Synopsys price target lowered to $430 from $520 at Piper Sandler

Piper Sandler analyst Clarke Jeffries lowered the firm’s price target on Synopsys (SNPS) to $430 from $520 and keeps a Neutral rating on the shares. The firm notes Q1 results were only a modest update with a less than 1% top line beat and unchanged FY26 guidance besides higher EPS driven by faster debt paydown. Bigger picture, investors hoping to see a more rapid recovery in IP revenue were left wanting with 0c of quarter-over-quarter growth, but management expects sequential growth for the rest of the year, Piper adds.