KeyCorp Has Lowered Expectations for Simulations Plus (NASDAQ:SLP) Stock Price

Simulations Plus (NASDAQ:SLP) had its price objective dropped by equities researchers at KeyCorp from $40.00 to $25.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target points to a potential upside of 92.75% from the company’s current price.

SLP has been the topic of several other research reports. JMP Securities reiterated a “market perform” rating on shares of Simulations Plus in a research note on Wednesday, June 18th. BTIG Research reduced their price objective on Simulations Plus from $41.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, July 7th. William Blair restated an “outperform” rating on shares of Simulations Plus in a research note on Tuesday, June 3rd. Wall Street Zen raised Simulations Plus from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Finally, Craig Hallum reduced their price target on Simulations Plus from $45.00 to $36.00 and set a “buy” rating for the company in a report on Friday, June 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Simulations Plus Stock Performance

NASDAQ SLP opened at $12.97 on Monday. The firm’s 50 day moving average price is $24.12 and its two-hundred day moving average price is $28.18. Simulations Plus has a twelve month low of $12.92 and a twelve month high of $44.33. The stock has a market cap of $260.83 million, a price-to-earnings ratio of -4.12 and a beta of 0.83.

Simulations Plus (NASDAQ:SLP) last issued its quarterly earnings results on Monday, July 14th. The technology company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.19. The business had revenue of $20.36 million for the quarter, compared to the consensus estimate of $22.83 million. Simulations Plus had a positive return on equity of 10.65% and a negative net margin of 78.63%. Simulations Plus’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. On average, research analysts forecast that Simulations Plus will post 1.09 EPS for the current fiscal year.

Insider Transactions at Simulations Plus

In related news, Director Walter S. Woltosz sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $33.51, for a total value of $670,200.00. Following the transaction, the director directly owned 3,344,157 shares in the company, valued at approximately $112,062,701.07. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 19.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Simulations Plus

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its position in shares of Simulations Plus by 53.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,223 shares of the technology company’s stock worth $34,000 after purchasing an additional 427 shares during the last quarter. Fifth Third Bancorp increased its position in Simulations Plus by 33.8% in the 1st quarter. Fifth Third Bancorp now owns 1,485 shares of the technology company’s stock worth $36,000 after buying an additional 375 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Simulations Plus during the fourth quarter worth approximately $39,000. Tower Research Capital LLC TRC boosted its position in shares of Simulations Plus by 42.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,575 shares of the technology company’s stock valued at $72,000 after acquiring an additional 764 shares during the period. Finally, AlphaQuest LLC grew its stake in shares of Simulations Plus by 502.9% in the fourth quarter. AlphaQuest LLC now owns 2,689 shares of the technology company’s stock worth $75,000 after acquiring an additional 2,243 shares during the last quarter. 78.08% of the stock is owned by institutional investors and hedge funds.

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.