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

Simulations Plus (NASDAQ:SLP) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.540-0.560 for the period, compared to the consensus estimate of 0.550. The company issued revenue guidance of $69.0 million-$72.0 million, compared to the consensus revenue estimate of $70.9 million. Simulations Plus also updated its FY24 guidance to $0.54-0.56 EPS.

Simulations Plus Stock Up 1.5 %

Shares of SLP opened at $46.86 on Wednesday. The stock 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 12 month low of $32.69 and a 12 month high of $52.69. The company has a 50-day moving average price of $47.81 and a two-hundred day moving average price of $44.18.

Simulations Plus (NASDAQ:SLP) last announced its quarterly earnings results on Wednesday, April 3rd. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. Simulations Plus had a net margin of 16.22% and a return on equity of 7.95%. The firm had revenue of $18.31 million during the quarter, compared to analysts’ expectations of $17.31 million. During the same quarter last year, the company earned $0.20 earnings per share. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. Equities research analysts expect that Simulations Plus will post 0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SLP. Craig Hallum lifted their target price on shares of Simulations Plus from $51.00 to $56.00 and gave the company a buy rating in a research note on Thursday, June 13th. Oppenheimer boosted their price objective 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. Finally, William Blair started coverage on shares of Simulations Plus in a research report 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 business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $45.95, for a total value of $919,000.00. Following the completion of the transaction, the director now owns 3,580,857 shares of the company’s stock, valued at approximately $164,540,379.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Walter S. Woltosz sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $45.95, for a total value of $919,000.00. Following the completion of the transaction, the director now owns 3,580,857 shares of the company’s stock, valued at approximately $164,540,379.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel L. Weiner sold 750 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $49.32, for a total transaction of $36,990.00. Following the completion of the transaction, the director now directly owns 7,009 shares of the company’s stock, valued at approximately $345,683.88. The disclosure for this sale can be found here. Insiders sold 44,500 shares of company stock valued at $2,072,198 in the last quarter. Company insiders own 20.90% 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.