Model N Inc (NYSE:MODN) has been assigned an average rating of “Buy” from the ten brokerages that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $22.60.
Several research firms have commented on MODN. JPMorgan Chase & Co. increased their price target on shares of Model N to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Model N from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. JMP Securities reissued a “buy” rating and set a $25.00 price target on shares of Model N in a research report on Sunday, September 2nd. ValuEngine lowered shares of Model N from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, Oppenheimer began coverage on shares of Model N in a research report on Friday, October 19th. They set an “outperform” rating and a $23.00 price target for the company.
Shares of Model N stock opened at $13.62 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.37. Model N has a 1 year low of $12.60 and a 1 year high of $20.33.
Model N (NYSE:MODN) last issued its earnings results on Tuesday, November 6th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.05. Model N had a negative net margin of 18.24% and a negative return on equity of 54.37%. The company had revenue of $36.70 million for the quarter, compared to analysts’ expectations of $35.49 million. During the same period in the prior year, the business earned ($0.06) EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. Research analysts expect that Model N will post -0.36 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC raised its position in shares of Model N by 55.9% in the 3rd quarter. MetLife Investment Advisors LLC now owns 18,053 shares of the software maker’s stock valued at $286,000 after purchasing an additional 6,470 shares during the last quarter. Macquarie Group Ltd. purchased a new position in shares of Model N in the 2nd quarter valued at approximately $361,000. Trexquant Investment LP purchased a new position in shares of Model N in the 3rd quarter valued at approximately $351,000. Engineers Gate Manager LP raised its position in shares of Model N by 31.1% in the 2nd quarter. Engineers Gate Manager LP now owns 22,223 shares of the software maker’s stock valued at $413,000 after purchasing an additional 5,276 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Model N by 20.6% in the 2nd quarter. Rhumbline Advisers now owns 24,854 shares of the software maker’s stock valued at $462,000 after purchasing an additional 4,238 shares during the last quarter. 79.50% of the stock is owned by institutional investors and hedge funds.
About Model N
Model N, Inc provides revenue management cloud solutions for the life sciences, technology, and manufacturing companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, Revenue Cloud for High Tech, and Revenue Cloud. It develops software applications, such as managed care and government pricing for life science companies; and channel incentives for technology companies.
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