Brokerages Set Model N Inc (MODN) PT at $12.00
Model N Inc (NYSE:MODN) has been given an average rating of “Buy” by the six ratings firms that are covering the stock. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $12.00.
Separately, Zacks Investment Research downgraded shares of Model N from a “hold” rating to a “sell” rating in a research note on Thursday, December 29th.
Shares of Model N (NYSE:MODN) remained flat at $10.30 during trading on Tuesday. 260,729 shares of the stock were exchanged. The stock’s 50-day moving average is $10.25 and its 200 day moving average is $9.60. Model N has a one year low of $6.97 and a one year high of $13.98. The firm’s market capitalization is $290.18 million.
Model N (NYSE:MODN) last issued its earnings results on Monday, February 6th. The software maker reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.02. The firm had revenue of $28.10 million for the quarter, compared to the consensus estimate of $27.32 million. Model N had a negative net margin of 29.77% and a negative return on equity of 44.19%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. Equities analysts predict that Model N will post ($0.70) EPS for the current year.
In related news, CEO Zack Rinat acquired 2,905 shares of the stock in a transaction that occurred on Friday, February 10th. The shares were bought at an average price of $10.09 per share, for a total transaction of $29,311.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Russell Mellott acquired 4,000 shares of the stock in a transaction that occurred on Tuesday, February 14th. The shares were bought at an average price of $10.35 per share, for a total transaction of $41,400.00. Following the transaction, the senior vice president now owns 4,000 shares of the company’s stock, valued at $41,400. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 9,905 shares of company stock worth $102,361. 20.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Discovery Group I LLC bought a new position in shares of Model N during the fourth quarter worth $7,279,000. Russell Investments Group Ltd. bought a new position in shares of Model N during the fourth quarter worth $3,057,000. Tamarack Advisers LP increased its position in shares of Model N by 1,575.0% in the third quarter. Tamarack Advisers LP now owns 335,000 shares of the software maker’s stock worth $3,635,000 after buying an additional 315,000 shares during the period. Royce & Associates LP increased its position in shares of Model N by 59.9% in the fourth quarter. Royce & Associates LP now owns 467,080 shares of the software maker’s stock worth $4,134,000 after buying an additional 175,000 shares during the period. Finally, Pier 88 Investment Partners LLC bought a new position in shares of Model N during the fourth quarter worth $770,000. Institutional investors own 66.52% of the company’s stock.
About Model N
Model N, Inc is a provider of revenue management solutions for life science and technology companies. The Company’s solutions enable its customers to maximize revenues and reduce revenue compliance risk by transforming their revenue life cycle from a series of tactical, disjointed operations into a strategic end-to-end process.
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