is $37.60 and its 200-day moving average is $38.7. The company has a market cap of $5.952 billion and a price-to-earnings ratio of 24.66.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data 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 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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