Wall Street brokerages expect Model N Inc (NYSE:MODN) to report sales of $37.31 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Model N’s earnings, with the lowest sales estimate coming in at $37.00 million and the highest estimate coming in at $37.80 million. Model N posted sales of $28.06 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 33%. The firm is expected to issue its next earnings results after the market closes on Tuesday, February 6th.
According to Zacks, analysts expect that Model N will report full-year sales of $37.31 million for the current fiscal year, with estimates ranging from $148.79 million to $173.90 million. For the next year, analysts forecast that the business will post sales of $167.17 million per share, with estimates ranging from $164.92 million to $170.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Model N.
Model N (NYSE:MODN) last posted its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. The firm had revenue of $35.61 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.28) earnings per share.
MODN has been the topic of several recent analyst reports. BidaskClub lowered shares of Model N from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 10th. Zacks Investment Research lowered shares of Model N from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Raymond James Financial restated a “hold” rating on shares of Model N in a research report on Monday, December 4th. JPMorgan Chase & Co. lowered shares of Model N from an “overweight” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research report on Tuesday, December 12th. Finally, Dougherty & Co upped their target price on shares of Model N from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.00.
In other news, Director Alan S. Henricks sold 4,730 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 40,134 shares in the company, valued at $585,555.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan S. Henricks sold 13,475 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $14.50, for a total transaction of $195,387.50. Following the completion of the sale, the director now owns 40,134 shares in the company, valued at $581,943. The disclosure for this sale can be found here. Corporate insiders own 18.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Trigran Investments Inc. grew its position in shares of Model N by 14.9% in 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 last quarter. Vanguard Group Inc. boosted its position in Model N by 3.0% during the second quarter. Vanguard Group Inc. now owns 963,235 shares of the software maker’s stock worth $12,811,000 after acquiring an additional 28,369 shares during the last quarter. Redmile Group LLC boosted its position in Model N by 4.4% during the second quarter. Redmile Group LLC now owns 858,314 shares of the software maker’s stock worth $11,416,000 after acquiring an additional 36,000 shares during the last quarter. Lyon Street Capital LLC boosted 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 worth $8,623,000 after acquiring an additional 306,522 shares during the last quarter. Finally, State Street Corp boosted its position in Model N by 4.7% during the second quarter. State Street Corp now owns 372,302 shares of the software maker’s stock worth $4,953,000 after acquiring an additional 16,720 shares during the last quarter. Institutional investors and hedge funds own 65.55% of the company’s stock.
Model N (MODN) opened at $14.65 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.27. Model N has a 1-year low of $8.95 and a 1-year high of $16.75. The stock has a market cap of $431.79, a PE ratio of -10.62 and a beta of 1.06.
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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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