Simulations Plus (NASDAQ:SLP) Updates FY24 Earnings Guidance

Simulations Plus (NASDAQ:SLP) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $0.66-0.68 for the period, compared to the consensus EPS estimate of $0.66. The company issued revenue guidance of $66-69 million, compared to the consensus revenue estimate of $67.17 million.

Wall Street Analyst Weigh In

Separately, Craig Hallum raised their price target on shares of Simulations Plus from $50.00 to $51.00 and gave the stock a buy rating in a research note on Thursday, January 4th.

Simulations Plus Stock Performance

Shares of NASDAQ SLP traded down $0.14 during midday trading on Wednesday, reaching $38.46. The company’s stock had a trading volume of 213,316 shares, compared to its average volume of 100,568. Simulations Plus has a fifty-two week low of $32.69 and a fifty-two week high of $52.69. The company has a market cap of $768.05 million, a P/E ratio of 72.57 and a beta of 0.72. The business’s 50 day moving average price is $41.33 and its two-hundred day moving average price is $40.39.

Simulations Plus (NASDAQ:SLP) last issued its quarterly earnings data on Wednesday, January 3rd. The technology company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Simulations Plus had a net margin of 17.12% and a return on equity of 8.18%. The company had revenue of $14.50 million for the quarter, compared to analysts’ expectations of $13.94 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Simulations Plus’s revenue for the quarter was up 21.2% on a year-over-year basis. Sell-side analysts forecast that Simulations Plus will post 0.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Walter S. Woltosz sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $39.94, for a total value of $798,800.00. Following the transaction, the director now owns 3,600,195 shares of the company’s stock, valued at approximately $143,791,788.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Walter S. Woltosz sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $39.94, for a total value of $798,800.00. Following the completion of the transaction, the director now directly owns 3,600,195 shares of the company’s stock, valued at $143,791,788.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Walter S. Woltosz sold 18,945 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.02, for a total value of $720,288.90. Following the completion of the transaction, the director now owns 3,641,250 shares of the company’s stock, valued at approximately $138,440,325. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,945 shares of company stock valued at $1,562,829. 20.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Simulations Plus

A number of institutional investors and hedge funds have recently modified their holdings of SLP. Barclays PLC increased its stake in shares of Simulations Plus by 2,626.1% in the second quarter. Barclays PLC now owns 627 shares of the technology company’s stock worth $27,000 after buying an additional 604 shares during the period. Point72 Middle East FZE bought a new stake in Simulations Plus during the 4th quarter valued at about $35,000. Lazard Asset Management LLC purchased a new position in Simulations Plus in the fourth quarter worth about $61,000. Tower Research Capital LLC TRC lifted its stake in shares of Simulations Plus by 82.2% in the third quarter. Tower Research Capital LLC TRC now owns 1,421 shares of the technology company’s stock worth $69,000 after buying an additional 641 shares in the last quarter. Finally, State of Wyoming grew its holdings in shares of Simulations Plus by 63.1% during the fourth quarter. State of Wyoming now owns 2,332 shares of the technology company’s stock valued at $85,000 after buying an additional 902 shares during the last quarter. 78.08% of the stock is owned by hedge funds and other institutional investors.

Simulations Plus Company Profile

Simulations Plus, Inc develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services. It offers GastroPlus, which simulates the absorption and drug interaction of compounds administered to humans and animals; and DDDPlus and MembranePlus simulation products.