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Synopsys (SNPS) Stock Sinks As Market Gains: What You Should Know
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Synopsys (SNPS - Free Report) closed the latest trading day at $561.87, indicating a -0.57% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.3%. Meanwhile, the Dow gained 0.99%, and the Nasdaq, a tech-heavy index, added 0.27%.
Shares of the maker of software used to test and develop chips witnessed a gain of 12.66% over the previous month, beating the performance of the Computer and Technology sector with its gain of 0.27% and the S&P 500's gain of 2.1%.
The investment community will be closely monitoring the performance of Synopsys in its forthcoming earnings report. The company is scheduled to release its earnings on December 4, 2024. The company is predicted to post an EPS of $3.29, indicating a 3.79% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $1.63 billion, showing a 2.07% escalation compared to the year-ago quarter.
Investors should also pay attention to any latest changes in analyst estimates for Synopsys. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.3% decrease. As of now, Synopsys holds a Zacks Rank of #4 (Sell).
Looking at its valuation, Synopsys is holding a Forward P/E ratio of 38.15. This expresses a premium compared to the average Forward P/E of 31.32 of its industry.
Also, we should mention that SNPS has a PEG ratio of 2.53. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Software industry had an average PEG ratio of 2.53 as trading concluded yesterday.
The Computer - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 54, positioning it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Synopsys (SNPS) Stock Sinks As Market Gains: What You Should Know
Synopsys (SNPS - Free Report) closed the latest trading day at $561.87, indicating a -0.57% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.3%. Meanwhile, the Dow gained 0.99%, and the Nasdaq, a tech-heavy index, added 0.27%.
Shares of the maker of software used to test and develop chips witnessed a gain of 12.66% over the previous month, beating the performance of the Computer and Technology sector with its gain of 0.27% and the S&P 500's gain of 2.1%.
The investment community will be closely monitoring the performance of Synopsys in its forthcoming earnings report. The company is scheduled to release its earnings on December 4, 2024. The company is predicted to post an EPS of $3.29, indicating a 3.79% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $1.63 billion, showing a 2.07% escalation compared to the year-ago quarter.
Investors should also pay attention to any latest changes in analyst estimates for Synopsys. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.3% decrease. As of now, Synopsys holds a Zacks Rank of #4 (Sell).
Looking at its valuation, Synopsys is holding a Forward P/E ratio of 38.15. This expresses a premium compared to the average Forward P/E of 31.32 of its industry.
Also, we should mention that SNPS has a PEG ratio of 2.53. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Software industry had an average PEG ratio of 2.53 as trading concluded yesterday.
The Computer - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 54, positioning it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.