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Synopsys shares slide as soft guidance offsets Q4 results beat

by December 5, 2024
written by December 5, 2024

Investing.com — Synopsys issued softer guidance Wednesday that offset fiscal fourth-quarter results that topped analyst estimates.  

Synopsys Inc (NASDAQ:SNPS) tumbled more than 7% in premarket trading Thursday. 

For the three months ended Oct. 31, the company reported adjusted Q4 EPS of $3.40 on revenue of $1.64 billion, topping estimates for $3.30 and $1.63B, respectively.

For Q1, adjusted EPS was forecast in a range of $2.77 to $2.82 on revenue of $1.44B to $1.47B, compared with estimates for $3.52 on revenue of $1.64M.

For the full year, adjusted EPS was forecast in a range of $14.88 to $14.96 on revenue of $6.75B to $6.81B, compared with estimates for $14.89 on revenue of $6.91B.

“In what looks like a disappointing print and weak Q1 guide, the company has broken the recent trend to better than expected momentum in core EDA business,” Morgan Stanley (NYSE:MS) analysts led by Lee Simpson commented. 

“This will challenge investor interest after the share price has strengthened of late – mirroring that across the semis space.”

Separately, Wolfe Research analysts maintained an Outperform rating on SNPS shares and raised the target price from $620 to $630. 

“SNPS beat across key metrics and provided FY25 guidance below consensus due to impacts to their fiscal year and a more pragmatic outlook on China,” the firm said in a note. “After adjusting for these changes, we view the outlook for FY25 positively.”

Yasin Ebrahim contributed to this report. 

 

This post appeared first on investing.com
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