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Synopsys (SNPS) Rises As Market Takes a Dip: Key Facts
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Synopsys (SNPS - Free Report) closed at $430.14 in the latest trading session, marking a +1.81% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.52%. Meanwhile, the Dow lost 1.24%, and the Nasdaq, a tech-heavy index, lost 0.21%.
Shares of the maker of software used to test and develop chips witnessed a loss of 0.57% over the previous month, beating the performance of the Computer and Technology sector with its loss of 7.7%, and the S&P 500's loss of 1.21%.
Investors will be eagerly watching for the performance of Synopsys in its upcoming earnings disclosure. The company's upcoming EPS is projected at $4.12, signifying a 42.07% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.56 billion, indicating a 13.38% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $15.14 per share and revenue of $9.72 billion, indicating changes of +17.27% and +37.77%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Synopsys. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.1% higher. Currently, Synopsys is carrying a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Synopsys is presently being traded at a Forward P/E ratio of 27.91. This indicates a premium in contrast to its industry's Forward P/E of 17.66.
Meanwhile, SNPS's PEG ratio is currently 1.25. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Computer - Software was holding an average PEG ratio of 1.49 at yesterday's closing price.
The Computer - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 55, placing it within the top 23% of over 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Synopsys (SNPS) Rises As Market Takes a Dip: Key Facts
Synopsys (SNPS - Free Report) closed at $430.14 in the latest trading session, marking a +1.81% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.52%. Meanwhile, the Dow lost 1.24%, and the Nasdaq, a tech-heavy index, lost 0.21%.
Shares of the maker of software used to test and develop chips witnessed a loss of 0.57% over the previous month, beating the performance of the Computer and Technology sector with its loss of 7.7%, and the S&P 500's loss of 1.21%.
Investors will be eagerly watching for the performance of Synopsys in its upcoming earnings disclosure. The company's upcoming EPS is projected at $4.12, signifying a 42.07% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.56 billion, indicating a 13.38% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $15.14 per share and revenue of $9.72 billion, indicating changes of +17.27% and +37.77%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Synopsys. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.1% higher. Currently, Synopsys is carrying a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Synopsys is presently being traded at a Forward P/E ratio of 27.91. This indicates a premium in contrast to its industry's Forward P/E of 17.66.
Meanwhile, SNPS's PEG ratio is currently 1.25. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Computer - Software was holding an average PEG ratio of 1.49 at yesterday's closing price.
The Computer - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 55, placing it within the top 23% of over 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.