SNPS Stock Jumps On Earnings Report

Synopsys (SNPS) reported quarterly results late Wednesday that beat estimates on the top and bottom lines. SNPS stock climbed.


The company reported adjusted earnings of $2.10 a share on revenue of $1.25 billion. Analysts expected Synopsys to report earnings of $1.99 a share on revenue of $1.2 billion. The results were for the company’s fiscal third quarter.

SNPS stock rose 2.6% to 391 during after-hours trading on the stock market today.

Synopsys has a 98 Composite Rating and holds the No. 2 rank among its peers in the Computer Software-Design industry group. Cadence Design Systems (CDNS) is the No. 1-ranked stock within the group.

The company provides electronic design automation software companies use for developing electronic products and software applications.

SNPS Stock: 20% Revenue Growth

“Synopsys continues to execute very well,” Chief Executive Aart de Geus said in prepared remarks with the Synopsys earnings release.

“We expect to cross the $5 billion revenue mark in FY ’22, with over 20% revenue growth, strong margin expansion and EPS growth, and more than $1.6 billion in operating cash flow,” he said. “Technology strength across the board, including multiple game-changing innovations, drove outstanding technical, competitive, and business results.”

SNPS stock is near a buy point.

Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.


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