Synopsys Inc. (NASDAQ: SNPS) recently posted its financial results for the fourth quarter and fiscal year 2024, with Q4 earnings and revenues both topping estimates. Despite beating expectations, stock dipped by 7% due to the company's weak guidance. This has prompted analysts to suggest that the dip in Synopsys stock price creates a buying opportunity. ADespite the dip, the company reported strong 2024 financial results and is anticipating revenue deceleration in FY25. However, some are optimistic about its strategic growth proven by a record revenue and believe that SNPS is set to outperform the market. As the price of SNPS fell 7% following underwhelming guidance, Piper Sandler lowered its price target to $655.00. Furthermore, the company issued a disappointing full-year revenue outlook causing the shares to fall. Despite the stock's disappointment in market gains, SNPS shows promising expansion opportunities powered by the 'AI-Driven reinvention of Compute'. Analysts from different firms continue to conduct evaluations, with mixed but generally positive views. Whereas, institutional shareholders controlling 89% of the company hint at its stability.
Synopsys SNPS News Analytics from Thu, 29 Aug 2024 07:00:00 GMT to Sat, 07 Dec 2024 20:16:23 GMT -
Rating -2
- Innovation 1
- Information 6
- Rumor -3
