Model N Inc. (MODN) Receives “Hold” Rating from JMP Securities
Several other research analysts also recently issued reports on MODN. Deutsche Bank AG reiterated a buy rating and issued a $16.00 target price (down previously from $18.00) on shares of Model N in a research note on Tuesday, August 9th. Zacks Investment Research downgraded shares of Model N from a hold rating to a sell rating in a research note on Friday, August 12th. JPMorgan Chase & Co. upgraded shares of Model N from a neutral rating to an overweight rating and set a $12.00 target price on the stock in a research note on Friday, November 11th. Finally, Stifel Nicolaus upped their target price on shares of Model N from $9.00 to $11.00 and gave the stock a hold rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $14.20.
Model N (NYSE:MODN) traded down 2.30% on Wednesday, reaching $8.50. 32,072 shares of the company traded hands. The stock’s 50-day moving average is $9.89 and its 200-day moving average is $11.42. The stock’s market capitalization is $236.01 million. Model N has a 1-year low of $6.98 and a 1-year high of $13.98.
Model N (NYSE:MODN) last issued its earnings results on Monday, November 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $28.50 million for the quarter, compared to the consensus estimate of $27.73 million. Model N had a negative net margin of 30.95% and a negative return on equity of 41.74%. The business’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. Equities research analysts expect that Model N will post ($0.72) EPS for the current year.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Advisors LLC boosted its stake in shares of Model N by 7.7% in the third quarter. BlackRock Advisors LLC now owns 11,770 shares of the company’s stock worth $131,000 after buying an additional 840 shares in the last quarter. TFS Capital LLC acquired a new stake in shares of Model N during the second quarter worth approximately $150,000. American International Group Inc. boosted its stake in shares of 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. The Manufacturers Life Insurance Company acquired a new stake in shares of Model N during the third quarter worth approximately $182,000. Finally, Nationwide Fund Advisors boosted its stake in shares of 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. 66.70% of the stock is 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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