D.A. Davidson & Co. Sees Solid F3Q Results For Synopsys

In a report published Thursday, D.A. Davidson & Co. analyst Thomas Diffely reiterated a Buy rating and $48.00 price target on

. In the report, D.A. Davidson & Co. noted, “F3Q (Jul) earnings upside. Revenue of $522 million was in line with the Street mean of $521 million and at the midpoint of the guided range. Pro-forma EPS of $0.65 was above the high end of guidance and exceeded the Street by $0.05. Timing of expenses (largely delayed hiring) helped drive the earnings upside.” Synopsys closed on Wednesday at $39.30.