Synopsys (SNPS) : 6 analysts are covering Synopsys (SNPS) and their average rating on the stock is 1.33, which is read as a Strong Buy. 4 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Synopsys (SNPS) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels.
Synopsys (SNPS) : 6 investment research analysts covering Synopsys (SNPS) have an average price target of $63.33 for the near short term. The highest target price given by the Brokerage Firm to the stock is $64 and the lowest target is $60 for the short term. Analysts expect the variance to be within $1.63 of the average price.
Also, Equity Analysts at the Brokerage Firm, Pacific Crest, maintains their rating on the shares of Synopsys (NASDAQ:SNPS). Pacific Crest has a Overweight rating on the shares. As per the latest research report, the brokerage house raises the price target to $64 per share from a prior target of $60. The rating by the firm was issued on August 18, 2016.
Synopsys (NASDAQ:SNPS): After opening at $57.7, the stock dipped to an intraday low of $57.43 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $58.6 and the buying power remained strong till the end. The stock closed at $58.4 for the day, a gain of 1.18% for the day session. The total traded volume was 790,476. The stocks close on the previous trading day was $57.72.
Synopsys, Inc. is engaged in providing technology solutions used to develop electronics and electronic systems. It supplies the electronic design automation (EDA) software that engineers use to design, create prototypes for and test integrated circuits, also known as chips. It also supplies software and hardware used to develop the systems that incorporate integrated circuits and the software that runs on those integrated circuits. Its intellectual property (IP) products are pre-designed circuits that engineers use as components of larger chip designs rather than redesigning those circuits themselves. It also provides technical services to support its solutions and it help its customers develop chips and electronic systems.