Synopsys (NASDAQ:SNPS) Updates FY 2020 After-Hours Earnings Guidance

Synopsys (NASDAQ:SNPS) updated its FY 2020
After-Hours earnings guidance on Wednesday. The company provided earnings per share guidance of 5.18-5.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.07. The company issued revenue guidance of $3.6-3.65 billion, compared to the consensus revenue estimate of $3.62 billion.Synopsys also updated its Q1 2020
After-Hours guidance to 0.89-0.94 EPS.

A number of research analysts have recently issued reports on the company. Credit Suisse Group reiterated a positive rating and issued a $150.00 price target (up from $125.00) on shares of Synopsys in a report on Thursday, August 22nd. Needham & Company LLC set a $145.00 target price on Synopsys and gave the stock a buy rating in a research note on Monday, September 30th. JPMorgan Chase & Co. boosted their target price on Synopsys from $138.00 to $157.00 and gave the stock a neutral rating in a research note on Wednesday, September 11th. KeyCorp boosted their target price on Synopsys from $152.00 to $153.00 and gave the stock an overweight rating in a research note on Thursday, August 22nd. Finally, DA Davidson boosted their target price on Synopsys to $155.00 and gave the stock a positive rating in a research note on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Synopsys presently has a consensus rating of Buy and a consensus target price of $148.30.

SNPS stock traded up $0.80 on Wednesday, hitting $136.01. 1,019,760 shares of the company’s stock were exchanged, compared to its average volume of 1,078,809. Synopsys has a 12-month low of $79.14 and a 12-month high of $146.66. The firm has a 50 day moving average price of $137.49 and a two-hundred day moving average price of $133.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.99. The stock has a market cap of $21.20 billion, a P/E ratio of 48.23, a price-to-earnings-growth ratio of 3.46 and a beta of 1.20.

In related news, VP Sudhindra Kankanwadi sold 8,011 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $144.30, for a total transaction of $1,155,987.30. Following the transaction, the vice president now directly owns 8,663 shares in the company, valued at approximately $1,250,070.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.84% of the stock is owned by insiders.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; 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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Earnings History and Estimates for Synopsys (NASDAQ:SNPS)

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