Simulations Plus (NASDAQ:SLP) Posts Quarterly Earnings Results

Simulations Plus (NASDAQ:SLP) posted its earnings results on Tuesday. The technology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04, Briefing.com reports. The business had revenue of $18.54 million for the quarter, compared to analyst estimates of $17.92 million. Simulations Plus had a return on equity of 7.95% and a net margin of 16.22%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 EPS. 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 Stock Performance

NASDAQ:SLP opened at $46.86 on Wednesday. The stock has a fifty day moving average price of $47.81 and a 200-day moving average price of $44.18. The company has a market cap of $936.73 million, a price-to-earnings ratio of 88.42 and a beta of 0.72. Simulations Plus has a fifty-two week low of $32.69 and a fifty-two week high of $52.69.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Craig Hallum boosted their target price on Simulations Plus from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Oppenheimer boosted their target price on Simulations Plus from $55.00 to $65.00 and gave the stock an “outperform” 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 for the company.

Insider Activity

In other news, Director Walter S. Woltosz sold 20,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $46.71, for a total transaction of $934,200.00. Following the completion of the sale, the director now directly owns 3,540,857 shares in the company, valued at approximately $165,393,430.47. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Daniel L. Weiner sold 3,250 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 8,759 shares in the company, valued at approximately $423,147.29. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Walter S. Woltosz sold 20,000 shares of the company’s stock in a transaction 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 sale, the director now owns 3,540,857 shares of the company’s stock, valued at $165,393,430.47. The disclosure for this sale can be found here. In the last three months, insiders sold 44,500 shares of company stock worth $2,072,198. 20.90% of the stock is currently owned by company insiders.

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.