ValuEngine lowered shares of Model N (NYSE:MODN) from a buy rating to a hold rating in a report issued on Thursday.
A number of other equities analysts have also issued reports on the company. Needham & Company LLC initiated coverage on Model N in a research report on Wednesday, July 18th. They issued a buy rating and a $23.00 target price on the stock. Zacks Investment Research lowered Model N from a buy rating to a hold rating in a research report on Monday, August 13th. JPMorgan Chase & Co. upped their target price on Model N to $23.00 and gave the company a neutral rating in a research report on Tuesday, August 7th. They noted that the move was a valuation call. Dougherty & Co initiated coverage on Model N in a research report on Tuesday, June 12th. They issued a buy rating and a $22.00 target price on the stock. Finally, JMP Securities reaffirmed a buy rating and issued a $25.00 target price on shares of Model N in a research report on Sunday, September 2nd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $22.60.
Model N stock opened at $15.25 on Thursday. The company has a market cap of $495.32 million, a P/E ratio of -18.37 and a beta of 0.70. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.37. Model N has a one year low of $13.36 and a one year high of $20.33.
Model N (NYSE:MODN) last released its quarterly earnings results on Tuesday, August 7th. The software maker reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. The firm had revenue of $39.62 million for the quarter, compared to analyst estimates of $39.28 million. Model N had a negative return on equity of 61.62% and a negative net margin of 21.89%. Sell-side analysts expect that Model N will post -0.78 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of Model N by 30.6% during the 1st quarter. BlackRock Inc. now owns 1,507,063 shares of the software maker’s stock valued at $27,203,000 after acquiring an additional 353,477 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Model N by 1,072.5% during the 1st quarter. JPMorgan Chase & Co. now owns 96,533 shares of the software maker’s stock valued at $1,742,000 after acquiring an additional 88,300 shares in the last quarter. Citigroup Inc. raised its position in shares of Model N by 286.3% during the 1st quarter. Citigroup Inc. now owns 16,508 shares of the software maker’s stock valued at $297,000 after acquiring an additional 12,235 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Model N by 14.6% during the 1st quarter. Allianz Asset Management GmbH now owns 358,488 shares of the software maker’s stock valued at $6,471,000 after acquiring an additional 45,666 shares in the last quarter. Finally, Next Century Growth Investors LLC acquired a new stake in shares of Model N during the 1st quarter valued at approximately $1,868,000. 68.73% of the stock is currently owned by institutional investors.
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.
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