Simulations Plus (NASDAQ:SLP) Issues FY 2024 Earnings Guidance

Simulations Plus (NASDAQ:SLP) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.660-0.680 for the period, compared to the consensus EPS estimate of 0.660. The company issued revenue guidance of $66.0 million-$69.0 million, compared to the consensus revenue estimate of $67.2 million. Simulations Plus also updated its FY24 guidance to $0.66-0.68 EPS.

Wall Street Analyst Weigh In

Separately, Craig Hallum increased their price objective on shares of Simulations Plus from $50.00 to $51.00 and gave the company a buy rating in a report on Thursday, January 4th.

Simulations Plus Stock Down 0.4 %

NASDAQ:SLP traded down $0.14 on Wednesday, reaching $38.46. The company’s stock had a trading volume of 215,830 shares, compared to its average volume of 100,758. The firm has a market cap of $768.05 million, a price-to-earnings ratio of 72.57 and a beta of 0.72. Simulations Plus has a 12-month low of $32.69 and a 12-month high of $52.69. The stock has a 50 day moving average price of $41.33 and a 200 day moving average price of $40.39.

Simulations Plus (NASDAQ:SLP) last released its quarterly earnings results on Wednesday, January 3rd. The technology company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. Simulations Plus had a net margin of 17.12% and a return on equity of 8.18%. The business had revenue of $14.50 million for the quarter, compared to the consensus estimate of $13.94 million. During the same period in the previous year, the firm earned $0.06 EPS. The business’s revenue was up 21.2% on a year-over-year basis. Equities research analysts expect that Simulations Plus will post 0.67 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John Kenneth Paglia sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $43.74, for a total value of $43,740.00. Following the completion of the transaction, the director now owns 2,097 shares of the company’s stock, valued at $91,722.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Walter S. Woltosz sold 18,945 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.02, for a total transaction of $720,288.90. Following the completion of the sale, the director now owns 3,641,250 shares in the company, valued at approximately $138,440,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Kenneth Paglia sold 1,000 shares of the company’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $43.74, for a total value of $43,740.00. Following the completion of the sale, the director now directly owns 2,097 shares of the company’s stock, valued at $91,722.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,945 shares of company stock valued at $1,562,829. Corporate insiders own 20.90% of the company’s stock.

Institutional Trading of Simulations Plus

Several hedge funds and other institutional investors have recently made changes to their positions in SLP. Barclays PLC grew its holdings in Simulations Plus by 2,626.1% in the 2nd quarter. Barclays PLC now owns 627 shares of the technology company’s stock valued at $27,000 after buying an additional 604 shares during the period. Point72 Middle East FZE purchased a new stake in Simulations Plus during the fourth quarter valued at about $35,000. Lazard Asset Management LLC purchased a new position in shares of Simulations Plus in the 4th quarter worth about $61,000. Tower Research Capital LLC TRC lifted its stake in shares of Simulations Plus by 82.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,421 shares of the technology company’s stock valued at $69,000 after purchasing an additional 641 shares in the last quarter. Finally, State of Wyoming raised its holdings in Simulations Plus by 63.1% in 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 period. Institutional investors and hedge funds own 78.08% of the company’s stock.

About Simulations Plus

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.