Synopsys (SNPS) Ascends While Market Falls: Some Facts to Note

Company Overview - Synopsys is projected to report earnings of $3.26 per share for the upcoming earnings disclosure on August 21, 2024, indicating a year-over-year growth of 13.19% [8] - The Zacks Consensus Estimate for revenue is $1.53 billion, reflecting an increase of 2.55% from the previous year [8] - Currently, Synopsys has a Zacks Rank of 3 (Hold), with the consensus EPS estimate remaining unchanged over the last 30 days [5] Financial Performance - For the annual period, earnings are anticipated to be $13.03 per share and revenue at $6.19 billion, representing increases of +16.44% and +5.91% respectively compared to the last year [1] - The company's Forward P/E ratio is 45.1, which is a premium compared to the industry's average Forward P/E of 30.24 [10] Industry Context - The Computer - Software industry, which includes Synopsys, holds a Zacks Industry Rank of 158, placing it in the bottom 38% of over 250 industries [2] - The average PEG ratio for the Computer - Software industry is currently 2.47, while Synopsys has a PEG ratio of 2.81 [6] Market Performance - Over the past month, Synopsys shares have decreased by 1.32%, underperforming the Computer and Technology sector's gain of 0.47% and the S&P 500's gain of 1.96% [3] - In the latest trading session, Synopsys closed at $588.33, marking a slight increase of +0.11% from the previous day, outperforming the S&P 500, which fell by 0.16% [7]