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Synopsys (SNPS) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Synopsys (SNPS - Free Report) closed the most recent trading day at $456.85, moving -4.28% from the previous trading session. This change lagged the S&P 500's 0.41% loss on the day. Elsewhere, the Dow lost 0.36%, while the tech-heavy Nasdaq lost 0.89%.
The maker of software used to test and develop chips's stock has climbed by 16.37% in the past month, exceeding the Computer and Technology sector's gain of 14.93% and the S&P 500's gain of 9.71%.
The investment community will be paying close attention to the earnings performance of Synopsys in its upcoming release. The company's upcoming EPS is projected at $3.17, signifying a 13.62% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.25 billion, indicating a 40.29% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $14.43 per share and a revenue of $9.62 billion, signifying shifts of +11.77% and +36.43%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Synopsys. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 0.28% lower. Right now, Synopsys possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Synopsys is presently being traded at a Forward P/E ratio of 33.07. This represents a premium compared to its industry average Forward P/E of 16.62.
Meanwhile, SNPS's PEG ratio is currently 2.78. 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 had an average PEG ratio of 1.58 as trading concluded yesterday.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 26% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Synopsys (SNPS) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Synopsys (SNPS - Free Report) closed the most recent trading day at $456.85, moving -4.28% from the previous trading session. This change lagged the S&P 500's 0.41% loss on the day. Elsewhere, the Dow lost 0.36%, while the tech-heavy Nasdaq lost 0.89%.
The maker of software used to test and develop chips's stock has climbed by 16.37% in the past month, exceeding the Computer and Technology sector's gain of 14.93% and the S&P 500's gain of 9.71%.
The investment community will be paying close attention to the earnings performance of Synopsys in its upcoming release. The company's upcoming EPS is projected at $3.17, signifying a 13.62% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.25 billion, indicating a 40.29% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $14.43 per share and a revenue of $9.62 billion, signifying shifts of +11.77% and +36.43%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Synopsys. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 0.28% lower. Right now, Synopsys possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Synopsys is presently being traded at a Forward P/E ratio of 33.07. This represents a premium compared to its industry average Forward P/E of 16.62.
Meanwhile, SNPS's PEG ratio is currently 2.78. 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 had an average PEG ratio of 1.58 as trading concluded yesterday.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 26% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.