RBC Capital Believes Synopsys (NASDAQ: SNPS) Won’t Stop Here

By Carrie Williams

In a report released today, Amit Daryanani from RBC Capital reiterated a Buy rating on Synopsys (NASDAQ: SNPS), with a price target of $85. The company’s shares closed yesterday at $73.40, close to its 52-week high of $75.19.

According to TipRanks.com, Daryanani is a top 25 analyst with an average return of 27.4% and a 87.7% success rate. Daryanani covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Benchmark Electronics, and Applied Materials.

Currently, the analyst consensus on Synopsys is Strong Buy and the average price target is $81.33, representing a 10.8% upside.

In a report released today, Needham also reiterated a Buy rating on the stock with a $77 price target.

Synopsys’ market cap is currently $11.3B and has a P/E ratio of 38.63. The company has a book value ratio of 3.3208.

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Synopsys, Inc. engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following geographical segments: United States, Europe, Japan, and Asia Pacific and Other. Its 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’s 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.