BidaskClub Downgrades Model N, Inc. (MODN) to Buy
Model N, Inc. (NYSE:MODN) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Thursday.
Other analysts have also recently issued research reports about the stock. Craig Hallum raised shares of Model N from a “hold” rating to a “buy” rating in a research note on Tuesday, May 9th. Zacks Investment Research upgraded shares of Model N from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Dougherty & Co started coverage on shares of Model N in a report on Thursday, June 29th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, Chardan Capital started coverage on shares of Model N in a report on Friday, May 19th. They issued a “buy” rating and a $16.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Model N currently has an average rating of “Buy” and an average target price of $13.50.
Model N (MODN) traded up 0.37% during midday trading on Thursday, reaching $13.45. The company had a trading volume of 93,401 shares. Model N has a 52 week low of $6.97 and a 52 week high of $13.75. The company’s market capitalization is $391.30 million. The firm has a 50-day moving average price of $13.14 and a 200-day moving average price of $11.84.
Model N (NYSE:MODN) last released its earnings results on Tuesday, August 8th. The software maker reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. The business had revenue of $34.20 million during the quarter, compared to analysts’ expectations of $34.41 million. Model N had a negative net margin of 30.85% and a negative return on equity of 52.59%. The company’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.16) earnings per share. Analysts expect that Model N will post ($0.62) EPS for the current fiscal year.
In other Model N news, SVP Amelia Generalis sold 3,758 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $13.30, for a total transaction of $49,981.40. Following the sale, the senior vice president now directly owns 76,734 shares in the company, valued at approximately $1,020,562.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. 20.40% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY acquired a new stake in Model N during the first quarter worth about $175,000. Redmile Group LLC increased its stake in shares of 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 in the last quarter. Schwab Charles Investment Management Inc. increased 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 in the last quarter. 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 in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Model N by 4.2% in the first quarter. Geode Capital Management LLC now owns 189,226 shares of the software maker’s stock worth $1,977,000 after buying an additional 7,707 shares in the last quarter. Institutional investors own 66.12% of the company’s stock.
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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