Are Wall Street Analysts Bullish on Synopsys Stock?

Synopsys, Inc. (SNPS), based in Sunnyvale, California, is a leading provider of electronic design automation (EDA) software with a market capitalization of $86.8 billion. The company is recognized for its cutting-edge solutions in the semiconductor industry, playing a vital role in helping companies design and verify advanced chips and systems.

Shares of SNPS have underperformed the broader market over the last year. The stock has gained 3.5% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 31.3%. In 2024, the stock has gained 9.1%, compared to SPX's 25.5% gains on a YTD basis.