Synopsys (SNPS) Announces Quarterly Results
Synopsys (NASDAQ:SNPS) released its earnings data on Wednesday. The company reported $0.65 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.60 by $0.05, Analyst Ratings.Net reports. The company had revenue of $521.80 million for the quarter, compared to the consensus estimate of $521.00 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Synopsys updated its Q4 guidance to $0.59-0.61 EPS.
Synopsys (NASDAQ:SNPS) traded up 0.51% on Wednesday, hitting $39.30. 546,936 shares of the company’s stock traded hands. Synopsys 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 $38. and a 200-day moving average of $38.80. The company has a market cap of $6.081 billion and a P/E ratio of 25.71.
On the ratings front, 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $46.40.
Synopsys, Inc is engaged in providing technology solutions used to develop electronics and electronic systems.
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