Model N Inc. (MODN) Receives $14.00 Average Target Price from Brokerages
Model N Inc. (NYSE:MODN) has received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the firm. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $14.00.
MODN has been the topic of a number of recent analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $16.00 price target (down previously from $18.00) on shares of Model N in a report on Tuesday, August 9th. JMP Securities reaffirmed a “hold” rating on shares of Model N in a report on Wednesday. Stifel Nicolaus lifted their price target on Model N from $9.00 to $11.00 and gave the company a “hold” rating in a report on Wednesday. Zacks Investment Research raised Model N from a “sell” rating to a “hold” rating in a report on Wednesday, October 12th. Finally, JPMorgan Chase & Co. raised Model N from a “neutral” rating to an “overweight” rating and set a $12.00 price target on the stock in a report on Friday, November 11th.
Shares of Model N (NYSE:MODN) opened at 8.90 on Wednesday. The firm’s market cap is $247.12 million. Model N has a one year low of $6.98 and a one year high of $13.98. The firm’s 50-day moving average price is $9.83 and its 200-day moving average price is $11.40.
Model N (NYSE:MODN) last released its quarterly earnings results on Monday, November 7th. The company reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.02. The company had revenue of $28.50 million for the quarter, compared to analysts’ expectations of $27.73 million. Model N had a negative return on equity of 41.74% and a negative net margin of 30.95%. The business’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 company posted ($0.07) earnings per share. Equities research analysts expect that Model N will post ($0.72) earnings per share for the current fiscal year.
In related news, SVP Christopher Larsen sold 8,523 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $8.53, for a total transaction of $72,701.19. Following the sale, the senior vice president now owns 160,995 shares of the company’s stock, valued at $1,373,287.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 20.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Advisors LLC boosted 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 valued at $146,000 after buying an additional 148 shares in the last quarter. TFS Capital LLC bought a new position in Model N during the second quarter valued at about $150,000. American International Group Inc. boosted 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 valued at $171,000 after buying an additional 534 shares in the last quarter. Nationwide Fund Advisors boosted 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 valued at $194,000 after buying an additional 610 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Model N during the third quarter valued at about $182,000. 66.70% of the stock is currently owned by 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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