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

Synopsys (NASDAQ:SNPS) issued an update on its FY 2020
After-Hours earnings guidance on Wednesday morning. 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.

Shares of Synopsys stock traded up $0.80 on Wednesday, reaching $136.01. The company’s stock had a trading volume of 1,019,312 shares, compared to its average volume of 1,078,809. The company has a market capitalization of $21.20 billion, a price-to-earnings ratio of 48.23, a P/E/G ratio of 3.46 and a beta of 1.20. The firm’s fifty day simple moving average is $137.49 and its two-hundred day simple moving average is $133.03. Synopsys has a 52 week low of $79.14 and a 52 week high of $146.66. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.03.

SNPS has been the subject of a number of research analyst reports. Zacks Investment Research raised Synopsys from a sell rating to a hold rating and set a $142.00 target price for the company in a report on Monday, August 26th. DA Davidson lifted their target price on Synopsys to $155.00 and gave the stock a positive rating in a report on Thursday, August 22nd. Bank of America initiated coverage on Synopsys in a report on Monday, September 23rd. They issued a buy rating and a $171.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Synopsys from $138.00 to $157.00 and gave the stock a neutral rating in a report on Wednesday, September 11th. Finally, KeyCorp lifted their target price on Synopsys from $152.00 to $153.00 and gave the stock an overweight rating in a report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $148.30.

In related news, VP Sudhindra Kankanwadi sold 8,011 shares of Synopsys stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $144.30, for a total value of $1,155,987.30. Following the completion of the sale, the vice president now owns 8,663 shares of the company’s stock, valued at $1,250,070.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.84% of the company’s stock.

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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