Model N (NYSE:MODN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, January 5th. The brokerage presently has a $18.00 target price on the software maker’s stock. Zacks Investment Research‘s price objective points to a potential upside of 13.21% from the company’s current price.
According to Zacks, “Model N is a provider of revenue management solutions for life sciences and technology companies. The successful integration of Revitas boosted Model N’s performance as well as its customer base. Management is also optimistic about the steady progress in the company’s transformation to a 100% Software-as-a-Service (SaaS) based model. Model N has outperformed the industry in the last one year. The Revenue Cloud offering for med-tech, pharma and high tech companies is also gaining traction, driving expansion in customer base. Moreover, the transition to cloud-based applications will drive recurring revenue growth in the long term. However, the company is facing stiff competition as evident from inconsistent revenue growth.”
Other analysts also recently issued research reports about the stock. BidaskClub raised shares of Model N from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 30th. Raymond James Financial reaffirmed a “hold” rating on shares of Model N in a research note on Monday, December 4th. JPMorgan Chase & Co. downgraded shares of Model N from an “overweight” rating to a “neutral” rating and set a $18.00 price target for the company. in a research note on Tuesday, December 12th. Finally, Dougherty & Co lifted their price target on shares of Model N from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Model N has an average rating of “Hold” and an average target price of $18.00.
Model N (NYSE MODN) traded up $0.05 on Friday, reaching $15.90. The company had a trading volume of 94,152 shares, compared to its average volume of 136,705. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $467.16, a price-to-earnings ratio of -11.52 and a beta of 1.17. Model N has a 12 month low of $8.45 and a 12 month high of $16.75.
Model N (NYSE:MODN) last announced its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.03. The business had revenue of $35.61 million during the quarter, compared to the consensus estimate of $34.86 million. Model N had a negative net margin of 30.15% and a negative return on equity of 55.26%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.28) earnings per share. analysts predict that Model N will post -0.64 earnings per share for the current year.
In other Model N news, Director Alan S. Henricks sold 4,730 shares of Model N stock in a transaction on Friday, November 10th. The shares were sold at an average price of $14.59, for a total value of $69,010.70. Following the transaction, the director now directly owns 40,134 shares of the company’s stock, valued at $585,555.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David Barter sold 3,596 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $14.65, for a total transaction of $52,681.40. Following the sale, the chief financial officer now directly owns 111,676 shares in the company, valued at $1,636,053.40. The disclosure for this sale can be found here. Insiders sold 21,801 shares of company stock valued at $317,080 in the last three months. 18.90% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in MODN. SQN Investors LP grew its holdings in shares of Model N by 28.8% during the second quarter. SQN Investors LP now owns 2,805,028 shares of the software maker’s stock valued at $37,307,000 after buying an additional 627,700 shares during the last quarter. Lyon Street Capital LLC lifted its position in Model N by 113.4% during the third quarter. Lyon Street Capital LLC now owns 576,785 shares of the software maker’s stock valued at $8,623,000 after purchasing an additional 306,522 shares during the period. Trigran Investments Inc. lifted its position in Model N by 14.9% during the third quarter. Trigran Investments Inc. now owns 984,594 shares of the software maker’s stock valued at $14,720,000 after purchasing an additional 127,982 shares during the period. Allianz Asset Management GmbH lifted its position in Model N by 33.7% during the third quarter. Allianz Asset Management GmbH now owns 318,322 shares of the software maker’s stock valued at $4,759,000 after purchasing an additional 80,315 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Model N during the second quarter valued at $670,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.
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About Model N
Model N, Inc is a provider of revenue management solutions for life science and technology companies. The Company’s solutions enable its customers to maximize revenues and reduce revenue compliance risk by transforming their revenue life cycle from a series of tactical, disjointed operations into a strategic end-to-end process.
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