Model N Inc (NYSE:MODN) has received an average recommendation of “Hold” from the nine research firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $18.00.
MODN has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered shares of Model N from an “overweight” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research report on Tuesday, December 12th. Zacks Investment Research lowered shares of Model N from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Dougherty & Co boosted their price objective on shares of Model N from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Raymond James Financial reissued a “hold” rating on shares of Model N in a research report on Monday, December 4th. Finally, JMP Securities raised shares of Model N from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 7th.
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Model N by 3.0% in the second quarter. Vanguard Group Inc. now owns 963,235 shares of the software maker’s stock valued at $12,811,000 after buying an additional 28,369 shares during the last quarter. State Street Corp grew its holdings in Model N by 4.7% in the second quarter. State Street Corp now owns 372,302 shares of the software maker’s stock valued at $4,953,000 after purchasing an additional 16,720 shares during the period. Citadel Advisors LLC purchased a new stake in Model N in the third quarter valued at approximately $352,000. Russell Investments Group Ltd. grew its holdings in Model N by 22.7% in the third quarter. Russell Investments Group Ltd. now owns 64,322 shares of the software maker’s stock valued at $962,000 after purchasing an additional 11,915 shares during the period. Finally, TIAA CREF Investment Management LLC grew its holdings in Model N by 28.6% in the second quarter. TIAA CREF Investment Management LLC now owns 73,474 shares of the software maker’s stock valued at $977,000 after purchasing an additional 16,334 shares during the period. 65.56% of the stock is owned by institutional investors and hedge funds.
Model N (NYSE:MODN) last announced its earnings results on Tuesday, February 6th. The software maker reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The company had revenue of $39.10 million during the quarter, compared to analysts’ expectations of $37.14 million. Model N had a negative net margin of 26.17% and a negative return on equity of 55.03%. The firm’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.15) earnings per share. equities analysts expect that Model N will post -0.57 EPS for the current year.
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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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