Simulations Plus (NASDAQ:SLP) Price Target Raised to $37.00

Simulations Plus (NASDAQ:SLP) had its price target hoisted by equities researchers at KeyCorp from $35.00 to $37.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective would indicate a potential upside of 9.34% from the stock’s current price.

Several other research analysts also recently commented on SLP. Stephens started coverage on Simulations Plus in a report on Friday, November 15th. They issued an “overweight” rating and a $39.00 price objective on the stock. BTIG Research dropped their price objective on Simulations Plus from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. StockNews.com downgraded shares of Simulations Plus from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Finally, William Blair reissued an “outperform” rating on shares of Simulations Plus in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Simulations Plus presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.40.

Simulations Plus Stock Up 1.0 %

Shares of Simulations Plus stock traded up $0.34 during trading on Friday, hitting $33.84. 68,365 shares of the stock traded hands, compared to its average volume of 352,778. The stock has a market cap of $679.91 million, a price-to-earnings ratio of 84.45 and a beta of 0.80. Simulations Plus has a 52 week low of $24.00 and a 52 week high of $51.22. The firm’s fifty day moving average is $29.77 and its 200-day moving average is $32.93.

Simulations Plus (NASDAQ:SLP) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $18.70 million during the quarter, compared to analyst estimates of $19.73 million. Simulations Plus had a return on equity of 6.84% and a net margin of 10.97%. Simulations Plus’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, analysts forecast that Simulations Plus will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Simulations Plus

In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $31.76, for a total value of $635,200.00. Following the sale, the director now owns 3,442,584 shares in the company, valued at approximately $109,336,467.84. This represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 19.40% of the company’s stock.

Hedge Funds Weigh In On Simulations Plus

A number of hedge funds have recently bought and sold shares of the company. State Street Corp lifted its position in Simulations Plus by 4.7% in the 3rd quarter. State Street Corp now owns 640,303 shares of the technology company’s stock valued at $20,503,000 after acquiring an additional 28,953 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Simulations Plus by 4.4% in the third quarter. Geode Capital Management LLC now owns 448,618 shares of the technology company’s stock worth $14,367,000 after purchasing an additional 18,924 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Simulations Plus by 10.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 414,005 shares of the technology company’s stock worth $20,128,000 after purchasing an additional 37,992 shares during the period. Tributary Capital Management LLC lifted its holdings in shares of Simulations Plus by 21.7% during the 4th quarter. Tributary Capital Management LLC now owns 396,093 shares of the technology company’s stock valued at $11,047,000 after buying an additional 70,526 shares during the period. Finally, Royce & Associates LP boosted its position in Simulations Plus by 28.8% in the third quarter. Royce & Associates LP now owns 237,416 shares of the technology company’s stock worth $7,602,000 after purchasing an additional 53,092 shares during the last quarter. 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.