Analysts Set Model N, Inc. (MODN) Target Price at $14.00
Shares of Model N, Inc. (NYSE:MODN) have been given a consensus rating of “Buy” by the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $14.00.
Several brokerages have weighed in on MODN. BidaskClub lowered shares of Model N from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research downgraded shares of Model N from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Dougherty & Co assumed coverage on shares of Model N in a report on Thursday, June 29th. They issued a “buy” rating and a $17.00 price target on the stock. Chardan Capital assumed coverage on shares of Model N in a report on Friday, May 19th. They issued a “buy” rating and a $16.00 price target on the stock. Finally, Craig Hallum raised shares of Model N from a “hold” rating to a “buy” rating in a report on Tuesday, May 9th.
In other Model N news, SVP Amelia Generalis sold 3,758 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $13.30, for a total value of $49,981.40. Following the sale, the senior vice president now owns 76,734 shares of the company’s stock, valued at $1,020,562.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.40% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in MODN. Teachers Advisors LLC increased its position in shares of Model N by 28.7% in the fourth quarter. Teachers Advisors LLC now owns 43,373 shares of the software maker’s stock valued at $384,000 after buying an additional 9,674 shares during the last quarter. State Street Corp increased its position in shares of Model N by 9.4% in the fourth quarter. State Street Corp now owns 350,077 shares of the software maker’s stock valued at $3,100,000 after buying an additional 30,167 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of Model N during the first quarter valued at about $568,000. Emerald Advisers Inc. PA increased its position in shares of Model N by 0.6% in the first quarter. Emerald Advisers Inc. PA now owns 746,180 shares of the software maker’s stock valued at $7,798,000 after buying an additional 4,090 shares during the last quarter. Finally, UBS Group AG increased its position in shares of Model N by 5,688.4% in the first quarter. UBS Group AG now owns 230,494 shares of the software maker’s stock valued at $2,409,000 after buying an additional 226,512 shares during the last quarter. 65.87% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Model N (NYSE MODN) traded up 0.37% during trading on Wednesday, hitting $13.50. The stock had a trading volume of 88,709 shares. The firm has a 50 day moving average price of $13.14 and a 200 day moving average price of $11.84. The firm’s market cap is $392.76 million. Model N has a 12-month low of $6.97 and a 12-month high of $13.75.
Model N (NYSE:MODN) last issued its earnings results on Tuesday, August 8th. The software maker reported ($0.23) earnings per share for the quarter, topping the 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 52.59%. The company had revenue of $34.20 million for the quarter, compared to analyst estimates of $34.41 million. During the same period in the prior year, the business posted ($0.16) earnings per share. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, equities analysts expect that Model N will post ($0.62) earnings per share for the current fiscal year.
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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