Piper Sandler lowered the firm’s price target on Synopsys (SNPS) to $655 from $670 and keeps an Overweight rating on the shares following Q4 results. Piper told investors FY25 revenue guidance came in lower than the firm expected even considering its lowered estimates in late October on the impacts of the 53rd week and divestiture of the Optical Solutions Group. The firm believes this hiccup in the growth outlook will be a near-term overhang on the stock, only partially offset by continued progress on EBIT margins to 40% next year.
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Read More on SNPS:
- Dollar General reports mixed Q3, American Air raises Q4 outlook: Morning Buzz
- Synopsys price target raised to $630 from $600 at BofA
- Synopsys price target raised to $660 from $635 at Rosenblatt
- Synopsys price target lowered to $630 from $644 at Baird
- Synopsys Reports Strong 2024 Financial Results
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
