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INVESTOR'S BUSINESS DAILY and GLENN LARKIN

Synopsys Stock Climbs Into Buy Zone With Earnings Due Next Week

Synopsys IBD IBD 50

IBD 50 member Synopsys is trading within a buy range with its next quarterly report on tap for Aug. 17.

It's trading approximately 1% above a 377.70 buy point from a first-stage consolidation. Volume is trending lower today after two days of up volume.

Understand that buying a stock just ahead of earnings involves risk since you typically don't have enough time to establish a profit cushion before the latest quarterly numbers come out. Be sure to follow sound buy and sell rules to minimize your exposure.

See How IBD Helps You Make More Money In Stocks

The company showed 47% earnings-per-share growth in the latest quarterly report, while sales growth came in at 25%.

Analysts expect earnings growth of 9% for the quarter, and a 24% gain for the full year.

Synopsys has a 97 Composite Rating and holds the No. 2 rank among its peers in the Computer Software-Design industry group. Cadence Design Systems is the No. 1-ranked stock within the group.

Note: Dates for earnings reports are subject to change. Check the company's website for any updates.

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