Simulations Plus price target lowered to $50 from $56 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Simulations Plus to $50 from $56 and keeps a Buy rating on the shares. The firm notes FY23 was a good year all things considered, but it suspects Simulations Plus’ stock will get hit as Q4 revenues came up short of expectations and FY24 guidance also was below expectations.