Synopsys (NASDAQ:SNPS) Releases Q1 Earnings Guidance

Synopsys (NASDAQ:SNPS) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.77-$2.82 for the period, compared to the consensus estimate of $3.52. The company issued revenue guidance of $1.435-$1.465 billion, compared to the consensus revenue estimate of $1.64 billion. Synopsys also updated its FY25 guidance to $14.88-$14.96 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Robert W. Baird dropped their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Wednesday. Wells Fargo & Company started coverage on shares of Synopsys in a research note on Friday, November 22nd. They set an “equal weight” rating and a $570.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday. Finally, Berenberg Bank started coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price for the company. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $650.50.

Synopsys Stock Performance

Shares of SNPS opened at $588.00 on Thursday. The stock has a market capitalization of $90.32 billion, a PE ratio of 61.00, a P/E/G ratio of 3.48 and a beta of 1.08. Synopsys has a 1 year low of $457.52 and a 1 year high of $629.38. The company’s 50-day simple moving average is $529.85 and its 200-day simple moving average is $545.69.

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.