Synopsys, Inc. (SNPS) Updates Q4 Earnings Guidance
Synopsys, Inc. (NASDAQ:SNPS) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.59-0.61 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.63, Analyst Ratings.Net reports. The company issued revenue guidance of $537-547 million, compared to the consensus revenue estimate of $546.98 million.
Synopsys, Inc. (NASDAQ:SNPS) traded up 0.51% on Wednesday, hitting $39.30. 546,936 shares of the company’s stock traded hands. Synopsys, Inc. has a 1-year low of $34.55 and a 1-year high of $41.62. The stock’s 50-day moving average is $38. and its 200-day moving average is $38.80. The company has a market cap of $6.081 billion and a P/E ratio of 25.71.
Synopsys (NASDAQ:SNPS) last released its earnings data on Wednesday, August 20th. The company reported $0.65 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.60 by $0.05. The company had revenue of $521.80 million for the quarter, compared to the consensus estimate of $521.00 million. During the same quarter last year, the company posted $0.55 earnings per share. Synopsys’s revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that Synopsys, Inc. will post $2.48 earnings per share for the current fiscal year.
On a related note, analysts at DA Davidson cut their price target on shares of Synopsys from $47.00 to $46.00 in a research note on Thursday, May 22nd. They now have a buy rating on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $46.40.
Synopsys, Inc is engaged in providing technology solutions used to develop electronics and electronic systems.
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