ANSYS ANSS is benefiting from higher demand for its simulation products across verticals like high tech, semiconductor and aerospace & defense.The company’s 2022 and 2023 revenues are anticipated to rise 5.3% and 10.3%, year over year respectively. The company’s earnings are expected to increase 5.2% and 10.9% on a year-over-year basis in 2022 and 2023, respectively.ANSS outpaced estimates in all the trailing four quarters, delivering an earnings surprise of 13.2%, on average. The long-term EPS growth rate stands at 7.9%.In the last reported quarter, ANSS reported non-GAAP earnings of $1.77 per share, beating the Zacks Consensus Estimate by 9.9%. Non-GAAP revenues of $475.9 million surpassed the Zacks Consensus Estimate by 2%. The top line increased 5% (up 12% at constant currency) from the year-ago quarter.For third-quarter 2022, ANSYS expects non-GAAP earnings in the range of $1.56-$1.70 per share. Non-GAAP revenues are anticipated to be between $455 million and $475 million. Management projects a non-GAAP operating margin of 37.8-39.4%. For 2022, ANSYS expects non-GAAP revenues of $2.005-$2.055 billion.The stock is down 44% from its 52-week high level of $413.89 reached on Nov 5, 2021, making it more affordable for investors.ANSYS, Inc. Price ANSYS, Inc. price | ANSYS, Inc. QuoteStrong FundamentalsHeadquartered in Canonsburg, PA, ANSYS develops and globally markets engineering simulation software and services widely used by engineers, designers, researchers and students across a broad spectrum of industries and academia.The company is gaining higher adoption of ANSYS’ simulation solutions in the various verticals like aerospace & defense, high tech, ground transportation and automotive.In the automotive sector, higher demand for electrification and advanced driver assistance systems solutions led to double-digit revenue growth across the Americas and Asia-Pacific regions in the last reported quarter.The company is well-positioned to gain from the rapid adoption of Internet of Things in the manufacturing industry. Recent business collaborations with Intel Foundry Services and Samsung Foundry, along with frequent product launches are tailwinds. Increases in chip designing activity in the semiconductor space also bode well.Aggressive acquisition strategy has also played a pivotal part in developing the company’s business in the last few years. Some of the recent notable acquisitions include Motor Design Limited, OnScale, Zemax and Phoenix Integration.Despite strong demand, the company's near-term prospects might be affected owing to global macroeconomic weakness, inflation, and lingering supply chain troubles. Intensifying competition and adverse currency translations are added concerns for this Zacks Rank #3 (Hold) stock.Stocks to ConsiderSome better-ranked stocks from the broader technology space are Synopsys SNPS, Pure Storage PSTG and Arista Networks ANET. Pure Storage currently sports a Zacks Rank #1 (Strong Buy), whereas Arista Networks and Synopsys carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Synopsys’ 2022 earnings is pegged at $8.85 per share, up 4.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 16.2%.Synopsys’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 3%. Shares of SNPS have gained 10.4% in the past year.The Zacks Consensus Estimate for PSTG’s 2022 earnings is pegged at $1.18 per share, rising 24.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 35.5%.Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 171.8%. Shares of PSTG have gained 14.8% in the past year.The Zacks Consensus Estimate for Arista Network’s 2022 earnings is pegged at $4.04 per share, increasing 1.3% in the past 60 days. The long-term earnings growth rate is anticipated to be 15.7%.Arista Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.1%. Shares of ANET have risen 31.1% in the past year. This Little-Known Semiconductor Stock Could Be Your Portfolio’s Hedge Against Inflation Everyone uses semiconductors. But only a small number of people know what they are and what they do. If you use a smartphone, computer, microwave, digital camera or refrigerator (and that’s just the tip of the iceberg), you have a need for semiconductors. That’s why their importance can’t be overstated and their disruption in the supply chain has such a global effect. But every cloud has a silver lining. Shockwaves to the international supply chain from the global pandemic have unearthed a tremendous opportunity for investors. And today, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most in a new FREE report. It's yours at no cost and with no obligation.>>Yes, I Want to Help Protect My Portfolio During the RecessionWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Synopsys, Inc. (SNPS): Free Stock Analysis Report ANSYS, Inc. (ANSS): Free Stock Analysis Report Arista Networks, Inc. (ANET): Free Stock Analysis Report Pure Storage, Inc. (PSTG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research