Model N Inc (MODN) Research Coverage Started at Chardan Capital
Stock analysts at Chardan Capital began coverage on shares of Model N Inc (NYSE:MODN) in a research note issued to investors on Friday. The brokerage set a “buy” rating and a $16.00 price target on the software maker’s stock. Chardan Capital’s price target suggests a potential upside of 29.03% from the company’s current price.
A number of other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded Model N from a “hold” rating to a “sell” rating in a research note on Friday, May 12th. Craig Hallum raised Model N from a “hold” rating to a “buy” rating in a research note on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.67.
Shares of Model N (NYSE:MODN) remained flat at $12.40 during mid-day trading on Friday. 142,876 shares of the company were exchanged. The firm has a 50-day moving average price of $11.02 and a 200 day moving average price of $9.78. The firm’s market capitalization is $357.13 million. Model N has a 12-month low of $6.97 and a 12-month high of $13.98.
Model N (NYSE:MODN) last issued its earnings results on Monday, May 8th. The software maker reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The business had revenue of $33.30 million during the quarter, compared to the consensus estimate of $33.74 million. Model N had a negative return on equity of 44.19% and a negative net margin of 29.77%. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.21) EPS. On average, equities research analysts forecast that Model N will post ($0.67) EPS for the current year.
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In other news, CFO Mark Tisdel acquired 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was purchased at an average cost of $10.55 per share, with a total value of $31,650.00. Following the purchase, the chief financial officer now directly owns 301,345 shares of the company’s stock, valued at approximately $3,179,189.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 20.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. increased its position in Model N by 7.1% in the first quarter. American International Group Inc. now owns 13,678 shares of the software maker’s stock valued at $143,000 after buying an additional 904 shares during the last quarter. Metropolitan Life Insurance Co. NY bought a new stake in shares of Model N during the first quarter worth approximately $175,000. Parametric Portfolio Associates LLC boosted its stake in shares of Model N by 32.9% in the first quarter. Parametric Portfolio Associates LLC now owns 24,618 shares of the software maker’s stock worth $257,000 after buying an additional 6,098 shares during the period. Teachers Advisors LLC boosted its stake 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 worth $384,000 after buying an additional 9,674 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Model N by 61.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 45,800 shares of the software maker’s stock worth $479,000 after buying an additional 17,500 shares during the period. 66.52% of the stock is owned by hedge funds and other institutional investors.
Model N Company Profile
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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