Simulations Plus (NASDAQ:SLP) Releases FY24 Earnings Guidance

Simulations Plus (NASDAQ:SLP) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.54-0.56 for the period, compared to the consensus estimate of $0.55. The company issued revenue guidance of $69-72 million, compared to the consensus revenue estimate of $70.87 million. Simulations Plus also updated its FY 2024 guidance to 0.540-0.560 EPS.

Simulations Plus Price Performance

NASDAQ SLP opened at $46.86 on Wednesday. The company has a fifty day moving average price of $47.81 and a 200-day moving average price of $44.18. The firm 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 1 year low of $32.69 and a 1 year high of $52.69.

Simulations Plus (NASDAQ:SLP) last announced its earnings results on Wednesday, April 3rd. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. The company had revenue of $18.31 million during the quarter, compared to the consensus estimate of $17.31 million. Simulations Plus had a net margin of 16.22% and a return on equity of 7.95%. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 earnings per share. On average, research analysts anticipate that Simulations Plus will post 0.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on SLP. Oppenheimer increased their target price on shares of Simulations Plus from $55.00 to $65.00 and gave the company an outperform rating in a report on Thursday, June 13th. Craig Hallum raised their price objective 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 initiated coverage on shares of Simulations Plus in a report on Friday, June 28th. They set an outperform rating for the company.

Insider Transactions at Simulations Plus

In other news, Director Daniel L. Weiner sold 750 shares of Simulations Plus stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $49.32, for a total value of $36,990.00. Following the completion of the transaction, the director now owns 7,009 shares in the company, valued at $345,683.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Daniel L. Weiner sold 750 shares of Simulations Plus stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $49.32, for a total value of $36,990.00. Following the completion of the transaction, the director now owns 7,009 shares in the company, valued at $345,683.88. The transaction was disclosed in a 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 shares were sold at an average price of $48.31, for a total transaction of $157,007.50. Following the completion of the transaction, the director now owns 8,759 shares of the company’s stock, valued at $423,147.29. The disclosure for this sale can be found here. Insiders sold 44,500 shares of company stock worth $2,072,198 over the last quarter. Corporate 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.