Shares of Model N Inc (NYSE:MODN) have been given an average recommendation of “Buy” by the ten brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $24.33.
A number of analysts recently issued reports on MODN shares. Needham & Company LLC raised shares of Model N from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Wednesday, August 7th. JMP Securities increased their target price on shares of Model N to $29.00 and gave the stock a “positive” rating in a research report on Wednesday, August 7th. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their target price on shares of Model N from $21.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Chardan Capital reissued a “buy” rating and set a $23.00 target price on shares of Model N in a research report on Monday, May 20th.
MODN stock opened at $27.96 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.85. Model N has a twelve month low of $12.60 and a twelve month high of $29.26. The company’s 50 day moving average is $25.76 and its two-hundred day moving average is $20.24. The stock has a market cap of $885.83 million, a P/E ratio of -38.30 and a beta of 0.49.
Model N (NYSE:MODN) last released its quarterly earnings data on Tuesday, August 6th. The software maker reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Model N had a negative net margin of 12.21% and a negative return on equity of 27.17%. The company had revenue of $34.71 million for the quarter, compared to analysts’ expectations of $34.16 million. During the same quarter last year, the company earned ($0.07) earnings per share. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities research analysts predict that Model N will post -0.32 earnings per share for the current year.
In related news, SVP Mark Albert Anderson sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.26, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David Barter sold 1,522 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $26.12, for a total value of $39,754.64. Following the sale, the chief financial officer now directly owns 176,862 shares in the company, valued at $4,619,635.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,998 shares of company stock worth $237,992. Corporate insiders own 1.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Altshuler Shaham Ltd increased its holdings in shares of 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 purchasing an additional 998 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Model N during the second quarter valued at $40,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of 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 purchasing an additional 896 shares during the period. Aperio Group LLC acquired a new position in shares of Model N during the second quarter valued at $47,000. Finally, Bank of Montreal Can increased its holdings in shares of Model N by 119.4% during the second quarter. Bank of Montreal Can now owns 4,973 shares of the software maker’s stock valued at $97,000 after purchasing an additional 2,706 shares during the period. 78.69% of the stock is currently owned by institutional investors and hedge funds.
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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