Synopsys Rating Reiterated by Zacks (SNPS)
Zacks reissued their neutral rating on shares of Synopsys (NASDAQ:SNPS) in a research note released on Friday morning. They currently have a $41.00 target price on the stock.
Zacks’ analyst wrote, “Synopsys delivered mixed fiscal second-quarter 2014 results with earnings missing the Zacks Consensus Estimate but revenues beating the same. Revenues also improved on a year-over-year basis impacted by higher adoption of Synopsys’ products. The company however provided a modest fiscal third-quarter 2014 guidance. We believe the company’s recent product launches, acquisitions and deal wins will boost results, going ahead. Additionally, unique intellectual properties and global support provided by the company will likely drive its forthcoming results. However, competition from its peers coupled with a challenging technology spending environment and uncertainty regarding proper time to realize acquisition synergies keep us on the sidelines. Thus, we reiterate our Neutral recommendation on Synopsys.”
Zacks has also modified their ratings on a number of other information technology stocks in the few days. The firm reiterated its neutral rating on shares of salesforce.com, inc.. They have a $53.00 price target on that stock. Also, Zacks downgraded shares of PROS Holdings, Inc. from a neutral rating to an underperform rating. Their analysts now have a $21.20 price target on that stock.
A number of other analysts have also recently weighed in on SNPS. Analysts at DA Davidson cut their price target on shares of Synopsys from $47.00 to $46.00 in a research note on Thursday. They now have a buy rating on the stock. Analysts at Summit Research upgraded shares of Synopsys from a hold rating to a buy rating in a research note on Tuesday, May 20th. They now have a $47.00 price target on the stock, up previously from $44.00. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $45.50.
Synopsys (NASDAQ:SNPS) opened at 39.09 on Friday. Synopsys has a one year low of $34.55 and a one year high of $41.62. The stock’s 50-day moving average is $37.64 and its 200-day moving average is $38.7. The company has a market cap of $6.047 billion and a price-to-earnings ratio of 25.58.
Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.65 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.60 by $0.05. The company had revenue of $517.70 million for the quarter, compared to the consensus estimate of $512.15 million. During the same quarter last year, the company posted $0.66 earnings per share. Synopsys’s revenue was up 3.7% compared to the same quarter last year. Analysts expect that Synopsys will post $2.48 EPS for the current fiscal year.
Synopsys, Inc is engaged in providing technology solutions used to develop electronics and electronic systems.
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