Model N, Inc. (NYSE:MODN) has received a consensus rating of “Buy” from the eight analysts that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $14.00.
A number of equities analysts have recently issued reports on MODN shares. Zacks Investment Research cut shares of Model N from a “hold” rating to a “sell” rating in a research note on Friday, May 12th. Craig Hallum upgraded shares of Model N from a “hold” rating to a “buy” rating in a research note on Tuesday, May 9th. Chardan Capital began coverage on shares of Model N in a research report on Friday, May 19th. They set a “buy” rating and a $16.00 target price for the company. Dougherty & Co began coverage on shares of Model N in a research report on Thursday, June 29th. They set a “buy” rating and a $17.00 target price for the company. Finally, BidaskClub cut shares of Model N from a “strong-buy” rating to a “buy” rating in a research report on Wednesday.
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Model N by 2.4% in the first quarter. Vanguard Group Inc. now owns 934,866 shares of the software maker’s stock valued at $9,770,000 after buying an additional 21,555 shares in the last quarter. Trigran Investments Inc. boosted its position in Model N by 11.1% in the second quarter. Trigran Investments Inc. now owns 856,612 shares of the software maker’s stock valued at $11,393,000 after buying an additional 85,879 shares in the last quarter. Redmile Group LLC boosted its position in Model N by 1.5% in the first quarter. Redmile Group LLC now owns 822,314 shares of the software maker’s stock worth $8,593,000 after buying an additional 12,400 shares during the period. Emerald Advisers Inc. PA boosted its position in Model N by 5.7% in the second quarter. Emerald Advisers Inc. PA now owns 789,070 shares of the software maker’s stock worth $10,495,000 after buying an additional 42,890 shares during the period. Finally, State Street Corp boosted its position in Model N by 9.4% in the fourth quarter. State Street Corp now owns 350,077 shares of the software maker’s stock worth $3,100,000 after buying an additional 30,167 shares during the period. Institutional investors own 66.06% of the company’s stock.
Shares of Model N (NYSE:MODN) traded down 0.39% on Friday, hitting $12.90. The stock had a trading volume of 133,725 shares. The company’s 50 day moving average is $13.06 and its 200 day moving average is $11.48. Model N has a one year low of $6.98 and a one year high of $13.70. The stock’s market cap is $373.27 million.
Model N (NYSE:MODN) last announced its quarterly earnings data on Tuesday, August 8th. The software maker reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $34.20 million during the quarter, compared to analysts’ expectations of $34.41 million. During the same quarter in the prior year, the company posted ($0.16) EPS. The business’s revenue was up 22.6% on a year-over-year basis. Equities research analysts predict that Model N will post ($0.62) EPS 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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