Skip to content
Wells Fargo Analyst Increases Price Target for Synopsys
On May 18, 2023, Gary Mobley, an analyst at Wells Fargo, announced that he is maintaining an Overweight rating on Synopsys (NASDAQ:SNPS) and increasing the price target from $410 to $420. According to Capital IQ, other analysts have given Synopsys an average buy rating and a price target range of $343 to $455. Currently, the price target for Synopsys is $424.18.
It’s worth noting that in February 2023, Wells Fargo had adjusted the price target on Synopsys from $425 to $410. Furthermore, in February 2022, Synopsys initiated a $200 million accelerated share repurchase agreement with Wells Fargo Bank.
As of May 1, 2023, the Synopsys Inc. share began trading at $370.76.
Financial Health
Neutral
Debt to equity ratio:
Price to earnings ratio:
Price to book ratio:
Show more
Social Sentiments
We did not find social sentiment data for this stock
Analyst Ratings
There are no analysts data to display
‘
SNPS Stock Performance and Financial Analysis on May 18, 2023
On May 18, 2023, SNPS stock opened at 377.35, which was higher than the previous day’s close of 375.14. The day’s trading range was between 374.20 and 380.06, with a volume of 1,103,594 shares.
SNPS is a technology services company in the packaged software industry with its corporate headquarters in Mountain View, California. The company has an annual revenue of $5.1B and an annual profit of $984.6M, with a net profit margin of 19.42%.
The P/E ratio for SNPS is 63.2, which is higher than the industry average, indicating that the stock is relatively expensive. The price/sales ratio is 9.03, which is also higher than the industry average, suggesting that investors are willing to pay a premium for the company’s stock. The price/book ratio is 10.19, indicating that the stock is trading at a higher price compared to its book value.
Compared to its peers in the industry, SNPS stock had a relatively stable performance on May 18, 2023.
Analysts forecasted an EPS of $2.71 for SNPS for the current quarter. The company’s earnings growth rate and revenue growth rate in the previous year were 29.72% and 20.73%, respectively.
Synopsys Incs Stock Analysis: Potential 12.71% Increase and Strong Future Ahead
On May 18, 2023, Synopsys Inc’s stock (SNPS) was trading at $377.08, and the 13 analysts offering 12-month price forecasts had a median target of $425.00, with a high estimate of $470.00 and a low estimate of $410.00. This indicates a potential increase of +12.71% from the current price. The consensus among 15 polled investment analysts is to buy stock in Synopsys Inc, indicating the company has a strong future ahead. Synopsys Inc had an earnings per share of $2.71 and sales of $1.5 billion in the current quarter, with the reporting date yet to be determined.
