Model N (MODN) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Model N (NYSE:MODN) from a hold rating to a buy rating in a research note issued to investors on Monday.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase downgraded Model N from an overweight rating to a neutral rating and set a $18.00 target price on the stock. in a report on Tuesday, December 12th. JMP Securities raised Model N from a market perform rating to an outperform rating in a research note on Wednesday, February 7th. Zacks Investment Research raised Model N from a hold rating to a buy rating and set a $18.00 price objective on the stock in a research note on Friday, January 5th. Dougherty & Co raised their price objective on Model N from $17.00 to $20.00 and gave the stock a buy rating in a research note on Tuesday, December 19th. Finally, Raymond James Financial reaffirmed a hold rating on shares of Model N in a research note on Monday, December 4th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Model N has an average rating of Buy and a consensus price target of $19.25.

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MODN stock opened at $17.55 on Monday. Model N has a fifty-two week low of $9.95 and a fifty-two week high of $18.90. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.15 and a quick ratio of 1.15.

Model N (NYSE:MODN) last posted its earnings results on Tuesday, February 6th. The software maker reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. Model N had a negative return on equity of 55.03% and a negative net margin of 26.17%. The company had revenue of $39.10 million for the quarter, compared to the consensus estimate of $37.14 million. During the same quarter in the prior year, the company earned ($0.15) earnings per share. Model N’s revenue was up 39.1% on a year-over-year basis. sell-side analysts anticipate that Model N will post -0.57 earnings per share for the current fiscal year.

In other news, SVP Neeraj Gokhale sold 1,628 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $16.94, for a total value of $27,578.32. Following the transaction, the senior vice president now owns 81,389 shares of the company’s stock, valued at $1,378,729.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mark Albert Anderson sold 10,153 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $16.65, for a total value of $169,047.45. The disclosure for this sale can be found here. 18.90% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Trexquant Investment LP purchased a new stake in shares of Model N during the third quarter worth about $154,000. MetLife Investment Advisors LLC purchased a new stake in shares of Model N during the fourth quarter worth about $182,000. Advisor Group Inc. grew its position in shares of Model N by 24,927.1% during the fourth quarter. Advisor Group Inc. now owns 14,766 shares of the software maker’s stock worth $233,000 after purchasing an additional 14,707 shares in the last quarter. Strs Ohio purchased a new stake in shares of Model N during the fourth quarter worth about $264,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Model N during the third quarter worth about $352,000. 62.71% of the stock is currently owned by hedge funds and other institutional investors.

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About Model N

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Model N (NYSE:MODN)

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