Model N, Inc. (MODN) Downgraded to “Hold” at Zacks Investment Research
Model N, Inc. (NYSE:MODN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Model N is a leading provider of revenue management solutions primarily to life sciences and high technology companies. The company continues to win deals in these segments that will drive top-line growth. Moreover, the transition to cloud-based applications will drive recurring revenue growth in the long term. Notably, estimates have been stable ahead of the company's fourth-quarter results. The company has positive record of earnings surprises in the recent quarters. We note that the company has outperformed the industry on a year-to-date basis. However, lack of international customers, mounting operating loss, continuing cash burn and stretched valuation are major headwinds.”
A number of other research firms also recently commented on MODN. ValuEngine upgraded Model N from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub upgraded Model N from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. Finally, Dougherty & Co initiated coverage on Model N in a research report on Thursday, June 29th. They issued a “buy” rating and a $17.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Model N currently has an average rating of “Buy” and an average price target of $13.67.
Model N (NYSE:MODN) traded down 0.34% on Tuesday, reaching $14.45. The company had a trading volume of 47,818 shares. Model N has a 1-year low of $6.97 and a 1-year high of $15.05. The stock’s 50 day moving average is $13.86 and its 200-day moving average is $12.64. The stock’s market capitalization is $420.39 million.
Model N (NYSE:MODN) last announced its quarterly earnings data on Tuesday, August 8th. The software maker reported ($0.23) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.04. Model N had a negative return on equity of 52.59% and a negative net margin of 30.85%. The firm had revenue of $34.20 million for the quarter, compared to the consensus estimate of $34.41 million. During the same quarter last year, the business posted ($0.16) earnings per share. The firm’s revenue was up 22.6% compared to the same quarter last year. On average, equities analysts predict that Model N will post ($0.62) EPS for the current fiscal year.
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In other Model N news, SVP Amelia Generalis sold 6,298 shares of Model N stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $13.35, for a total transaction of $84,078.30. Following the completion of the sale, the senior vice president now directly owns 70,436 shares of the company’s stock, valued at approximately $940,320.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 20.40% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. American International Group Inc. lifted its holdings in shares of Model N by 7.1% in the 1st quarter. American International Group Inc. now owns 13,678 shares of the software maker’s stock valued at $143,000 after purchasing an additional 904 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Model N by 3.7% in the 2nd quarter. Rhumbline Advisers now owns 25,302 shares of the software maker’s stock valued at $337,000 after purchasing an additional 905 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Model N by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 80,185 shares of the software maker’s stock valued at $1,066,000 after purchasing an additional 923 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of Model N by 14.7% in the 2nd quarter. Voya Investment Management LLC now owns 14,963 shares of the software maker’s stock valued at $199,000 after purchasing an additional 1,915 shares during the last quarter. Finally, First Light Asset Management LLC lifted its holdings in shares of Model N by 0.6% in the 2nd quarter. First Light Asset Management LLC now owns 423,211 shares of the software maker’s stock valued at $5,629,000 after purchasing an additional 2,461 shares during the last quarter. 65.87% of the stock is owned by institutional investors and hedge funds.
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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