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.
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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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