Needham analyst Richard Valera maintained a Buy rating on Synopsys (NASDAQ:SNPS) on Tuesday, setting a price target of $275, which is approximately 6.21% above the present share price of $258.92.
Valera expects Synopsys to post earnings per share (EPS) of $1.30 for the first quarter of 2021.
The current consensus among 7 TipRanks analysts is for a Strong Buy rating of shares in Synopsys, with an average price target of $275.
The analysts price targets range from a high of $290 to a low of $250.
In its latest earnings report, released on 10/31/2020, the company reported a quarterly revenue of $1.03 billion and a net profit of $195.75 million. The company's market cap is $39.62 billion.
According to TipRanks.com, Needham analyst Richard Valera is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 22.4% and a 68.49% success rate.
Synopsys, Inc. engages in the provision of software products and consulting services in the electronic design automation industry. The firm operates through the following segments: Semiconductor and System Design, and Software Integrity. It provides intellectual property products, which are pre-designed circuits that engineers use as components of larger chip designs, as well as software and hardware that are used to develop the electronic systems that incorporate chips and the software that runs on the circuits. It also offers technical services to support the customers in industries such as electronics, financial services, energy, and industrials for developing chips and electronic systems. The company was founded by Aart J. de Geus, Bill Krieger, Dave Gregory, and Rick Rudell in December 1986 and is headquartered in Mountain View, CA.