Model N, Inc. (NYSE:MODN) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of ($0.09)-($0.08) for the period, compared to the Thomson Reuters consensus estimate of ($0.10). The company issued revenue guidance of $34.6-$35.1 million, compared to the consensus revenue estimate of $35.11 million.Model N also updated its FY17 guidance to ($0.63)-($0.62) EPS.

Shares of Model N, Inc. (MODN) opened at 13.10 on Thursday. Model N, Inc. has a one year low of $6.98 and a one year high of $13.70. The company’s market capitalization is $379.06 million. The firm has a 50-day moving average of $13.06 and a 200-day moving average of $11.47.

Model N (NYSE:MODN) last released its quarterly earnings results on Tuesday, August 8th. The software maker reported ($0.23) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.04. Model N had a negative net margin of 30.85% and a negative return on equity of 49.40%. The business had revenue of $34.20 million for the quarter, compared to the consensus estimate of $34.41 million. During the same period in the prior year, the company posted ($0.16) earnings per share. Model N’s revenue was up 22.6% compared to the same quarter last year. Equities research analysts expect that Model N, Inc. will post ($0.63) EPS for the current fiscal year.

Several research firms recently commented on MODN. BidaskClub downgraded shares of Model N from a strong-buy rating to a buy rating in a research note on Wednesday. Dougherty & Co initiated coverage on shares of Model N in a research report on Thursday, June 29th. They set a buy rating and a $17.00 price objective for the company. Zacks Investment Research raised shares of Model N from a sell rating to a hold rating in a research report on Monday, July 10th. Chardan Capital initiated coverage on shares of Model N in a research report on Friday, May 19th. They set a buy rating and a $16.00 price objective for the company. Finally, Craig Hallum raised shares of Model N from a hold rating to a buy rating in a research report on Tuesday, May 9th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $12.83.

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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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