BidaskClub Lowers Model N, Inc. (MODN) to Buy
BidaskClub lowered shares of Model N, Inc. (NYSE:MODN) from a strong-buy rating to a buy rating in a report published on Thursday morning.
Several other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Model N from a buy rating to a hold rating in a research note on Thursday, August 17th. Dougherty & Co began coverage on shares of Model N in a research note on Thursday, June 29th. They issued a buy rating and a $17.00 target price for the company. Chardan Capital began coverage on shares of Model N in a research note on Friday, May 19th. They issued a buy rating and a $16.00 target price for the company. Finally, Craig Hallum upgraded shares of Model N from a hold rating to a buy rating in a research note on Tuesday, May 9th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $13.50.
Shares of Model N (NYSE:MODN) traded up 0.37% on Thursday, reaching $13.45. 93,401 shares of the company’s stock were exchanged. Model N has a 12 month low of $6.98 and a 12 month high of $13.75. The company’s market cap is $391.30 million. The firm’s 50-day moving average price is $13.14 and its 200 day moving average price is $11.84.
Model N (NYSE:MODN) last posted its earnings results on Tuesday, August 8th. The software maker reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.04. The firm had revenue of $34.20 million during the quarter, compared to the consensus estimate 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 revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.16) earnings per share. Equities research analysts predict that Model N will post ($0.62) EPS for the current fiscal year.
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In related news, SVP Amelia Generalis sold 3,758 shares of the business’s 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 completion of the transaction, the senior vice president now owns 76,734 shares of the company’s stock, valued at $1,020,562.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 20.40% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of MODN. Metropolitan Life Insurance Co. NY purchased a new position in shares of Model N during the first quarter valued at approximately $175,000. Redmile Group LLC boosted its position 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 valued at $8,593,000 after buying an additional 12,400 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position 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 valued at $479,000 after buying an additional 17,500 shares in the last quarter. UBS Group AG boosted its position 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 valued at $2,409,000 after buying an additional 226,512 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position 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 valued at $1,977,000 after buying an additional 7,707 shares in the last quarter. 66.12% of the stock is owned by institutional investors.
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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