Model N Inc. (MODN) Upgraded to Overweight at JPMorgan Chase & Co.
Model N Inc. (NYSE:MODN) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Friday.
Several other brokerages have also recently weighed in on MODN. Zacks Investment Research cut shares of Model N from a “hold” rating to a “sell” rating in a research report on Tuesday, September 20th. JMP Securities reissued a “hold” rating on shares of Model N in a research report on Tuesday. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $16.00 target price (down previously from $18.00) on shares of Model N in a research report on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $16.00.
Model N (NYSE:MODN) opened at 7.45 on Friday. Model N has a 52-week low of $6.97 and a 52-week high of $13.98. The firm’s 50-day moving average is $10.14 and its 200-day moving average is $11.48. The stock’s market cap is $206.12 million.
Model N (NYSE:MODN) last announced its quarterly earnings results on Monday, November 7th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The firm had revenue of $28.50 million for the quarter, compared to analysts’ expectations of $27.73 million. Model N had a negative net margin of 30.95% and a negative return on equity of 41.74%. The company’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.07) EPS. Equities research analysts predict that Model N will post ($0.66) earnings per share for the current year.
In other Model N news, SVP Eric Carrasquilla sold 4,031 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $10.61, for a total value of $42,768.91. Following the transaction, the senior vice president now owns 59,691 shares of the company’s stock, valued at $633,321.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 20.90% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of MODN. Thomson Horstmann & Bryant Inc. purchased a new stake in Model N during the second quarter worth $821,000. Emerald Advisers Inc. PA raised its stake in Model N by 1.1% in the second quarter. Emerald Advisers Inc. PA now owns 729,137 shares of the company’s stock worth $9,734,000 after buying an additional 7,730 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Model N by 10.9% in the second quarter. Bank of New York Mellon Corp now owns 85,865 shares of the company’s stock worth $1,147,000 after buying an additional 8,421 shares during the last quarter. California State Teachers Retirement System raised its stake in Model N by 5.0% in the second quarter. California State Teachers Retirement System now owns 46,584 shares of the company’s stock worth $622,000 after buying an additional 2,218 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in Model N during the second quarter worth $5,680,000. 67.24% of the stock is currently owned by institutional investors and hedge funds.
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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