Synopsys Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Author: Avi Kapoor | May 22, 2024 10:55am

Synopsys, Inc. (NASDAQ:SNPS) is set to release earnings results for its second quarter, after the closing bell on Wednesday.

Analysts expect the Sunnyvale, California-based company to report quarterly earnings at $3.05 per share, up from $2.54 per share in the year-ago period. Synopsys is expected to post revenue of $1.51 billion, according to data from Benzinga Pro.

On May 6, Synopsys entered into a definitive agreement with Clearlake Capital Group, L.P. and Francisco Partners, two global private equity firms, to sell its Software Integrity Group business.

Synopsys shares fell 0.5% to close at $571.53 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

Needham analyst Charles Shi reiterated a Buy rating with a price target of $660 on March 22. This analyst has an accuracy rate of 76%.
Rosenblatt analyst Blair Abernethy reiterated a Buy rating with a price target of $615 on March 21. This analyst has an accuracy rate of 79%.
Baird analyst Joe Vruwink maintained an Outperform rating and boosted the price target from $624 to $640 on Feb. 22. This analyst has an accuracy rate of 76%.
Stifel analyst Ruben Roy maintained a Buy rating with a price target of $620 on Jan. 17. This analyst has an accuracy rate of 79%.
B of A Securities analyst Vivek Arya maintained a Buy rating with a price target of $650 on Jan. 4. This analyst has an accuracy rate of 83%.

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Posted In: SNPS