Spotlight on Synopsys: Analyzing the Surge in Options Activity
Portfolio Pulse from Benzinga Insights
Financial analysis reveals a bearish sentiment among investors towards Synopsys (NASDAQ:SNPS), with 62% of unusual options trades indicating bearishness. The trades suggest a price target range of $460.0 to $640.0 for the next three months. Synopsys, a provider of electronic design automation software, is currently trading at $543.86, down by -0.75%. An analyst from Rosenblatt maintains a Buy rating with a target price of $615. The company's anticipated earnings release is imminent.
February 21, 2024 | 3:45 pm
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Bearish sentiment in options trading and a current slight decrease in stock price, but with a Buy rating from Rosenblatt and a target price of $615.
The bearish sentiment in options trading suggests short-term pressure on SNPS stock. However, the Buy rating and target price from Rosenblatt indicate underlying strength and potential upside. The immediate earnings release could be a pivotal moment for the stock, adding uncertainty.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100