Robert W. Baird analyst Joseph Vruwink maintained a Buy rating on Synopsys (SNPS) today and set a price target of $192.00. The company’s shares closed last Monday at $157.52, close to its 52-week high of $166.87.
According to TipRanks.com, Vruwink is a 2-star analyst with an average return of 2.2% and a 80.0% success rate. Vruwink covers the Technology sector, focusing on stocks such as Manhattan Associates, Veeva Systems, and SPS Commerce.
Currently, the analyst consensus on Synopsys is a Strong Buy with an average price target of $174.82, representing a 9.9% upside. In a report issued on February 14, Wells Fargo also maintained a Buy rating on the stock with a $180.00 price target.
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Based on Synopsys’ latest earnings release for the quarter ending January 31, the company reported a quarterly net profit of $104 million. In comparison, last year the company had a net profit of $154 million.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNPS in relation to earlier this year. Last month, John Runkel, the General Counsel & of SNPS sold 10,000 shares for a total of $1,411,400.
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Synopsys, Inc. engages in the provision of software products and consulting services in the electronic design automation industry. The firm operates through the following segments: Semiconductor and System Design, and Software Integrity.
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