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Synopsys Gets Price Target Increases By Analysts After Q3 Results, Shares Gain

Synopsys Gets Price Target Increases By Analysts After Q3 Results, Shares Gain
Synopsys, Inc. (NASDAQ:SNPS) reported upbeat results for its third quarter on Wednesday.

The company also said it sees FY22 revenue of $5.060 billion to $5.090 billion, versus analystsa?? estimates of $5.01 billion. The company also expects adjusted EPS of $8.80 to $8.85.

Synopsys shares rose 1.8% to $388.00 in pre-market trading.

Several analysts made changes to their price targets on Synopsys following the release of results.




Keybanc increased price target on Synopsys from $445 to $455. However, Keybanc analyst Jason Celino maintained the stock with an Overweight.




Needham raised Synopsys price target from $380 to $420. However, Needham analyst Charles Shi maintained the stock with a Buy rating.




Rosenblatt boosted the price target on the stock from $390 to $405. However, Rosenblatt analyst Blair Abernethy maintained Synopsys with a Buy.
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