Synopsys (SNPS) Stock Forecast & Price Target

$552.62 -9.25 (-1.65%)

(As of 02:27 PM ET)

Synopsys - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 11 Analyst Ratings

Sell
0

Hold
1

Buy
10

Based on 11 Wall Street analysts who have issued ratings for Synopsys in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 11 analysts, 1 has given a hold rating, and 10 have given a buy rating for SNPS.

Consensus Price Target

$644.36
16.60% Upside

According to the 11 analysts' twelve-month price targets for Synopsys, the average price target is $644.36. The highest price target for SNPS is $690.00, while the lowest price target for SNPS is $550.00. The average price target represents a forecasted upside of 16.60% from the current price of $552.62.

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SNPS Analyst Ratings Over Time

Type	Current Forecast 11/27/23 to 11/26/24	1 Month Ago 10/28/23 to 10/27/24	3 Months Ago 8/29/23 to 8/28/24	1 Year Ago 11/27/22 to 11/27/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	10 Buy rating(s)	11 Buy rating(s)	10 Buy rating(s)	11 Buy rating(s)
Hold	1 Hold rating(s)	0 Hold rating(s)	0 Hold rating(s)	0 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$644.36	$643.00	$630.09	$519.18
Forecasted Upside	16.60% Upside	28.19% Upside	23.55% Upside	-4.48% Downside
Consensus Rating	Moderate Buy	Buy	Buy	Buy

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SNPS Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

SNPS Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Synopsys Stock vs. The Competition

Type	Synopsys	Computer and Technology Companies	S&P 500
Consensus Rating Score	2.91	2.68	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	14.68% Upside	526.05% Upside	6.38% Upside
News Sentiment Rating	Positive News See Recent SNPS News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
11/22/2024	Wells Fargo & Company 3 of 5 stars	G. Mobley Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Equal Weight	$570.00	+2.20%
11/11/2024	Loop Capital 2 of 5 stars	G. Mobley Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Buy	$675.00	+21.35%
10/24/2024	Piper Sandler 2 of 5 stars		Lower Target	Overweight ➝ Overweight	$687.00 ➝ $670.00	+35.79%
10/22/2024	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$640.00 ➝ $640.00	+26.58%
10/22/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Panigrahi Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Outperform	$650.00	+28.56%
10/15/2024	Berenberg Bank Subscribe to MarketBeat All Access for the recommendation accuracy rating	N. Naing Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Buy	$660.00	+21.00%
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8/23/2024	Rosenblatt Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$635.00 ➝ $635.00	+16.32%
8/22/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$655.00 ➝ $685.00	+21.10%
8/22/2024	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$661.00 ➝ $663.00	+17.41%
6/27/2024	KeyCorp Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$675.00 ➝ $690.00	+15.28%
11/27/2023	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$550.00	+0.92%
11/10/2023	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Overweight	$600.00	+17.88%
10/10/2023	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$510.00 ➝ $600.00	+24.02%
9/29/2023	HSBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy	$551.00	+19.60%
1/17/2023	Atlantic Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Overweight

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Tuesday at 02:54 PM ET.

Should I Buy Synopsys Stock? SNPS Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Sunday, November 24, 2024. Please send any questions or comments about these Synopsys pros and cons to contact@marketbeat.com.

Synopsys
Bull Case

Here are some ways that investors could benefit from investing in Synopsys, Inc.:

Recent earnings performance has been strong, with Synopsys, Inc. reporting $3.43 earnings per share, exceeding expectations and indicating robust financial health.
The stock price has shown positive momentum, currently trading at $557.94, reflecting investor confidence and potential for further growth.
Analysts have a consensus "Buy" rating for Synopsys, Inc., with a target price of $649.82, suggesting significant upside potential based on current valuations.
Institutional ownership is high at 85.47%, indicating strong confidence from large investors, which can be a positive signal for retail investors.
Recent upgrades from multiple analysts, including a price target increase from JPMorgan Chase & Co. to $685.00, highlight the company's growth prospects in the semiconductor sector.

Synopsys
Bear Case

Investors should be bearish about investing in Synopsys, Inc. for these reasons:

The stock has a high price-to-earnings (P/E) ratio of 56.18, which may indicate that it is overvalued compared to its earnings, posing a risk if earnings growth does not meet expectations.
Recent insider selling, including a significant transaction by the CEO, could raise concerns about the company's future performance and insider confidence.
Market volatility in the semiconductor industry can impact Synopsys, Inc.'s stock performance, as fluctuations in demand for electronic design automation software can lead to unpredictable revenue streams.
The company has a relatively high PEG ratio of 3.26, suggesting that its growth may not justify its current valuation, which could deter value-focused investors.
Despite strong recent performance, the stock has a 52-week high of $629.38, indicating potential resistance levels that could limit short-term gains.

SNPS Forecast - Frequently Asked Questions

: According to the research reports of 11 Wall Street equities research analysts, the average twelve-month stock price forecast for Synopsys is $644.36, with a high forecast of $690.00 and a low forecast of $550.00.
: 11 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Synopsys in the last twelve months. There is currently 1 hold rating and 10 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" SNPS shares.
: According to analysts, Synopsys's stock has a predicted upside of 16.60% based on their 12-month stock forecasts.
: Synopsys has been rated by research analysts at Berenberg Bank, Loop Capital, Mizuho, Needham & Company LLC, Piper Sandler, and Wells Fargo & Company in the past 90 days.
: Analysts like Synopsys more than other "computer and technology" companies. The consensus rating score for Synopsys is 2.91 while the average consensus rating score for "computer and technology" companies is 2.68. Learn more on how SNPS compares to other companies.

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This page (NASDAQ:SNPS) was last updated on 11/26/2024 by MarketBeat.com Staff

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Synopsys (SNPS) Stock Forecast & Price Target