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) Ascends While Market Falls: Some Facts to Note
Read MoreHide Full Article
Synopsys (SNPS - Free Report) closed at $516.38 in the latest trading session, marking a +1.61% move from the prior day. This move outpaced the S&P 500's daily loss of 0.06%. Meanwhile, the Dow experienced a drop of 0.17%, and the technology-dominated Nasdaq saw a decrease of 0.06%.
The maker of software used to test and develop chips's stock has climbed by 10.93% in the past month, exceeding the Computer and Technology sector's gain of 2.88% and the S&P 500's gain of 1.99%.
Analysts and investors alike will be keeping a close eye on the performance of Synopsys in its upcoming earnings disclosure. In that report, analysts expect Synopsys to post earnings of $3.57 per share. This would mark year-over-year growth of 17.82%. Simultaneously, our latest consensus estimate expects the revenue to be $2.39 billion, showing a 64.28% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $14.39 per share and a revenue of $9.63 billion, demonstrating changes of +11.46% and +36.45%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Synopsys. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. Synopsys is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Synopsys is currently exchanging hands at a Forward P/E ratio of 35.31. This valuation marks a premium compared to its industry average Forward P/E of 22.22.
We can additionally observe that SNPS currently boasts a PEG ratio of 2.97. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Computer - Software industry stood at 1.72 at the close of the market yesterday.
The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 100, finds itself in the top 41% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Synopsys (SNPS) Ascends While Market Falls: Some Facts to Note
Synopsys (SNPS - Free Report) closed at $516.38 in the latest trading session, marking a +1.61% move from the prior day. This move outpaced the S&P 500's daily loss of 0.06%. Meanwhile, the Dow experienced a drop of 0.17%, and the technology-dominated Nasdaq saw a decrease of 0.06%.
The maker of software used to test and develop chips's stock has climbed by 10.93% in the past month, exceeding the Computer and Technology sector's gain of 2.88% and the S&P 500's gain of 1.99%.
Analysts and investors alike will be keeping a close eye on the performance of Synopsys in its upcoming earnings disclosure. In that report, analysts expect Synopsys to post earnings of $3.57 per share. This would mark year-over-year growth of 17.82%. Simultaneously, our latest consensus estimate expects the revenue to be $2.39 billion, showing a 64.28% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $14.39 per share and a revenue of $9.63 billion, demonstrating changes of +11.46% and +36.45%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Synopsys. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. Synopsys is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Synopsys is currently exchanging hands at a Forward P/E ratio of 35.31. This valuation marks a premium compared to its industry average Forward P/E of 22.22.
We can additionally observe that SNPS currently boasts a PEG ratio of 2.97. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Computer - Software industry stood at 1.72 at the close of the market yesterday.
The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 100, finds itself in the top 41% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.