Home Analyst Ratings KeyBanc reiterates Synopsys rating to Overweight and sets new price target...

KeyBanc reiterates Synopsys [SNPS] rating to Overweight and sets new price target at $290

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.

Get the hottest stocks to trade every ‎day before the market opens 100% free. Click here now. 

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.


The 2021 Backdoor Crypto Portfolio (free)

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.

Sponsored


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.

Get the hottest stocks to ‎trade every day before the market opens 100% free. Click here ‎now. 

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.‎

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Apple Inc. (AAPL) Stocks dip but future prospects for the company seem very positive

On Thursday, Apple shares (NASDAQ: AAPL) closed at $120.99 which is 3.5% lower. In the after-hours session, the price further declined by 0.2%.  The...

Tesla Inc. (TSLA): a Game of Thrones, Tweets and Bitcoin

Tesla Inc. (NASDAQ: TSLA) shares plunged by more than 8% when the market closed on Thursday. The news that most significantly impacted this plunge...

The Reasons Behind 30% Fall Of Tricida, Inc.’s (TCDA) Shares In Extended Trades

The drugmaker Tricida, Inc.’s (TCDA) shares experienced a fall of -29.62% in the trading after the ring of the bell on Thursday. The South...

Why Chromadex Corp. (CDXC) Remains A Gainer After Ring Of The Bell?

The biotechnology company ChromaDex Corporation (CDXC) continued the rally after ring of the bell on Thursday rising +18.68%. During the regular session price of...

ReTo Eco-Solutions Stock Drops Pre-Market Today: Why?

The manufacturer and distributor of construction material ReTo Eco-Solutions Inc. (NASDAQ: RETO) has been experiencing a fall of more than 10% in pre-market session...

Were You Wondering Why Northern Dynasty (NAK) Stock Spiked 24% In Early Trades Today?

Shares of mineral exploration firm Northern Dynasty Minerals Ltd. (NYSE: NAK) has been gaining momentum in early trades today. As of 11:42 a.m. EST,...

What Took Gabelli Healthcare (GRX) Stock Down 18% In Pre-Market?

The Gabelli Healthcare & Wellness Trust (GRX) is sinking -18.33% in pre-market trading today following the announcement of a cash distribution by the organization...

What’s Hurting Tengasco Inc (TGC) Stock? Why Is It Down 26% Pre-Market?

Stock of oil and gas exploration firm Tengasco, Inc. (NYSE: TGC) is seeing a decline in pre-market trades today. Shares of the company were...

Related News

KeyBanc reiterates Magna International [MGA] rating to Overweight and sets new price target at $86

KeyBanc maintained its Magna International rating to the equivalent of Overweight but changed the price target to $86.0 from $72, in a research...

Jefferies upgrades Medifast [MED] to Buy rating with a $265 price target

Jefferies took its Medifast rating to the equivalent of Buy from Hold, and the price target to $265.0 from $205, in a research...

American Eagle Outfitters [AEO] Upgraded to Outperform at RBC Capital

RBC Capital took its American Eagle Outfitters rating to the equivalent of Outperform from Sector Perform, and the price target to $30.0 from...

KeyBanc reiterates Nike [NKE] rating to Overweight and sets new price target at $180

KeyBanc maintained its Nike rating to the equivalent of Overweight but changed the price target to $180.0 from $174, in a research note...

Raymond James upgrades Atlantic Capital [ACBI] to Outperform

Raymond James took its Atlantic Capital rating to the equivalent of Outperform from Market Perform, in a research note dated 2021-01-25. Other analysts...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get The Best Stocks To Trade Every Day!...100% Free

We do not sell or share your information with anyone.

Get Best Morning Financial Newsletter... 100% Free

Best stocks ideas

Analysts’ Upgrades & Downgrades

Insider Watchlist

Important Earnings

We do not sell or share your information with anyone.