Synopsys Posts Financial Results for Third Quarter Fiscal Year 2024
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Deutsche Bank Reiterates Buy Rating on Synopsys (SNPS)
August 23, 2024 1:19 PM EDTDeutsche Bank analyst Gianmarco Conti reiterated a Buy rating and $645.00 price target on Synopsys (NASDAQ: SNPS).
The analyst comments "Synopsys posted a strong quarter with revenue growth of 13% and non-GAAP margin of 40%, driven by a strong performance in hardware sales (upfront 29% of... More
Griffin Securities Reiterates Buy Rating on Synopsys (SNPS)
August 23, 2024 10:14 AM EDTGriffin Securities analyst Jay Vleeschhouwer reiterated a Buy rating and $650.00 price target on Synopsys (NASDAQ: SNPS).
The analyst comments "With its 3Q24 results, Synopsys continued to show the momentum in the Design Automation (Core EDA, IP, and hardware) ensuing from the broad essentialness of what the EDA industry provides and enables. The adjusted backlog of $7.9 billion up $1.4 billion year/year - matched our estimate, and we expect backlog will continue to build over the remainder of FY24 and in FY25. We have revised our FY24-FY25 estimates, in recognition of which we are reiterating our... More
Morgan Stanley Reiterates Overweight Rating on Synopsys (SNPS)
August 22, 2024 7:42 AM EDTMorgan Stanley analyst Lee Simpson reiterated an Overweight rating and $625.00 price target on Synopsys (NASDAQ: SNPS)
The analyst comments "Momentum in the business is evident, especially in IP, analog and with parts of Synopsys.ai. Synopsys remains on track to divest SIG later this year and... More
Synopsys (SNPS) PT Raised to $663 at Baird
August 22, 2024 6:43 AM EDTBaird analyst Jon Vruwink raised the price target on Synopsys (NASDAQ: SNPS) to $663.00 (from $661.00) while maintaining a Outperform rating.
The analyst comments "Maintain Outperform rating. F3Q24 (July) revenue +13% YoY (~in-line), EBIT margin of 40.0% vs. 36.4% YoY (consensus=39%), EPS +27% YoY (5% upside); backlog momentum still... More
Morgan Stanley Reiterates Overweight Rating on Synopsys (SNPS)
August 22, 2024 5:42 AM EDTMorgan Stanley analyst Lee Simpson reiterated an Overweight rating and $625.00 price target on Synopsys (NASDAQ: SNPS)
The analyst comments "MS First Take: In what looks like another decent quarterly print, the company confirms momentum in core EDA business, which will go some... More
Synopsys (SNPS) PT Raised to $685 at JPMorgan
August 22, 2024 5:25 AM EDTJPMorgan analyst Harlan Sur raised the price target on Synopsys (NASDAQ: SNPS) to $685.00 (from $655.00) while maintaining a Overweight rating.
The analyst comments "Demand for chip design software tools (EDA) remains strong and is reflected in Synopsyss solid Jul-Qtr quarter results and Oct quarter guidance and overall commentary. The team maintained its prior FY24 revenue growth outlook of up 15% Y/Y (but better operating margins/earnings). Heading into the quarter, there were some market concerns of bookings slowdown/backlog... More
