Morgan Stanley lowered the firm’s price target on Synopsys (SNPS) to $510 from $715 and keeps an Overweight rating on the shares. A notable and unexpected miss in Design IP revenue overshadowed an otherwise “solid” Q3 report and raised concerns for FY26 growth ex-Ansys (ANSS), the analyst tells investors. The firm expects the market to trim expectations for earnings in FY26 as IP issues “won’t mend soon,” but maintains an Overweight rating given recent trading.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SNPS:
- Cathie Wood Loads Up on Klarna, Synopsys, and Rubrik, Trims Shopify and Roblox Stocks
- Cathie Wood’s ARK Investment buys 16K shares of Synopsys today
- Synopsys Earnings Call: Growth Amid Challenges
- Morning News Wrap-Up: Wednesday’s Biggest Stock Market Stories!
- Synopsys falls -33.8%