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Synopsys (SNPS) Exceeds Market Returns: Some Facts to Consider
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The most recent trading session ended with Synopsys (SNPS - Free Report) standing at $518.40, reflecting a +0.93% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 0.41%. Meanwhile, the Dow experienced a rise of 0.69%, and the technology-dominated Nasdaq saw an increase of 0.8%.
Shares of the maker of software used to test and develop chips have appreciated by 3.67% over the course of the past month, outperforming the Computer and Technology sector's loss of 0.01% and the S&P 500's loss of 0.97%.
Analysts and investors alike will be keeping a close eye on the performance of Synopsys in its upcoming earnings disclosure. The company's earnings report is set to go public on December 4, 2024. The company's earnings per share (EPS) are projected to be $3.29, reflecting a 3.79% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1.63 billion, reflecting a 2.07% rise from the equivalent quarter last year.
Investors should also note any recent changes to analyst estimates for Synopsys. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Synopsys holds a Zacks Rank of #4 (Sell).
Digging into valuation, Synopsys currently has a Forward P/E ratio of 39.16. This valuation marks a premium compared to its industry's average Forward P/E of 29.65.
It's also important to note that SNPS currently trades at a PEG ratio of 2.6. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Computer - Software industry currently had an average PEG ratio of 2.51 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 82, positioning it in the top 33% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Synopsys (SNPS) Exceeds Market Returns: Some Facts to Consider
The most recent trading session ended with Synopsys (SNPS - Free Report) standing at $518.40, reflecting a +0.93% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 0.41%. Meanwhile, the Dow experienced a rise of 0.69%, and the technology-dominated Nasdaq saw an increase of 0.8%.
Shares of the maker of software used to test and develop chips have appreciated by 3.67% over the course of the past month, outperforming the Computer and Technology sector's loss of 0.01% and the S&P 500's loss of 0.97%.
Analysts and investors alike will be keeping a close eye on the performance of Synopsys in its upcoming earnings disclosure. The company's earnings report is set to go public on December 4, 2024. The company's earnings per share (EPS) are projected to be $3.29, reflecting a 3.79% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1.63 billion, reflecting a 2.07% rise from the equivalent quarter last year.
Investors should also note any recent changes to analyst estimates for Synopsys. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Synopsys holds a Zacks Rank of #4 (Sell).
Digging into valuation, Synopsys currently has a Forward P/E ratio of 39.16. This valuation marks a premium compared to its industry's average Forward P/E of 29.65.
It's also important to note that SNPS currently trades at a PEG ratio of 2.6. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Computer - Software industry currently had an average PEG ratio of 2.51 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 82, positioning it in the top 33% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.