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Synopsys (SNPS) Stock Moves -1.28%: What You Should Know
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The most recent trading session ended with Synopsys (SNPS - Free Report) standing at $485.73, reflecting a -1.28% shift from the previouse trading day's closing. This change was narrower than the S&P 500's 1.34% loss on the day. On the other hand, the Dow registered a loss of 0.98%, and the technology-centric Nasdaq decreased by 1.62%.
Shares of the maker of software used to test and develop chips have appreciated by 6.96% over the course of the past month, outperforming the Computer and Technology sector's loss of 0.34% and the S&P 500's loss of 1.57%.
Investors will be eagerly watching for the performance of Synopsys in its upcoming earnings disclosure. In that report, analysts expect Synopsys to post earnings of $3.04 per share. This would mark year-over-year growth of 59.16%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.58 billion, indicating a 23.3% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $11.09 per share and revenue of $5.83 billion, which would represent changes of +24.61% and +14.67%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Synopsys. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Synopsys possesses a Zacks Rank of #2 (Buy).
Looking at its valuation, Synopsys is holding a Forward P/E ratio of 44.37. This expresses a premium compared to the average Forward P/E of 28.27 of its industry.
Meanwhile, SNPS's PEG ratio is currently 2.71. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Computer - Software industry was having an average PEG ratio of 2.25.
The Computer - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 146, positioning it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Synopsys (SNPS) Stock Moves -1.28%: What You Should Know
The most recent trading session ended with Synopsys (SNPS - Free Report) standing at $485.73, reflecting a -1.28% shift from the previouse trading day's closing. This change was narrower than the S&P 500's 1.34% loss on the day. On the other hand, the Dow registered a loss of 0.98%, and the technology-centric Nasdaq decreased by 1.62%.
Shares of the maker of software used to test and develop chips have appreciated by 6.96% over the course of the past month, outperforming the Computer and Technology sector's loss of 0.34% and the S&P 500's loss of 1.57%.
Investors will be eagerly watching for the performance of Synopsys in its upcoming earnings disclosure. In that report, analysts expect Synopsys to post earnings of $3.04 per share. This would mark year-over-year growth of 59.16%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.58 billion, indicating a 23.3% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $11.09 per share and revenue of $5.83 billion, which would represent changes of +24.61% and +14.67%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Synopsys. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Synopsys possesses a Zacks Rank of #2 (Buy).
Looking at its valuation, Synopsys is holding a Forward P/E ratio of 44.37. This expresses a premium compared to the average Forward P/E of 28.27 of its industry.
Meanwhile, SNPS's PEG ratio is currently 2.71. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Computer - Software industry was having an average PEG ratio of 2.25.
The Computer - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 146, positioning it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.