Wall Street brokerages forecast that Model N, Inc. (NYSE:MODN) will announce $34.96 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Model N’s earnings. The lowest sales estimate is $33.63 million and the highest is $35.70 million. Model N reported sales of $27.92 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 25.2%. The company is expected to issue its next quarterly earnings report on Monday, August 14th.

According to Zacks, analysts expect that Model N will report full-year sales of $34.96 million for the current fiscal year, with estimates ranging from $129.75 million to $134.97 million. For the next fiscal year, analysts expect that the business will post sales of $148.67 million per share, with estimates ranging from $143.33 million to $154.56 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Model N.

Model N (NYSE:MODN) last announced its quarterly earnings results on Monday, May 8th. The software maker reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The firm had revenue of $33.30 million during the quarter, compared to analysts’ expectations of $33.74 million. Model N had a negative net margin of 30.99% and a negative return on equity of 50.03%. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.21) earnings per share.

A number of analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Model N from a “hold” rating to a “sell” rating in a report on Friday, May 12th. 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 objective for the company. Finally, Craig Hallum raised shares of Model N from a “hold” rating to a “buy” rating in a report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Model N presently has an average rating of “Hold” and an average price target of $12.67.

Shares of Model N (MODN) traded up 0.954% on Thursday, reaching $13.225. 16,196 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $12.56 and its 200 day moving average price is $10.44. The company’s market cap is $380.89 million. Model N has a 12 month low of $6.98 and a 12 month high of $13.87.

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in shares of Model N during the fourth quarter worth $3,057,000. UBS Group AG increased its stake 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 worth $2,409,000 after buying an additional 226,512 shares during the period. Royce & Associates LP increased its stake in shares of Model N by 59.9% in the fourth quarter. Royce & Associates LP now owns 467,080 shares of the software maker’s stock worth $4,134,000 after buying an additional 175,000 shares during the period. FIL Ltd purchased a new stake in shares of Model N during the first quarter worth $1,195,000. Finally, Western Standard LLC purchased a new stake in shares of Model N during the first quarter worth $980,000. 66.85% of the stock is owned by institutional investors.

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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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