On September 25, Synopsys rose 3.01% in pre-market trading, trading at $436.00 per share, with turnover of $1.4738 million. The stock extended gains after climbing over 3% during the prior regular session.
On the news front, BNP Paribas upgraded Synopsys from underperform to neutral with a price target of $420, the latest in a string of bullish analyst actions. Morgan Stanley previously upgraded the stock to overweight with a $500 target, and Baird raised its rating to outperform with a $560 target. The consensus mean price target stands at approximately $553.90 according to FactSet.
Fundamentally, Synopsys delivered a strong fiscal Q3 report with revenue of $2.48 billion, up 42% year-over-year, and adjusted EPS of $3.91, beating the consensus estimate of $3.67 by over 6%. The company raised full-year guidance to revenue of $9.69 billion to $9.74 billion and non-GAAP EPS of $15.04 to $15.10, both above prior forecasts. Management highlighted accelerating EDA growth toward double digits and improving Ansys integration synergies, helping ease earlier market concerns about AI-driven disruption to the EDA industry.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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