New Buy Rating for Synopsys (SNPS), the Technology Giant

Stifel Nicolaus analyst Ruben Roy maintained a Buy rating on Synopsys today and set a price target of $550.00.

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Roy covers the Technology sector, focusing on stocks such as Viavi Solutions, Coherent Corp, and Advanced Micro Devices. According to TipRanks, Roy has an average return of 39.5% and a 72.66% success rate on recommended stocks.

In addition to Stifel Nicolaus, Synopsys also received a Buy from J.P. Morgan’s Harlan Sur in a report issued today. However, on December 23, Robert W. Baird maintained a Hold rating on Synopsys (NASDAQ: SNPS).

Based on Synopsys’ latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $2.25 billion and a net profit of $448.45 million. In comparison, last year the company earned a revenue of $1.63 billion and had a net profit of $1.11 billion

Based on the recent corporate insider activity of 60 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, Shelagh Glaser, the CFO of SNPS sold 3,657.00 shares for a total of $1,685,035.89.