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

Simulations Plus (NASDAQ:SLP) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.660-0.680 for the period, compared to the consensus earnings per share 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.

Simulations Plus Price Performance

SLP stock traded down $0.14 during trading on Wednesday, reaching $38.46. The company had a trading volume of 210,565 shares, compared to its average volume of 100,676. Simulations Plus has a 52 week low of $32.69 and a 52 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 has a 50 day moving average of $41.33 and a 200 day moving average 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, hitting 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 during the quarter, compared to the consensus estimate of $13.94 million. During the same period in the prior year, the firm earned $0.06 earnings per share. Simulations Plus’s revenue was up 21.2% on a year-over-year basis. Research analysts expect that Simulations Plus will post 0.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Simulations Plus

In other news, Director Walter S. Woltosz sold 18,945 shares of the 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 sale, the director now owns 3,641,250 shares in the company, valued at $138,440,325. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Walter S. Woltosz sold 20,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $39.94, for a total transaction of $798,800.00. Following the sale, the director now owns 3,600,195 shares in the company, valued at $143,791,788.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Walter S. Woltosz sold 18,945 shares of the 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 sale, the director now owns 3,641,250 shares in the company, valued at approximately $138,440,325. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,945 shares of company stock valued at $1,562,829. Corporate insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Simulations Plus

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Simulations Plus by 0.9% in the third quarter. BlackRock Inc. now owns 2,538,799 shares of the technology company’s stock worth $123,235,000 after purchasing an additional 23,227 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Simulations Plus by 1.8% in the third quarter. Vanguard Group Inc. now owns 1,125,881 shares of the technology company’s stock worth $54,651,000 after purchasing an additional 20,072 shares during the last quarter. State Street Corp boosted its holdings in Simulations Plus by 4.8% in the first quarter. State Street Corp now owns 709,603 shares of the technology company’s stock worth $36,176,000 after purchasing an additional 32,705 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Simulations Plus by 4.8% during the 1st quarter. Invesco Ltd. now owns 448,797 shares of the technology company’s stock worth $22,880,000 after acquiring an additional 20,564 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Simulations Plus by 7.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 391,798 shares of the technology company’s stock worth $16,338,000 after acquiring an additional 26,053 shares during the last quarter. Hedge funds and other institutional investors own 78.08% of the company’s stock.

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.