$38.32 Million in Sales Expected for Model N (MODN) This Quarter

Equities analysts expect that Model N (NYSE:MODN) will report $38.32 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Model N’s earnings, with the lowest sales estimate coming in at $38.29 million and the highest estimate coming in at $38.35 million. Model N posted sales of $33.26 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.2%. The company is expected to announce its next quarterly earnings report after the market closes on Tuesday, May 8th.

On average, analysts expect that Model N will report full year sales of $149.96 million for the current fiscal year, with estimates ranging from $149.60 million to $150.43 million. For the next financial year, analysts expect that the company will report sales of $163.76 million per share, with estimates ranging from $151.07 million to $171.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Model N.

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Model N (NYSE:MODN) last issued its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.09. The firm had revenue of $39.10 million for the quarter, compared to analysts’ expectations of $37.14 million. Model N had a negative return on equity of 55.03% and a negative net margin of 26.17%. The firm’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.15) EPS.

Several equities analysts recently issued reports on MODN shares. JMP Securities upgraded Model N from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 7th. Zacks Investment Research upgraded Model N from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Friday, January 5th. JPMorgan Chase set a $20.00 price target on Model N and gave the company a “hold” rating in a research report on Wednesday, March 14th. They noted that the move was a valuation call. Finally, ValuEngine upgraded Model N from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $19.25.

In other Model N news, SVP Neeraj Gokhale sold 1,628 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $16.94, for a total transaction of $27,578.32. Following the transaction, the senior vice president now owns 81,389 shares in the company, valued at approximately $1,378,729.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mark Albert Anderson sold 10,153 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $16.65, for a total value of $169,047.45. The disclosure for this sale can be found here. Insiders own 18.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Model N by 1.7% during the 4th quarter. BlackRock Inc. now owns 1,153,586 shares of the software maker’s stock worth $18,169,000 after purchasing an additional 18,754 shares during the period. Renaissance Technologies LLC increased its position in Model N by 62.1% during the 4th quarter. Renaissance Technologies LLC now owns 911,700 shares of the software maker’s stock worth $14,359,000 after purchasing an additional 349,300 shares during the period. Redmile Group LLC increased its position in Model N by 1.8% during the 4th quarter. Redmile Group LLC now owns 853,714 shares of the software maker’s stock worth $13,446,000 after purchasing an additional 14,800 shares during the period. Millennium Management LLC increased its position in Model N by 53.8% during the 4th quarter. Millennium Management LLC now owns 703,638 shares of the software maker’s stock worth $11,082,000 after purchasing an additional 246,093 shares during the period. Finally, Lyon Street Capital LLC increased its position in Model N by 15.5% during the 4th quarter. Lyon Street Capital LLC now owns 666,277 shares of the software maker’s stock worth $10,494,000 after purchasing an additional 89,492 shares during the period. Institutional investors own 62.71% of the company’s stock.

MODN stock remained flat at $$17.65 during trading on Friday. The company had a trading volume of 113,145 shares, compared to its average volume of 238,428. The firm has a market cap of $518.90, a PE ratio of -21.27 and a beta of 0.80. Model N has a 1 year low of $10.00 and a 1 year high of $18.90. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.15 and a quick ratio of 1.15.

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About Model N

Model N, Inc provides revenue management cloud solutions for the life sciences, technology, and manufacturing companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, Revenue Cloud for High Tech, and Revenue Cloud. It develops software applications, such as managed care and government pricing for life science companies; and channel incentives for technology companies.

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