Model N Inc. (MODN) Lifted to Hold at Zacks Investment Research
Model N Inc. (NYSE:MODN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Model N, Inc. provides revenue management solutions for the life science and technology industries. It develops applications, such as managed care and government pricing for life science companies; and channel incentives based on design wins for technology companies. In addition, it offers implementation, managed, strategic, and customer support services. Model N, Inc. is headquartered in Redwood Shores, California. “
A number of other equities analysts have also recently weighed in on the company. Deutsche Bank AG reiterated a “buy” rating and set a $16.00 price target (down from $18.00) on shares of Model N in a report on Tuesday, August 9th. JMP Securities cut Model N from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 9th.
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Model N (NYSE:MODN) opened at 10.15 on Wednesday. Model N has a 1-year low of $9.19 and a 1-year high of $13.98. The stock’s market capitalization is $280.82 million. The firm’s 50-day moving average is $10.68 and its 200 day moving average is $11.64.
Model N (NYSE:MODN) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.04. The business earned $27.90 million during the quarter, compared to analysts’ expectations of $27.34 million. Model N had a negative return on equity of 37.01% and a negative net margin of 29.19%. The company’s revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.08) EPS. Equities analysts anticipate that Model N will post ($0.66) EPS for the current fiscal year.
In related news, SVP Eric Carrasquilla sold 4,031 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $10.61, for a total transaction of $42,768.91. Following the completion of the transaction, the senior vice president now directly owns 59,691 shares in the company, valued at approximately $633,321.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 20.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. RGM Capital LLC raised its stake in Model N by 3.4% in the first quarter. RGM Capital LLC now owns 2,401,177 shares of the company’s stock worth $25,861,000 after buying an additional 78,726 shares in the last quarter. Redmile Group LLC raised its stake in Model N by 0.8% in the second quarter. Redmile Group LLC now owns 1,900,659 shares of the company’s stock worth $25,374,000 after buying an additional 15,300 shares in the last quarter. Penn Capital Management Co. Inc. raised its stake in Model N by 0.9% in the second quarter. Penn Capital Management Co. Inc. now owns 1,511,395 shares of the company’s stock worth $20,187,000 after buying an additional 13,151 shares in the last quarter. Vanguard Group Inc. raised its stake in Model N by 1.2% in the second quarter. Vanguard Group Inc. now owns 843,969 shares of the company’s stock worth $11,267,000 after buying an additional 10,276 shares in the last quarter. Finally, Emerald Advisers Inc. PA raised its stake in Model N by 1.1% in the second quarter. Emerald Advisers Inc. PA now owns 729,137 shares of the company’s stock worth $9,734,000 after buying an additional 7,730 shares in the last quarter. Institutional investors own 67.47% of the company’s stock.
Model N Company Profile
Model N, Inc is a provider of revenue management cloud solutions for life science and technology companies. The Company’s solutions enable its customers to manage revenue compliance risk. The Company’s solutions include Revenue Enterprise Cloud, Revenue Intelligence Cloud and Revvy. The Company provides solutions that span the organizational and operational boundaries of functions, such as sales, marketing and finance, and serve as a system of record for revenue management processes, including pricing, contracts, rebates, incentives and regulatory compliance.
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