Certara (NASDAQ:CERT) Issues Earnings Results, Beats Expectations By $0.02 EPS

Certara (NASDAQ:CERT) announced its quarterly earnings results on Wednesday. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02, Briefing.com reports. The firm had revenue of $94.80 million during the quarter, compared to the consensus estimate of $95.51 million. Certara had a positive return on equity of 3.03% and a negative net margin of 21.64%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 EPS. Certara updated its FY24 guidance to $0.41-0.44 EPS and its FY 2024 guidance to 0.410-0.440 EPS.

Certara Stock Performance

CERT stock traded up $0.04 during midday trading on Friday, hitting $11.03. 1,081,810 shares of the company traded hands, compared to its average volume of 786,430. The business has a 50 day simple moving average of $11.02 and a 200-day simple moving average of $13.70. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.28. Certara has a twelve month low of $9.99 and a twelve month high of $19.87. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -22.06, a price-to-earnings-growth ratio of 4.88 and a beta of 1.51.

Insider Activity at Certara

In other news, insider Leif E. Pedersen sold 51,224 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.29, for a total value of $578,318.96. Following the sale, the insider now directly owns 99,704 shares of the company’s stock, valued at approximately $1,125,658.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Leif E. Pedersen sold 51,224 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.29, for a total transaction of $578,318.96. Following the completion of the sale, the insider now owns 99,704 shares in the company, valued at $1,125,658.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick F. Smith sold 5,409 shares of Certara stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $11.03, for a total value of $59,661.27. Following the completion of the transaction, the insider now directly owns 50,091 shares in the company, valued at approximately $552,503.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.39% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CERT shares. UBS Group upgraded Certara from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday, September 27th. Barclays lowered their price objective on shares of Certara from $14.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Robert W. Baird reduced their target price on shares of Certara from $18.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Certara presently has an average rating of “Hold” and a consensus target price of $15.92.

About Certara

Certara, Inc, together with its subsidiaries, provides software products and technology-enabled services to customers for biosimulation in drug discovery, preclinical and clinical research, regulatory submissions, and market access in the United States and internationally. It offers solutions for model-informed drug development, as well as biosimulation solution used to predict both pharmacokinetics and pharmacodynamics.