Synopsys Inc (NASDAQ:SNPS) on Wednesday reported upbeat financial results for the first quarter and cut its FY26 GAAP EPS guidance below estimates.
Synopsys reported quarterly earnings of $3.77 per share which beat the analyst consensus estimate of $3.56 per share. The company reported quarterly sales of $2.409 billion which beat the analyst consensus estimate of $2.390 billion.
Synopsys lowered its FY2026 GAAP EPS guidance from $2.49-$2.90 to $2.21-$2.62.
“Synopsys enters 2026 with an expanded portfolio, leadership positions across the business, and the most compelling roadmap in our history,” said Sassine Ghazi, president and CEO of Synopsys. “AI continues to fuel robust system-level and semiconductor R&D, and the increasing AI capabilities throughout our portfolio strengthen our strategic advantage and accelerate our customers’ innovation.”
Synopsys shares fell 3.8% to $432.00 in pre-market trading.
These analysts made changes to their price targets on Synopsys following earnings announcement.
- Piper Sandler analyst Clarke Jeffries maintained Synopsys with a Neutral and lowered the price target from $520 to $430.
- Rosenblatt analyst Blair Abernethy maintained the stock with a Buy and lowered the price target from $560 to $530.
Considering buying SNPS stock? Here’s what analysts think:
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