Needham analyst Charles Shi reiterated a Buy rating on Synopsys today and set a price target of $660.00.
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Charles Shi’s rating is based on the strategic acquisition of Ansys by Synopsys, which has received conditional approval from China. This acquisition is expected to enhance Synopsys’s earnings per share earlier than initially projected, with accretion anticipated in FY26 instead of FY27.
The merger is set to bolster Synopsys’s position as a leading chip-to-system design software company, with projected combined revenues surpassing $10 billion in FY26. Shi believes that the removal of the deal overhang will prompt a catch-up rally in the stock, further supporting his Buy rating.
In another report released on July 10, KeyBanc also reiterated a Buy rating on the stock with a $610.00 price target.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNPS in relation to earlier this year.