JMP Securities Reiterates “Hold” Rating for Model N Inc. (MODN)
Model N Inc. (NYSE:MODN)‘s stock had its “hold” rating restated by analysts at JMP Securities in a research note issued on Tuesday.
A number of other research analysts also recently commented on MODN. Zacks Investment Research raised Model N from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Tuesday, July 12th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $16.00 price target (down previously from $18.00) on shares of Model N in a research note on Tuesday, August 9th.
Model N (NYSE:MODN) opened at 7.35 on Tuesday. The company’s market cap is $203.35 million. The stock has a 50 day moving average of $10.23 and a 200 day moving average of $11.51. Model N has a 52 week low of $7.25 and a 52 week high of $13.98.
Model N (NYSE:MODN) last posted its quarterly earnings results on Monday, November 7th. The company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.02. The business earned $28.50 million during the quarter, compared to the consensus estimate of $27.73 million. Model N had a negative return on equity of 41.74% and a negative net margin of 30.95%. Model N’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. Equities research analysts predict that Model N will post ($0.66) earnings per share for the current fiscal year.
In other Model N news, SVP Eric Carrasquilla sold 4,031 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $10.61, for a total transaction of $42,768.91. Following the completion of the transaction, the senior vice president now owns 59,691 shares of the company’s stock, valued at $633,321.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 20.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of MODN. BlackRock Advisors LLC increased its position in shares of Model N by 1.4% in the second quarter. BlackRock Advisors LLC now owns 10,930 shares of the company’s stock valued at $146,000 after buying an additional 148 shares during the last quarter. TFS Capital LLC purchased a new stake in Model N during the second quarter valued at $150,000. American International Group Inc. boosted its stake in Model N by 4.4% in the second quarter. American International Group Inc. now owns 12,789 shares of the company’s stock valued at $171,000 after buying an additional 534 shares during the period. Nationwide Fund Advisors boosted its stake in Model N by 4.4% in the second quarter. Nationwide Fund Advisors now owns 14,517 shares of the company’s stock valued at $194,000 after buying an additional 610 shares during the period. Finally, Trellus Management Company LLC purchased a new stake in Model N during the third quarter valued at $199,000. 67.24% of the stock is owned by hedge funds and other institutional investors.
Model N Company Profile
Model N, Inc is a provider of revenue management cloud solutions for life science and technology companies. The Company’s solutions enable its customers to manage revenue compliance risk. The Company’s solutions include Revenue Enterprise Cloud, Revenue Intelligence Cloud and Revvy. The Company provides solutions that span the organizational and operational boundaries of functions, such as sales, marketing and finance, and serve as a system of record for revenue management processes, including pricing, contracts, rebates, incentives and regulatory compliance.
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