Synopsys (SNPS) Moves 3.6% Higher: Will This Strength Last?

Synopsys (SNPS) shares ended the last trading session 3.6% higher at $569.1. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 14.6% gain over the past four weeks.The optimism surrounding the stock is largely due to strong momentum in AI and HPC is fueling growth across Synopsys’ product segments. Synopsys.ai, VSO.ai, and ASO.ai are gaining adoption due to productivity improvements.This maker of software used to test and develop chips is expected to post quarterly earnings of $3.84 per share in its upcoming report, which represents a year-over-year change of +12%. Revenues are expected to be $1.77 billion, up 16% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Synopsys, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SNPS going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Synopsys is part of the Zacks Computer - Software industry. OptimizeRx Corp. (OPRX), another stock in the same industry, closed the last trading session 2.3% higher at $12.97. OPRX has returned -7.9% in the past month.OptimizeRx's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.03. Compared to the company's year-ago EPS, this represents a change of +50%. OptimizeRx currently boasts a Zacks Rank of #1 (Strong Buy).Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity.Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Synopsys, Inc. (SNPS): Free Stock Analysis Report OptimizeRx Corp. (OPRX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks