Technology

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our price target by $46 to $624, 39x our FY 25 (Oct.) EPS view, near peers and above SNPS’s 3-year historical average (~33x), given accelerating design complexity and AI momentum, as well as our positive view of the potential ANSYS acquisition. We raise our FY 24 EPS view by $0.15 to $13.60 and raise FY 25’s by $0.06 to $16.00. SNPS prints Jan-Q sales of $1.65B (+21% Y/Y) and EPS of $3.56 (+36%), both above consensus, while increasing its FY 24 EPS guide. Despite the rise, we think its outlook may include an overly cautious view on China (15% of Jan-Q sales vs. 12% in the prior Q). Design IP was particularly strong (sales +53% Y/Y to $526M), and we think SNPS’s industry-leading IP portfolio […]

Synopsys’ (SNPS) shares were trending higher early Thursday after the software company lifted its fiscal full-year 2024 earnings outlook on the back of better-than-expected first-quarter results. Per-share adjusted earnings are now set to come in between $13.47 and $13.55 for the fiscal year ending Oct. 31, the company said late Wednesday, up from its previous projections of $13.33 to $13.41. The consensus on Capital IQ is for normalized EPS of $13.46. The stock gained 4.7% in premarket trading. The firm reiterated its full-year revenue guidance range of $6.57 billion to $6.63 billion, while the Street is looking for $6.62 billion. The company also continues to see its adjusted operating margin improving by roughly two percentage points, Chief Financial Officer Shelagh Glaser said on an earnings call, according to a Capital IQ transcript. “We delivered a solid start to the year with revenue in the upper end of our guided range,”