Simulations Plus (NASDAQ:SLP) Releases FY24 Earnings Guidance

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

Analyst Ratings Changes

Separately, Craig Hallum lifted 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 Performance

SLP stock traded down $0.14 during midday trading on Wednesday, reaching $38.46. 209,880 shares of the company were exchanged, compared to its average volume of 99,892. Simulations Plus has a 1-year low of $32.69 and a 1-year high of $52.69. The company has a market cap of $768.05 million, a price-to-earnings ratio of 72.83 and a beta of 0.72. The stock’s 50-day simple moving average is $41.33 and its 200 day simple moving average is $40.39.

Simulations Plus (NASDAQ:SLP) last posted its quarterly earnings data on Wednesday, January 3rd. The technology company reported $0.10 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 company had revenue of $14.50 million for the quarter, compared to analyst estimates of $13.94 million. During the same period in the previous year, the business posted $0.06 earnings per share. Simulations Plus’s quarterly revenue was up 21.2% on a year-over-year basis. On average, research analysts anticipate that Simulations Plus will post 0.67 earnings per share for the current year.

Insider Activity

In other news, Director Walter S. Woltosz sold 18,945 shares of Simulations Plus 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 directly owns 3,641,250 shares in the company, valued at approximately $138,440,325. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Simulations Plus news, Director Walter S. Woltosz sold 18,945 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.02, for a total transaction of $720,288.90. Following 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 SEC, which is available through this link. Also, Director John Kenneth Paglia sold 1,000 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was 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 directly owns 2,097 shares of the company’s stock, valued at $91,722.78. The disclosure for this sale can be found here. Insiders sold 39,945 shares of company stock valued at $1,562,829 in the last three months. 20.90% of the stock is currently owned by company insiders.

Institutional Trading of Simulations Plus

A number of hedge funds have recently added to or reduced their stakes in SLP. JPMorgan Chase & Co. raised its holdings in shares of Simulations Plus by 407.0% in the 1st quarter. JPMorgan Chase & Co. now owns 51,431 shares of the technology company’s stock worth $2,622,000 after purchasing an additional 41,286 shares during the period. US Bancorp DE lifted its position in Simulations Plus by 233.4% during the first quarter. US Bancorp DE now owns 4,171 shares of the technology company’s stock valued at $212,000 after buying an additional 2,920 shares in the last quarter. Citigroup Inc. grew its stake in Simulations Plus by 15.0% during the first quarter. Citigroup Inc. now owns 13,821 shares of the technology company’s stock worth $705,000 after buying an additional 1,805 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Simulations Plus by 12.6% in the first quarter. PNC Financial Services Group Inc. now owns 10,851 shares of the technology company’s stock worth $552,000 after acquiring an additional 1,212 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of Simulations Plus by 56.6% in the 1st quarter. MetLife Investment Management LLC now owns 8,535 shares of the technology company’s stock valued at $435,000 after acquiring an additional 3,084 shares during the period. 78.08% of the stock is owned by institutional investors and hedge funds.

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.