These Analysts Slash Their Forecasts On Synopsys Following Downbeat Q3 Results

Core Insights - Synopsys, Inc. reported weaker-than-expected results for Q3, with adjusted earnings of $3.39 per share, missing the Street estimate of $3.74, and quarterly revenue of $1.73 billion, below the consensus estimate of $1.76 billion, but up from $1.52 billion in the same quarter last year [1][2] Financial Performance - Adjusted earnings per share (EPS) for Q3 were $3.39, missing expectations [1] - Quarterly revenue was $1.73 billion, which is an increase from $1.52 billion year-over-year but still below the consensus estimate [1] - The company lowered its fiscal 2025 adjusted EPS guidance from a range of $15.11 to $15.19 to a new range of $12.76 to $12.80, significantly below the previous estimate of $15 [2] Market Reaction - Following the earnings announcement, Synopsys shares fell by 21.4% to $474.64 in pre-market trading [3] Analyst Ratings and Price Targets - Piper Sandler maintained an Overweight rating but lowered the price target from $660 to $630 [9] - Needham maintained a Buy rating and reduced the price target from $660 to $550 [9] - Rosenblatt downgraded the stock from Buy to Neutral, cutting the price target from $650 to $605 [9] - Baird downgraded from Outperform to Neutral, slashing the price target from $670 to $535 [9] - JP Morgan maintained an Overweight rating and lowered the price target from $685 to $600 [9]