Needham & Company LLC lowered shares of Model N (NYSE:MODN) from a buy rating to a hold rating in a research report report published on Wednesday, Marketbeat.com reports.
Other equities research analysts have also recently issued reports about the company. JMP Securities reissued a buy rating and set a $25.00 price target on shares of Model N in a report on Sunday, September 2nd. ValuEngine raised Model N from a hold rating to a buy rating in a report on Thursday, October 11th. Zacks Investment Research cut Model N from a buy rating to a hold rating in a report on Tuesday, October 9th. JPMorgan Chase & Co. raised their price target on Model N to $23.00 and gave the company a neutral rating in a report on Tuesday, August 7th. They noted that the move was a valuation call. Finally, CIBC began coverage on Model N in a report on Friday, October 19th. They set an outperform rating on the stock. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Model N presently has a consensus rating of Buy and a consensus price target of $22.29.
NYSE:MODN traded up $0.34 on Wednesday, reaching $14.29. 251,524 shares of the company’s stock traded hands, compared to its average volume of 190,250. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The stock has a market cap of $419.38 million, a PE ratio of -19.58 and a beta of 0.77. Model N has a 12 month low of $12.60 and a 12 month high of $20.33.
Model N (NYSE:MODN) last posted its quarterly earnings results on Tuesday, November 6th. The software maker reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.05. The business had revenue of $36.70 million for the quarter, compared to analysts’ expectations of $35.49 million. Model N had a negative return on equity of 54.37% and a negative net margin of 18.24%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned ($0.06) earnings per share. Sell-side analysts anticipate that Model N will post -0.21 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Trigran Investments Inc. grew its position in shares of Model N by 0.4% during the second quarter. Trigran Investments Inc. now owns 726,252 shares of the software maker’s stock valued at $13,508,000 after purchasing an additional 3,200 shares in the last quarter. Suffolk Capital Management LLC grew its position in shares of Model N by 7.0% during the third quarter. Suffolk Capital Management LLC now owns 55,697 shares of the software maker’s stock valued at $883,000 after purchasing an additional 3,653 shares in the last quarter. Rhumbline Advisers grew its position in shares of Model N by 20.6% during the second quarter. Rhumbline Advisers now owns 24,854 shares of the software maker’s stock valued at $462,000 after purchasing an additional 4,238 shares in the last quarter. Essex Investment Management Co. LLC grew its position in shares of Model N by 3.2% during the third quarter. Essex Investment Management Co. LLC now owns 146,347 shares of the software maker’s stock valued at $2,320,000 after purchasing an additional 4,573 shares in the last quarter. Finally, Engineers Gate Manager LP grew its position in shares of Model N by 31.1% during the second quarter. Engineers Gate Manager LP now owns 22,223 shares of the software maker’s stock valued at $413,000 after purchasing an additional 5,276 shares in the last quarter. Hedge funds and other institutional investors own 71.47% of the company’s stock.
Model N Company Profile
Model N, Inc provides revenue management cloud solutions for the life sciences, technology, and manufacturing companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, Revenue Cloud for High Tech, and Revenue Cloud. It develops software applications, such as managed care and government pricing for life science companies; and channel incentives for technology companies.
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