Synopsys (SNPS) Set to Announce Earnings on Wednesday

Synopsys (NASDAQ:SNPS) is scheduled to be announcing its earnings results after the market closes on Wednesday, December 4th. Analysts expect the company to announce earnings of $3.29 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Synopsys Trading Up 1.3 %

Shares of Synopsys stock opened at $565.93 on Tuesday. Synopsys has a 12-month low of $457.52 and a 12-month high of $629.38. The company has a market cap of $86.93 billion, a P/E ratio of 58.71, a PEG ratio of 3.41 and a beta of 1.08. The company’s fifty day simple moving average is $527.03 and its two-hundred day simple moving average is $545.36.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Wells Fargo & Company initiated coverage on shares of Synopsys in a report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 target price on the stock. Loop Capital assumed coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Mizuho began coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $653.80.

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.