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Earnings Report Below +25% Minimum and Encountering Distributional Pressure - Thursday, August 18, 2022
Synopsys Inc (SNPS -$7.68 or -2.02% to $373.32) churned heavy volume for a 2nd consecutive session while retreating from its all-time high, enduring distributional pressure. It was highlighted in yellow in the 8/17/22 mid-day report with pivot point cited based on its 12/28/21 high plus 10 cents (read here). However, it reported Jul '22 quarterly earnings +16% on +18% sales revenues versus the year ago period, below the +25% minimum earnings guideline (C criteria), raising fundamental concerns. Volume and volatility often increase near earnings news.
SNPS has a 95 Earnings Per Share Rating. It may still be worth keeping an eye on. Subsequent gains above the pivot point backed by at least +40% above average volume may help clinch a convincing technical buy signal. Earnings for the Jan and Apr '22 quarters versus the year ago periods were well above the +25% minimum guideline (C criteria). Annual earnings (A criteria) history has been strong and steady.
The number of top-rated funds owning its shares rose from 1,993 in Sep '20 to 2,563 in Jun '22, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.6 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a Timeliness Rating of A and Sponsorship Rating of B.
Latest Earnings Report Missed the +25% Minimum Guideline - Wednesday, August 18, 2021
Synopsys Inc (SNPS-$0.99 or -0.34% to $290.63) was highlighted in yellow with pivot point cited based on its 2/16/21 high plus 10 cents in the earlier mid-day report (read here). It has been challenging its all-time high with recent gains.
SNPS reported Jul '21 quarterly results after today's close. The Jul '21 quarter showed only a +4% earnings increase versus the year ago period, raising some fundamental concerns. Volume and volatility often increase near earnings news. It had last reported earnings +39% on +19% sales revenues for the Apr '21 quarter versus the year ago period, its 4th strong quarterly comparison above the +25% minimum guideline (C criteria). Annual earnings (A criteria) growth has been strong and steady.
Disciplined investors might choose another buy candidate, however, the high-ranked COMPUTER SOFTWARE and SERVICES firm may still be worth keeping an eye on. Technically, subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal.
The number of top-rated funds owning its shares rose from 1,993 in Sep '20 to 2,198 in Jun '21, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.5 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a Timeliness Rating of C and Sponsorship Rating of B.