Ansys reported Q1 earnings miss, acquisition by Synopsys, no financial outlook, stock underperformed S&P 500

From Nasdaq: 2024-05-31 11:31:42

Ansys has underperformed the S&P 500 in the past month. The company reported Q1 earnings that missed estimates. An agreement with Synopsys will lead to Ansys shareholders receiving cash and Synopsys stock. The deal is valued at $35 billion and is expected to close in the first half of 2025. Ansys no longer provides financial outlook due to the pending acquisition.

Microsoft, another player in the Zacks Computer – Software industry, saw a 4.2% gain in the past month. The company reported strong revenues for the quarter ended March 2024. Analysts expect Microsoft to post a 7.8% increase in earnings per share for the current quarter. The Zacks Consensus Estimate has changed by 0.2% in the last 30 days. Microsoft has a Zacks Rank #3 (Hold) and a VGM Score of C.

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