Model N (MODN) Lifted to Buy at ValuEngine

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ValuEngine upgraded shares of Model N (NYSE:MODN) from a hold rating to a buy rating in a research note published on Wednesday morning.

Several other equities analysts also recently issued reports on MODN. Zacks Investment Research downgraded Model N from a buy rating to a hold rating in a research report on Tuesday, October 9th. Needham & Company LLC downgraded Model N from a buy rating to a hold rating in a research report on Wednesday, November 7th. JMP Securities reissued a buy rating and issued a $25.00 target price on shares of Model N in a research report on Sunday, September 2nd. Craig Hallum cut their target price on Model N from $25.00 to $20.00 and set a buy rating on the stock in a research report on Wednesday, November 7th. Finally, CIBC assumed coverage on Model N in a research report on Friday, October 19th. They issued an outperform rating on the stock. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Model N currently has an average rating of Buy and a consensus price target of $22.29.

NYSE MODN opened at $14.17 on Wednesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.23 and a current ratio of 1.23. Model N has a 1 year low of $12.60 and a 1 year high of $20.33.

Model N (NYSE:MODN) last released its earnings results on Tuesday, November 6th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.05. Model N had a negative return on equity of 54.52% and a negative net margin of 18.24%. The firm had revenue of $36.70 million for the quarter, compared to the consensus estimate of $35.49 million. During the same period in the prior year, the firm earned ($0.06) EPS. The firm’s revenue was up 3.1% on a year-over-year basis. On average, analysts anticipate that Model N will post -0.36 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Model N by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,078,347 shares of the software maker’s stock worth $17,092,000 after purchasing an additional 12,290 shares during the period. TIAA CREF Investment Management LLC grew its position in Model N by 5.8% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 437,643 shares of the software maker’s stock worth $6,937,000 after purchasing an additional 24,130 shares during the period. AQR Capital Management LLC grew its position in Model N by 445.4% during the 3rd quarter. AQR Capital Management LLC now owns 125,282 shares of the software maker’s stock worth $1,986,000 after purchasing an additional 102,313 shares during the period. MetLife Investment Advisors LLC grew its position in Model N by 55.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 18,053 shares of the software maker’s stock worth $286,000 after purchasing an additional 6,470 shares during the period. Finally, Algert Global LLC grew its position in Model N by 10.3% during the 3rd quarter. Algert Global LLC now owns 46,725 shares of the software maker’s stock worth $741,000 after purchasing an additional 4,365 shares during the period. 70.40% of the stock is currently owned by institutional investors.

Model N Company Profile

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.

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

Analyst Recommendations for Model N (NYSE:MODN)

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