These Analysts Increase Their Forecasts On Synopsys After Strong Q3 Results
Portfolio Pulse from Lisa Levin
Synopsys, Inc. (NASDAQ:SNPS) reported better-than-expected Q3 results with earnings of $2.88 per share and sales of $1.49 billion, beating analyst consensus estimates. The company estimates full-year revenue growth between 14% and 15%, and earnings per share growth between 24% and 25%. Following the earnings announcement, Keybanc, Baird, and Rosenblatt raised their price targets on Synopsys. The company also announced leadership changes with Sassine Ghazi becoming CEO effective Jan. 1.
August 17, 2023 | 12:55 pm
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Synopsys reported strong Q3 results and raised its full-year growth forecast. This positive news, along with raised price targets from several analysts, could lead to a short-term increase in the company's stock price.
Synopsys reported better-than-expected Q3 results and raised its full-year growth forecast. This positive news is likely to increase investor confidence and demand for the stock, leading to a short-term increase in the stock price. Additionally, raised price targets from Keybanc, Baird, and Rosenblatt further support this positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100