We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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 Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
Synopsys (SNPS - Free Report) closed the most recent trading day at $601.55, moving -1.33% from the previous trading session. This change lagged the S&P 500's daily gain of 0.4%. Meanwhile, the Dow experienced a rise of 0.47%, and the technology-dominated Nasdaq saw an increase of 0.24%.
Shares of the maker of software used to test and develop chips have appreciated by 22.99% over the course of the past month, outperforming the Computer and Technology sector's gain of 6.84%, and the S&P 500's gain of 4.61%.
The investment community will be paying close attention to the earnings performance of Synopsys in its upcoming release. On that day, Synopsys is projected to report earnings of $3.84 per share, which would represent year-over-year growth of 11.95%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.77 billion, indicating a 15.9% increase compared to the same quarter of the previous year.
SNPS's full-year Zacks Consensus Estimates are calling for earnings of $15.09 per share and revenue of $6.77 billion. These results would represent year-over-year changes of +14.32% and +8.03%, respectively.
Investors might also notice recent changes to analyst estimates for Synopsys. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.03% fall in the Zacks Consensus EPS estimate. Synopsys presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Synopsys is presently trading at a Forward P/E ratio of 40.4. This expresses a premium compared to the average Forward P/E of 25.82 of its industry.
It is also worth noting that SNPS currently has a PEG ratio of 2.89. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. SNPS's industry had an average PEG ratio of 2.32 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank is ordered 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 Sinks As Market Gains: What You Should Know
Synopsys (SNPS - Free Report) closed the most recent trading day at $601.55, moving -1.33% from the previous trading session. This change lagged the S&P 500's daily gain of 0.4%. Meanwhile, the Dow experienced a rise of 0.47%, and the technology-dominated Nasdaq saw an increase of 0.24%.
Shares of the maker of software used to test and develop chips have appreciated by 22.99% over the course of the past month, outperforming the Computer and Technology sector's gain of 6.84%, and the S&P 500's gain of 4.61%.
The investment community will be paying close attention to the earnings performance of Synopsys in its upcoming release. On that day, Synopsys is projected to report earnings of $3.84 per share, which would represent year-over-year growth of 11.95%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.77 billion, indicating a 15.9% increase compared to the same quarter of the previous year.
SNPS's full-year Zacks Consensus Estimates are calling for earnings of $15.09 per share and revenue of $6.77 billion. These results would represent year-over-year changes of +14.32% and +8.03%, respectively.
Investors might also notice recent changes to analyst estimates for Synopsys. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.03% fall in the Zacks Consensus EPS estimate. Synopsys presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Synopsys is presently trading at a Forward P/E ratio of 40.4. This expresses a premium compared to the average Forward P/E of 25.82 of its industry.
It is also worth noting that SNPS currently has a PEG ratio of 2.89. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. SNPS's industry had an average PEG ratio of 2.32 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank is ordered 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.