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

Simulations Plus (NASDAQ:SLP - Get Free Report) had its price objective dropped by KeyCorp from $40.00 to $35.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the technology company's stock. KeyCorp's target price would indicate a potential upside of 24.07% from the stock's current price.

SLP has been the subject of several other research reports. BTIG Research cut their price target 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. Stephens assumed coverage on shares of Simulations Plus in a research note on Friday, November 15th. They issued an "overweight" rating and a $39.00 target price for the company. William Blair reaffirmed an "outperform" rating on shares of Simulations Plus in a report on Wednesday. Finally, StockNews.com cut Simulations Plus from a "hold" rating to a "sell" rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $49.00.

Simulations Plus Stock Performance

Shares of SLP stock traded down $2.18 during mid-day trading on Wednesday, hitting $28.21. 1,535,907 shares of the stock were exchanged, compared to its average volume of 563,121. Simulations Plus has a 12-month low of $24.00 and a 12-month high of $51.22. The stock has a market capitalization of $566.60 million, a price-to-earnings ratio of 57.57 and a beta of 0.80. The stock's fifty day simple moving average is $29.80 and its two-hundred day simple moving average is $34.04.

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

Insider Buying and Selling at Simulations Plus

In related news, Director Walter S. Woltosz sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was 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 of the company's stock, valued at approximately $109,336,467.84. This trade represents a 0.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 19.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings in shares of Simulations Plus by 82.6% during the third quarter. First Horizon Advisors Inc. now owns 818 shares of the technology company's stock valued at $26,000 after purchasing an additional 370 shares during the period. nVerses Capital LLC grew its position in Simulations Plus by 1,100.0% in the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the technology company's stock valued at $38,000 after buying an additional 1,100 shares in the last quarter. Quantbot Technologies LP acquired a new position in Simulations Plus during the 3rd quarter valued at about $59,000. US Bancorp DE raised its position in shares of Simulations Plus by 37.0% during the 3rd quarter. US Bancorp DE now owns 4,974 shares of the technology company's stock worth $159,000 after buying an additional 1,343 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Simulations Plus in the 2nd quarter worth approximately $206,000. 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.