Synopsys Gears Up For Q3 Print; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Synopsys, Inc. SNPS is expected to report its financial results for the third quarter fiscal year 2023, after the closing bell on Aug. 16, 2023.

Analysts expect the company to post quarterly earnings at $2.74 per share, up from year-ago earnings of $2.1 per share. The company’s revenue might come in at $1.48 billion, compared to $1.25 billion in the year-ago period.

Synopsys shares gained 0.4% to close at $436.74 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Wells Fargo analyst Gary Mobley maintained an Overweight rating and raised the price target from $420 to $505 on June 5, 2023. This analyst has an accuracy rate of 73%.
• Baird analyst Joe Vruwink maintained an Outperform rating and increased the price target from $445 to $447 on May 18, 2023. This analyst has an accuracy rate of 67%.
• B of A Securities analyst Vivek Arya upgraded the stock from Neutral to Buy with a price target of $410 on Dec. 16, 2022. This analyst has an accuracy rate of 82%.
• Stifel analyst Ruben Roy initiated coverage on the stock with a Buy rating and a price target of $445 on Sep. 8, 2022. This analyst has an accuracy rate of 81%.

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