Simulations Plus (NASDAQ:SLP) Price Target Cut to $35.00 by Analysts at KeyCorp

Simulations Plus (NASDAQ:SLP) had its price objective dropped by research analysts at KeyCorp from $40.00 to $35.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target would suggest a potential upside of 25.00% from the company’s previous close.

SLP has been the topic of several other research reports. Stephens assumed coverage on shares of Simulations Plus in a report on Friday, November 15th. They issued an “overweight” rating and a $39.00 price target on the stock. William Blair reissued an “outperform” rating on shares of Simulations Plus in a report on Wednesday. StockNews.com downgraded Simulations Plus from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Finally, BTIG Research lowered their price target on Simulations Plus from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.00.

Simulations Plus Price Performance

Shares of Simulations Plus stock traded down $2.39 during midday trading on Wednesday, hitting $28.00. The company had a trading volume of 1,450,888 shares, compared to its average volume of 517,188. Simulations Plus has a 1-year low of $24.00 and a 1-year high of $51.22. The business’s 50 day simple moving average is $29.80 and its two-hundred day simple moving average is $34.04. The stock has a market cap of $562.38 million, a PE ratio of 57.14 and a beta of 0.80.

Simulations Plus (NASDAQ:SLP) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Simulations Plus had a net margin of 14.15% and a return on equity of 6.16%. The business had revenue of $18.70 million during the quarter, compared to analyst estimates of $19.73 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, sell-side analysts expect that Simulations Plus will post 1.1 EPS for the current fiscal year.

Insider Activity at Simulations Plus

In related news, Director Walter S. Woltosz sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $31.76, for a total transaction of $635,200.00. Following the completion of the sale, the director now directly owns 3,442,584 shares of the company’s stock, valued at $109,336,467.84. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 19.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Simulations Plus

Several hedge funds have recently added to or reduced their stakes in SLP. First Horizon Advisors Inc. boosted its stake in Simulations Plus by 82.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 818 shares of the technology company’s stock worth $26,000 after acquiring an additional 370 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Simulations Plus by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,391 shares of the technology company’s stock valued at $311,000 after purchasing an additional 456 shares in the last quarter. Pitcairn Co. grew its position in shares of Simulations Plus by 9.1% in the 3rd quarter. Pitcairn Co. now owns 6,599 shares of the technology company’s stock valued at $211,000 after purchasing an additional 549 shares during the period. Franklin Resources Inc. increased its stake in Simulations Plus by 7.6% during the 3rd quarter. Franklin Resources Inc. now owns 10,797 shares of the technology company’s stock worth $342,000 after purchasing an additional 766 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Simulations Plus by 1.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 54,813 shares of the technology company’s stock worth $2,665,000 after buying an additional 784 shares during the period. Institutional investors and hedge funds 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.