Brokerages Set Model N (MODN) Price Target at $19.25

Model N (NYSE:MODN) has received a consensus rating of “Buy” from the nine research firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $19.25.

MODN has been the subject of several analyst reports. JPMorgan Chase cut shares of Model N from an “overweight” rating to a “neutral” rating and set a $18.00 price target for the company. in a report on Tuesday, December 12th. JMP Securities raised shares of Model N from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 7th. Zacks Investment Research raised shares of Model N from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Friday, January 5th. Dougherty & Co increased their price target on shares of Model N from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. Finally, ValuEngine raised shares of Model N from a “sell” rating to a “hold” rating in a report on Friday, February 2nd.

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In other Model N news, SVP Mark Albert Anderson sold 10,153 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $16.65, for a total transaction of $169,047.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Neeraj Gokhale sold 1,628 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $16.94, for a total transaction of $27,578.32. Following the transaction, the senior vice president now owns 81,389 shares in the company, valued at $1,378,729.66. The disclosure for this sale can be found here. Corporate insiders own 18.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its position in Model N by 1.7% during the fourth quarter. BlackRock Inc. now owns 1,153,586 shares of the software maker’s stock worth $18,169,000 after buying an additional 18,754 shares during the period. Renaissance Technologies LLC grew its position in Model N by 62.1% during the fourth quarter. Renaissance Technologies LLC now owns 911,700 shares of the software maker’s stock worth $14,359,000 after buying an additional 349,300 shares during the period. Redmile Group LLC grew its position in Model N by 1.8% during the fourth quarter. Redmile Group LLC now owns 853,714 shares of the software maker’s stock worth $13,446,000 after buying an additional 14,800 shares during the period. Millennium Management LLC grew its position in Model N by 53.8% during the fourth quarter. Millennium Management LLC now owns 703,638 shares of the software maker’s stock worth $11,082,000 after buying an additional 246,093 shares during the period. Finally, Lyon Street Capital LLC grew its position in Model N by 15.5% during the fourth quarter. Lyon Street Capital LLC now owns 666,277 shares of the software maker’s stock worth $10,494,000 after buying an additional 89,492 shares during the period. Institutional investors own 62.71% of the company’s stock.

Shares of NYSE:MODN opened at $17.45 on Thursday. Model N has a one year low of $10.00 and a one year 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 quarterly earnings results on Tuesday, February 6th. The software maker reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $39.10 million during the quarter, compared to analysts’ expectations of $37.14 million. Model N had a negative net margin of 26.17% and a negative return on equity of 55.03%. The firm’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.15) earnings per share. equities research analysts predict that Model N will post -0.57 EPS for the current fiscal year.

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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.

Analyst Recommendations for Model N (NYSE:MODN)

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