Simulations Plus (NASDAQ:SLP) Issues Earnings Results, Beats Expectations By $0.04 EPS

Simulations Plus (NASDAQ:SLP) announced its quarterly earnings data on Tuesday. The technology company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.04, Briefing.com reports. Simulations Plus had a return on equity of 7.95% and a net margin of 16.22%. The firm had revenue of $18.54 million during the quarter, compared to analysts’ expectations of $17.92 million. During the same period in the previous year, the business posted $0.20 EPS. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. Simulations Plus updated its FY24 guidance to $0.54-0.56 EPS and its FY 2024 guidance to 0.540-0.560 EPS.

Simulations Plus Price Performance

Shares of NASDAQ:SLP opened at $46.86 on Wednesday. The firm’s 50 day simple moving average is $47.81 and its 200 day simple moving average is $44.18. 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 capitalization of $936.73 million, a price-to-earnings ratio of 88.42 and a beta of 0.72.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Oppenheimer lifted their price target on shares of Simulations Plus from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Craig Hallum lifted their target price on shares of Simulations Plus from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Finally, William Blair assumed coverage on Simulations Plus in a research note on Friday, June 28th. They issued an “outperform” rating on the stock.

Insider Activity at Simulations Plus

In other Simulations Plus news, Director Daniel L. Weiner sold 3,250 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $48.31, for a total value of $157,007.50. Following the sale, the director now directly owns 8,759 shares in the company, valued at $423,147.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Walter S. Woltosz sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $46.71, for a total value of $934,200.00. Following the completion of the transaction, the director now directly owns 3,540,857 shares in the company, valued at approximately $165,393,430.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel L. Weiner sold 3,250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $48.31, for a total transaction of $157,007.50. Following the sale, the director now owns 8,759 shares in the company, valued at $423,147.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,500 shares of company stock worth $2,072,198. 20.90% of the stock is currently owned by company insiders.

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.