Sleeper Stocks: Synopsys, Inc. (SNPS), Consolidated Edison, Inc. (ED)

Synopsys, Inc. (NASDAQ:SNPS)’s beta now stands at 1.24 and when compared to its 200-day moving average and its 50-day moving average, SNPS price stands 9.8% above and 13.05% above respectively. The stock dropped by -3.54% or -$3.66 from its last recorded high of $103.4 which it attained on September 14 to close at $99.74 per share. Over the past 52 weeks, the shares of Synopsys, Inc. has been trading as low as $79.14 before witnessing a massive surge by 26.03% or $20.6. This price movement has led to the SNPS stock receiving more attention and has become one to watch out for. It jumped by 1.04% on Wednesday and this got the market excited. Its average daily volatility for this week is 1.9% which is more than the 1.86% recorded over the past month.

Synopsys, Inc. (SNPS) rose 7.91% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a rally that has seen it rise 13.83% and is now up by 18.4% since start of this year. A look at its monthly performance shows that the stock has recorded a 16.3% gain over the past 30 days. Its equity price climbed by 11.37% over the past three months which led to its overall six-month increase to stand at 8.03%.

Experts from research firms are bullish about the near-term performance of Synopsys, Inc. with most of them predicting a $112.11 price target on a short-term (12 months) basis. The average price target by the analysts will see a 12.4% rise in the stock and would lead to SNPS’s market cap to surge to $16.8B. The stock has been rated an average 1.8, which roughly stands towards the bullish end of the spectrum. Reuters looked into the 9 analysts that track Synopsys, Inc. (NASDAQ:SNPS) and find out that 2 of them rated it as a Hold. 7 of the 7 analysts rated it as a Buy or a Strong Buy while 0 advised investors to desist from buying the stock or sell it if they already possess it.

A look at SNPS technical analysis shows that its 14-day Relative Strength Index (RSI) is in a overbought zone after reaching 72.1 point. Its trading volume has lost -184266 shares compared to readings over the past three months as it recently exchanged 1095734 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 1280000 shares, and this is 0.86 times the normal volume.

The price of Consolidated Edison, Inc. (NYSE:ED) currently stands at $77.26 after it went down by $-0.33 or -0.43% and has found a strong support at $76.95 a share. If the ED price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $76.64 mark would also be bad for the stock as it means that the stock would plunge by 0.8% from its current position. However, if the stock price is able to trade above the resistance point around $77.7, then it could likely surge higher to try and break the upward resistance which stands at $78.14 a share. Its average daily volatility over the past one month stands at 1.72%. The stock has plunged by 0.23% from its 52-weeks high of $77.08 which it reached on Dec. 13, 2018. In general, it is 7.95% above its 52-weeks lowest point which stands at $71.12 and this setback was observed on Dec. 06, 2018.

Analysts have predicted a price target for Consolidated Edison, Inc. (ED) for 1 year and it stands at an average $78.44/share. This means that it would likely increase by 1.53% from its current position. The current price of the stock has been moving between $77.08 and $77.83. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $74. On the other hand, one analyst is super bullish about the price, setting a target as high as $84.

The ED stock Stochastic Oscillator (%D) is at 76.58%, which means that it is currently neutral. The shares P/S ratio stands at 1.99 which compares to the 3.09 recorded by the industry or the 2.28 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 17.93, which is higher than the 3.51 multiple of 12-month price-earnings (P/E). The company’s earnings have gone up, with a quarterly increase rate of 41.8% over the past five years.

Analysts view Consolidated Edison, Inc. (NYSE:ED) as a Sell, with 3.4 consensus rating. Reuters surveyed 17 analysts that follow ED and found that 10 of those analysts rated the stock as a Hold. The remaining 7 were divided, with 1 analyst rating it as a Buy or a Strong Buy while 6 analysts advised investors to desist from buying Consolidated Edison, Inc. (ED) shares or sell it if they already own it.