Stifel Nicolaus Cuts Model N Inc. (MODN) Price Target to $9.00
Model N Inc. (NYSE:MODN) had its price target dropped by investment analysts at Stifel Nicolaus from $11.00 to $9.00 in a note issued to investors on Wednesday. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 3.45% from the company’s previous close.
Several other research firms also recently commented on MODN. Zacks Investment Research downgraded shares of Model N from a “hold” rating to a “sell” rating in a research note on Tuesday, September 20th. JPMorgan Chase & Co. upgraded shares of Model N from a “neutral” rating to an “overweight” rating and set a $12.00 price objective for the company in a research note on Friday, November 11th. JMP Securities reiterated a “hold” rating on shares of Model N in a research note on Tuesday, November 8th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $16.00 price objective (down from $18.00) on shares of Model N in a research note on Tuesday, August 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Model N has a consensus rating of “Hold” and an average target price of $13.80.
Model N (NYSE:MODN) opened at 8.70 on Wednesday. The stock’s market cap is $241.56 million. Model N has a 12 month low of $6.98 and a 12 month high of $13.98. The stock’s 50 day moving average price is $10.07 and its 200-day moving average price is $11.47.
Model N (NYSE:MODN) last posted its quarterly earnings data on Monday, November 7th. The company reported ($0.11) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. Model N had a negative net margin of 30.95% and a negative return on equity of 41.74%. The business earned $28.50 million during the quarter, compared to the consensus estimate of $27.73 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities analysts expect that Model N will post ($0.72) EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Advisors LLC increased its position in Model N by 1.4% in the second quarter. BlackRock Advisors LLC now owns 10,930 shares of the company’s stock worth $146,000 after buying an additional 148 shares in the last quarter. TFS Capital LLC acquired a new position in Model N during the second quarter worth about $150,000. American International Group Inc. increased its position in Model N by 4.4% in the second quarter. American International Group Inc. now owns 12,789 shares of the company’s stock worth $171,000 after buying an additional 534 shares in the last quarter. Nationwide Fund Advisors increased its position in Model N by 4.4% in the second quarter. Nationwide Fund Advisors now owns 14,517 shares of the company’s stock worth $194,000 after buying an additional 610 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Model N during the third quarter worth about $182,000. Institutional investors own 66.70% of the company’s stock.
About Model N
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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