KeyBanc maintained its Synopsys [SNPS] rating to the equivalent of Overweight but changed the price target to $290, in a research note dated 2021-01-05. That figure represents around a 13.86% premium from where the company’s shares closed on Monday. Other analysts also revised their coverage, with Robert W. Baird’s analysts reiterating the shares to “an Outperform” rating in a research note to investors issued in mid August. Meanwhile, RBC Capital Mkts had maintained its rating on SNPS to the earlier “an Outperform” rating, in a research note produced for clients August 20, 2020. In addition, there was no change from Needham on August 20, 2020. The rater maintained SNPS to “a Buy” but assigned new target price of $215.
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Is Synopsys Inc. [NASDAQ:SNPS] a Good Buy Right Now?
It should be noted that SNPS technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 80% Buy in the past month. Data from Synopsys Inc.’s Trend Spotter indicated that the signals were Weakest. The stock current average is 0.73 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.76 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.77 million shares.
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SNPS Price Performance
On Wall Street, Synopsys Inc. [NASDAQ:SNPS] finished Monday’s session down -1.75% at $254.70. The stock went up to $263.00 at the same session while its lowest single day price was $251.35. In the last five days, it saw a fall of about -0.62%, Synopsys Inc. shares dropped by almost -1.75% since the beginning of the year. However, the share price has dropped to as low as -2.46% below its one year high. On 01/04/21, the company shares recorded $263.00, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $251.35. The company’s shares have inclined by 79.67% in the past year. The 50-day SMA achieved is $233.54 while the 200-day SMA is $197.07. Volume gained to 0.98 million from 0.41 million in the previous session.
Synopsys Inc. [SNPS] Valuation Measures
Notably, Synopsys Inc. [SNPS] stock cannot be classified as a good candidate in the listing of underestimated low-priced Software – Infrastructure companies to purchase soonest possible with the prevailing 12-month PE ratio of 59.79. The measure means the stock is exchanging at a premium as compared to the 32.69x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 10.48 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.94 which means SNPS serve an unattractive investment opportunity compared to its competitors.
SNPS Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 249.70 level, and in case of violation of this particular level, it will cause more drop to 244.70 level. On the upper level, 268.00 is still the key resistance. The stock may increase to the subsequent resistance at 261.35. The Relative Strength Index (RSI) pinned on the 14-day chart is 62.26, implying a neutral technical stance while the MACD stands at 4.16, meaning price will increase in the next trading period. Percent R indicator moved to 30.60%, implying low price movement. Stochastic %K at 85.42% suggest selling the stock.
What is the short interest in Synopsys Inc.?
Short interest in the Synopsys Inc. stock has plunged, decreasing by 10000.0 shares to total 1.47 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.46 million, data from Yahoo Finance shows. The increase of 0.68% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.09% of the overall float for the stock.
Synopsys Inc.’s Biggest Shareholders: Who Owns Synopsys Inc. [SNPS]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 16,734,291 shares or roughly 11.03% of the outstanding SNPS shares. This means their shares have reduced by -339,510 from the 16,734,291 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, T. Rowe Price Associates, Inc. updated stake is worth $2,776,634,770. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -0.90% stake valued at $1,919,087,398 while SSgA Funds Management, Inc. cut theirs at $1,481,337,130. During the last quarter, BlackRock Fund Advisors liquidated -76,986 of its shares in Synopsys Inc. while SSgA Funds Management, Inc. sold -43,273 shares. The JPMorgan Investment Management, I’s holdings currently number 5,679,002 shares at $1446441809.4. According to the firm’s last 13F report, Parnassus Investments shares in the company at filing stood at 3,034,854 shares, roughly $690,429,285.
SNPS Earnings Forecast For The Current Quarter
Synopsys Inc. [SNPS] is expected to report strong earnings results for the quarter ending on Jan 2021. Consensus estimates give the company expected revenues of $958.44M and an earnings per share of $1.47 for Jan 2021. Looking further ahead, the company is expected to report revenue of $987.13M at an EPS of $1.53 for Apr 2021.
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SNPS Earnings Estimates For The Current Year
For the financial year, Synopsys Inc. [NASDAQ:SNPS] is expected to bring in revenue of $4.03B. The returns are nearly $340.0 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 6.3, higher than that of FY20 by $0.75. Estimates put this year’s earnings growth at 13.50%, 12.90% for the next, and at an annual 11.50% over the next 5-year period. As for sales, forecasts are for an increase of 9.30% in the current fiscal year and a further 8.20% over the following year.
