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(SNPS) Advances While Market Declines: Some Information for Investors
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Synopsys (SNPS - Free Report) ended the recent trading session at $496.23, demonstrating a +0.26% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.63%. Elsewhere, the Dow lost 0.51%, while the tech-heavy Nasdaq lost 0.63%.
Prior to today's trading, shares of the maker of software used to test and develop chips had gained 6.02% over the past month. This has outpaced the Computer and Technology sector's loss of 1.17% and the S&P 500's loss of 2.35% in that time.
The upcoming earnings release of Synopsys will be of great interest to investors. It is anticipated that the company will report an EPS of $3.04, marking a 59.16% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.58 billion, indicating a 23.3% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $11.09 per share and a revenue of $5.83 billion, demonstrating changes of +24.61% and +14.67%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Synopsys. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Synopsys currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Synopsys is currently trading at a Forward P/E ratio of 44.63. This valuation marks a premium compared to its industry's average Forward P/E of 28.3.
Meanwhile, SNPS's PEG ratio is currently 2.72. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Computer - Software industry had an average PEG ratio of 2.26 as trading concluded yesterday.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 106, this industry ranks in the top 43% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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(SNPS) Advances While Market Declines: Some Information for Investors
Synopsys (SNPS - Free Report) ended the recent trading session at $496.23, demonstrating a +0.26% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.63%. Elsewhere, the Dow lost 0.51%, while the tech-heavy Nasdaq lost 0.63%.
Prior to today's trading, shares of the maker of software used to test and develop chips had gained 6.02% over the past month. This has outpaced the Computer and Technology sector's loss of 1.17% and the S&P 500's loss of 2.35% in that time.
The upcoming earnings release of Synopsys will be of great interest to investors. It is anticipated that the company will report an EPS of $3.04, marking a 59.16% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.58 billion, indicating a 23.3% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $11.09 per share and a revenue of $5.83 billion, demonstrating changes of +24.61% and +14.67%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Synopsys. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Synopsys currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Synopsys is currently trading at a Forward P/E ratio of 44.63. This valuation marks a premium compared to its industry's average Forward P/E of 28.3.
Meanwhile, SNPS's PEG ratio is currently 2.72. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Computer - Software industry had an average PEG ratio of 2.26 as trading concluded yesterday.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 106, this industry ranks in the top 43% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.