- Craig-Hallum has upgraded Simulations Plus Inc (NASDAQ:SLP) to Buy from Hold with a price target of $53, down from $65.
- Related: Simulations Plus Target Price Lowered At Craig-Hallum, Raymond James After Q3 Sales Miss Expectations.
- The Company’s Q4 report demonstrates that its services business has begun to recover, says analyst Matt Hewitt, who believes it is off to “a strong start for FY22.”
- He believes visibility has returned to the business. With the stock down about 50% from its high back in February, he views Simulations Plus as “once again a name we believe quality-focused investors should own.”
- Q4 sales increased 3% Y/Y to $9.8 million, surpassing the analyst estimate of $8.17 million. Software revenue increased 14% to $5.4 million.
- FY22 Guidance: Simulations Plus expects sales of $51 million – $53 million, up 10% -15% Y/Y growth.
- Software revenue is expected to be 55% – 60%, and services revenue 40% – 45% of total revenue.
- Services revenue is expected to recover sequentially throughout fiscal 2022, and any acquisitions would be incremental to the revenue growth target above.
- Price Action: SLP shares are up 9.61% at $45.56 during the market session on the last check Tuesday.
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