Synopsys (NASDAQ:SNPS) updated its FY 2019 earnings guidance on Wednesday. The company provided EPS guidance of $4.20-4.27 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.90. The company issued revenue guidance of $3.29-3.34 billion, compared to the consensus revenue estimate of $3.12 billion.Synopsys also updated its Q1 2019 guidance to $0.95-1.00 EPS.
Several research firms have weighed in on SNPS. BidaskClub upgraded shares of Synopsys from a buy rating to a strong-buy rating in a research report on Tuesday, August 28th. DA Davidson lifted their price objective on shares of Synopsys to $110.00 and gave the stock a buy rating in a research report on Thursday, August 23rd. JPMorgan Chase & Co. boosted their price target on shares of Synopsys to $98.00 and gave the company an underweight rating in a report on Thursday, August 23rd. KeyCorp boosted their price target on shares of Synopsys from $112.00 to $115.00 and gave the company an overweight rating in a report on Thursday, August 23rd. Finally, Needham & Company LLC restated a buy rating and set a $105.00 price target (up from $100.00) on shares of Synopsys in a report on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $106.86.
Shares of Synopsys stock traded down $3.45 on Wednesday, hitting $89.45. 1,281,330 shares of the company traded hands, compared to its average volume of 1,191,776. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.04. Synopsys has a 12-month low of $80.13 and a 12-month high of $103.40. The stock has a market cap of $13.66 billion, a P/E ratio of 101.65, a P/E/G ratio of 3.65 and a beta of 1.29.
Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; Verification Continuum Platform, which provides 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.
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