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Synopsys (SNPS) Stock Moves 0.05%: What You Should Know
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In the latest trading session, Synopsys (SNPS - Free Report) closed at $371.74, marking a +0.05% move from the previous day. The stock traded in line with S&P 500. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq gained 6.02%.
Heading into today, shares of the maker of software used to test and develop chips had lost 1.16% over the past month, lagging the Computer and Technology sector's gain of 1.52% and the S&P 500's gain of 1.18% in that time.
Synopsys will be looking to display strength as it nears its next earnings release, which is expected to be May 17, 2023. 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.57 per share and revenue of $5.8 billion. These totals would mark changes of +18.76% and +14.05%, respectively, from last year.
Any recent changes to analyst estimates for Synopsys should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Synopsys is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Synopsys's current valuation metrics, including its Forward P/E ratio of 35.16. This valuation marks a premium compared to its industry's average Forward P/E of 25.85.
We can also see 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. Computer - Software stocks are, on average, holding a PEG ratio of 2.09 based on yesterday's closing prices.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% 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.
To follow SNPS in the coming trading sessions, be sure to utilize Zacks.com.
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Synopsys (SNPS) Stock Moves 0.05%: What You Should Know
In the latest trading session, Synopsys (SNPS - Free Report) closed at $371.74, marking a +0.05% move from the previous day. The stock traded in line with S&P 500. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq gained 6.02%.
Heading into today, shares of the maker of software used to test and develop chips had lost 1.16% over the past month, lagging the Computer and Technology sector's gain of 1.52% and the S&P 500's gain of 1.18% in that time.
Synopsys will be looking to display strength as it nears its next earnings release, which is expected to be May 17, 2023. 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.57 per share and revenue of $5.8 billion. These totals would mark changes of +18.76% and +14.05%, respectively, from last year.
Any recent changes to analyst estimates for Synopsys should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Synopsys is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Synopsys's current valuation metrics, including its Forward P/E ratio of 35.16. This valuation marks a premium compared to its industry's average Forward P/E of 25.85.
We can also see 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. Computer - Software stocks are, on average, holding a PEG ratio of 2.09 based on yesterday's closing prices.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% 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.
To follow SNPS in the coming trading sessions, be sure to utilize Zacks.com.