Synopsys (SNPS) Expected to Announce Quarterly Earnings on Wednesday

Synopsys (NASDAQ:SNPS - Get Free Report) will likely be releasing its earnings data after the market closes on Wednesday, February 26th. Analysts expect Synopsys to post earnings of $2.81 per share and revenue of $1.45 billion for the quarter. Parties interested in listening to the company's conference call can do so using this link.

Synopsys Stock Performance

NASDAQ:SNPS traded down $19.13 during mid-day trading on Friday, hitting $474.84. 1,367,064 shares of the stock were exchanged, compared to its average volume of 1,066,644. The stock has a market capitalization of $73.40 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 3.28 and a beta of 1.12. The firm's 50-day simple moving average is $510.88 and its 200 day simple moving average is $517.44. Synopsys has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Analysts Set New Price Targets

Several equities analysts have weighed in on SNPS shares. Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They issued a "buy" rating and a $675.00 price objective for the company. Wells Fargo & Company reduced their price objective on Synopsys from $570.00 to $540.00 and set an "equal weight" rating on the stock in a research report on Monday, January 13th. Needham & Company LLC restated a "buy" rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Robert W. Baird reduced their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research report on Thursday, December 5th. Finally, Piper Sandler cut their target price on Synopsys from $670.00 to $655.00 and set an "overweight" rating on the stock in a report on Friday, December 6th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $641.82.

Insider Activity

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares of the company's stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.66% of the stock is owned by company insiders.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.