Synopsys Stock To Continue Rising After An Earnings Boost?

by Trefis Team
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Synopsys (NASDAQ: SNPS), a company that focuses on silicon design and verification, silicon intellectual property, and software security and quality, saw its stock  rise by 13% to $317 in the last twenty-one trading days. In comparison, the broader S&P500 rose by 1.8% over the last twenty-one trading days. The stock price rose after Q3 2021 (ended July 2021) results, where the company beat consensus revenues and earnings. For Q3 2021, the company posted revenues of $1.01 billion, up 9.6% y-o-y. Non-GAAP earnings for the quarter were $1.81 compared to $1.74 in the same period of the previous year. Now, is SNPS stock poised to grow? Based on our machine learning analysis of trends in the stock price over the last ten years, there is a 75% chance of a rise in SNPS stock over the next month (twenty-one trading days). See our analysis on Synopsys Stock Chances Of Rise for more details.

Five Days: SNPS 8.1%, vs. S&P500 -0.6%; Outperformed market

(1% event probability)

  • Synopsys’ stock rose 8.1% over a five day trading period ending 8/20/2021, compared to the broader market (S&P500) which rose -0.6%
  • A change of 8% or more over five trading days has a 1% event probability, which has occurred 37 times out of 2517 in the last ten years

Ten Days: SNPS 8.4%, vs. S&P500 0.2%; Outperformed market

(5% event probability)

  • Synopsys’ stock rose 8.4% over the last ten trading days (two weeks), compared to the broader market (S&P500) rise of 0.2%
  • A change of 8.4% or more over ten trading days has a 5% event probability, which has occurred 131 times out of 2517 in the last ten years

Twenty-One Days: SNPS 13%, vs. S&P500 1.8%; Outperformed market

(4% event probability)

  • Synopsys’ stock rose 13% over the last twenty-one trading days (one month), compared to the broader market (S&P500) rise of 1.8%
  • A change of 13% or more over twenty-one trading days has a 4% event probability, which has occurred 104 times out of 2517 in the last ten years

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