We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Synopsys (SNPS) Stock Moves -0.75%: What You Should Know
Read MoreHide Full Article
Synopsys (SNPS - Free Report) closed the most recent trading day at $368.83, moving -0.75% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.16%. Elsewhere, the Dow lost 1.08%, while the tech-heavy Nasdaq lost 7.95%.
Coming into today, shares of the maker of software used to test and develop chips had lost 4.45% in the past month. In that same time, the Computer and Technology sector lost 0.03%, while the S&P 500 gained 1.53%.
Wall Street will be looking for positivity from Synopsys as it approaches its next earnings report date. On that day, Synopsys is projected to report earnings of $2.47 per share, which would represent a year-over-year decline of 1.2%. Our most recent consensus estimate is calling for quarterly revenue of $1.38 billion, up 7.73% from the year-ago period.
SNPS's full-year Zacks Consensus Estimates are calling for earnings of $10.57 per share and revenue of $5.8 billion. These results would represent year-over-year changes of +18.76% and +14.05%, respectively.
It is also important to note the recent changes to analyst estimates for Synopsys. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Synopsys is currently a Zacks Rank #3 (Hold).
In terms of valuation, Synopsys is currently trading at a Forward P/E ratio of 35.16. This represents a premium compared to its industry's average Forward P/E of 27.54.
It is also worth noting that SNPS currently has a PEG ratio of 2.25. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Software industry currently had an average PEG ratio of 2.16 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Synopsys (SNPS) Stock Moves -0.75%: What You Should Know
Synopsys (SNPS - Free Report) closed the most recent trading day at $368.83, moving -0.75% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.16%. Elsewhere, the Dow lost 1.08%, while the tech-heavy Nasdaq lost 7.95%.
Coming into today, shares of the maker of software used to test and develop chips had lost 4.45% in the past month. In that same time, the Computer and Technology sector lost 0.03%, while the S&P 500 gained 1.53%.
Wall Street will be looking for positivity from Synopsys as it approaches its next earnings report date. On that day, Synopsys is projected to report earnings of $2.47 per share, which would represent a year-over-year decline of 1.2%. Our most recent consensus estimate is calling for quarterly revenue of $1.38 billion, up 7.73% from the year-ago period.
SNPS's full-year Zacks Consensus Estimates are calling for earnings of $10.57 per share and revenue of $5.8 billion. These results would represent year-over-year changes of +18.76% and +14.05%, respectively.
It is also important to note the recent changes to analyst estimates for Synopsys. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Synopsys is currently a Zacks Rank #3 (Hold).
In terms of valuation, Synopsys is currently trading at a Forward P/E ratio of 35.16. This represents a premium compared to its industry's average Forward P/E of 27.54.
It is also worth noting that SNPS currently has a PEG ratio of 2.25. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Software industry currently had an average PEG ratio of 2.16 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.