Synopsys has been increasing its earnings by an average of 23.4% per year, which is higher than the Software industry’s average of 20.1%. Its revenues have also been rising by an average of 12.4% yearly. Synopsys has a return on equity of 15.5% and a net margin of 17.4%.
Moreover, Synopsys has $5.9B in shareholder equity and $20.2M in debt, which gives it a debt-to-equity ratio of 0.3%. Its total assets are $9.8B and its total liabilities are $3.9B. Synopsys has an EBITA of $1.0B and a negative interest coverage ratio of -51.9. It has $1.7B in cash and short-term investments
The market capitalization of SNPS stock is $65.62 Billion and the total revenue is $5.07 Billion. Moreover, the stock’s basic EPS is $6.04 and the price-to-earnings ratio is 72.71.
Moreover, this month, the stock underperformed as it was down by 2.86%. However, SNPS’s price is up by 35.25% over the last six months. Moreover, Synopsys Inc. (NASDAQ: SNPS) stock’s year-to-date return is positive with an increase of 33.53% and its overall 1-year return is positive with an increase of 39.29%.
The price chart of Synopsys Inc. indicates that the average volume is 1.055 Million and the current volume is 1.115 Million. The volume graph reveals that the current volume is slightly higher than the average volume line and the volume is rising daily.
Synopsys Inc., Technical Analysis in 1-D Timeframe
The price action shows that the Synopsys Inc., ( NASDAQ: SNPS ) price broke out of a symmetrical triangle pattern after consolidating for three months. It rose by about 27% in three weeks, from $368.70 to $468.64, but failed to make a higher high above the resistance at $462.10.
Thereafter, SNPS stock price then reversed and formed a lower low pattern, dropping by 11% in a month to $415.70. However, the price bounced back from trendline support and may be forming another symmetrical triangle pattern on the daily chart. The buying volume is also increasing, as the current 24-hour volume is above the volume moving average. It suggests that the price may break out upwards in the coming weeks.
At the time of publishing, the Synopsys Inc., ( NASDAQ: SNPS ) price is trading above the 20, 50, 100, and 200-day EMAs (exponential moving average), which is supporting the price trend. Hence, the coin is expected to move upwards giving bullish views over the daily time frame chart.
The current value of RSI is 53.15 points. The 14 SMA is slightly above the median line at 52.31 points which indicates that the price is consolidating and that it might choose a direction soon and currently RSI is neutral.
The MACD line at 2.95 and signal line at 4.60 are above the zero line and the gap between the two is closing suggesting that a crossover is anticipated. This also hints at a possible bullish crossover.
Summary
Synopsys Inc. stock price shows that the investors and traders of the SNPS stock are uncertain about its direction in the 1D time frame. The SNPS share price does not have a clear trend right now. However, the SNPS stock is showing signs of indecision as major indicators – the MACD line is converging which may indicate a signal soon and RSI is neutral as the price is ranging but all major EMA’s are supporting the price upwards giving bullish views. Therefore, it may be assumed as a consolidation to bullish views for the upcoming weeks from the day of publishing on the daily time frame.
Technical Levels:
- The nearest support: $414.56 and $389.29.
- The nearest resistance: $462.10 and $480.72.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/07/08/synopsys-inc-price-prediction-can-snps-stock-price-fall-soon/