Needham & Company LLC reiterated their buy rating on shares of Model N (NYSE:MODN) in a research report sent to investors on Wednesday morning, The Fly reports. Needham & Company LLC currently has a $34.00 price target on the software maker’s stock.

Other equities analysts have also recently issued reports about the company. ValuEngine cut Model N from a buy rating to a hold rating in a report on Wednesday, October 2nd. Dougherty & Co boosted their price target on Model N from $26.00 to $32.00 and gave the stock a buy rating in a report on Monday, September 23rd. JMP Securities boosted their price target on Model N to $29.00 and gave the stock a positive rating in a report on Wednesday, August 7th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. boosted their price target on Model N from $21.00 to $25.00 and gave the stock a neutral rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $27.00.

MODN stock traded up $0.57 during midday trading on Wednesday, hitting $30.16. 188,914 shares of the stock were exchanged, compared to its average volume of 253,866. The stock’s 50-day moving average price is $28.44 and its 200-day moving average price is $23.42. The stock has a market cap of $962.70 million, a price-to-earnings ratio of -70.14 and a beta of 0.52. Model N has a fifty-two week low of $12.98 and a fifty-two week high of $32.00. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.33 and a current ratio of 1.33.

Model N (NYSE:MODN) last issued its quarterly earnings data on Tuesday, November 5th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.15. The firm had revenue of $36.60 million during the quarter, compared to analysts’ expectations of $35.72 million. Model N had a negative return on equity of 29.70% and a negative net margin of 13.66%. Model N’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. Research analysts anticipate that Model N will post -0.19 EPS for the current year.

In other news, CFO David Barter sold 1,522 shares of Model N stock in a transaction on Friday, August 16th. The stock was sold at an average price of $26.12, for a total value of $39,754.64. Following the completion of the sale, the chief financial officer now owns 176,862 shares of the company’s stock, valued at $4,619,635.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Mark Albert Anderson sold 2,600 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.26, for a total value of $70,876.00. Following the sale, the senior vice president now directly owns 128,125 shares of the company’s stock, valued at approximately $3,492,687.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,998 shares of company stock valued at $237,992. Company insiders own 1.20% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Altshuler Shaham Ltd grew its position in Model N by 216.5% during the second quarter. Altshuler Shaham Ltd now owns 1,459 shares of the software maker’s stock valued at $28,000 after acquiring an additional 998 shares during the period. Cutler Group LP grew its position in Model N by 1,500.0% during the third quarter. Cutler Group LP now owns 1,400 shares of the software maker’s stock valued at $38,000 after acquiring an additional 1,500 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Model N during the second quarter valued at about $40,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Model N by 68.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,209 shares of the software maker’s stock valued at $43,000 after acquiring an additional 896 shares during the period. Finally, Aperio Group LLC purchased a new stake in Model N during the second quarter valued at about $47,000. 77.87% of the stock is owned by hedge funds and other institutional investors.

About Model N

Model N, Inc provides revenue management cloud solutions for the life sciences and technology companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, and Revenue Cloud for Semiconductors and High Tech Manufacturing. 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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Analyst Recommendations for Model N (NYSE:MODN)

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