Model N (MODN) Price Target Cut to $20.00 by Analysts at Craig Hallum

Model N (NYSE:MODN) had its target price trimmed by Craig Hallum from $25.00 to $20.00 in a research note published on Wednesday morning, The Fly reports. The firm currently has a buy rating on the software maker’s stock.

MODN has been the subject of a number of other research reports. JMP Securities reissued a buy rating and issued a $25.00 target price on shares of Model N in a research note on Sunday, September 2nd. CIBC assumed coverage on Model N in a research note on Friday, October 19th. They issued an outperform rating for the company. Zacks Investment Research lowered Model N from a buy rating to a hold rating in a research note on Tuesday, October 9th. Needham & Company LLC lowered Model N from a buy rating to a hold rating in a research note on Wednesday. Finally, ValuEngine raised Model N from a hold rating to a buy rating in a research note on Thursday, October 11th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $22.29.

Shares of MODN traded up $0.34 during midday trading on Wednesday, reaching $14.29. The stock had a trading volume of 251,524 shares, compared to its average volume of 190,250. Model N has a 12-month low of $12.60 and a 12-month high of $20.33. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $419.38 million, a P/E ratio of -19.58 and a beta of 0.77.

Model N (NYSE:MODN) last posted its quarterly earnings data on Tuesday, November 6th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.05. Model N had a negative return on equity of 54.37% and a negative net margin of 18.24%. The firm had revenue of $36.70 million during the quarter, compared to analysts’ expectations of $35.49 million. During the same period in the prior year, the business earned ($0.06) EPS. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts predict that Model N will post -0.21 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in 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 purchasing an additional 353,477 shares during the last quarter. JPMorgan Chase & Co. raised its position in 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 purchasing an additional 88,300 shares during the last quarter. Allianz Asset Management GmbH raised its position in 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 purchasing an additional 45,666 shares during the last quarter. Mesirow Financial Investment Management Inc. bought a new position in Model N during the 2nd quarter valued at approximately $372,000. Finally, Acadian Asset Management LLC bought a new position in Model N during the 2nd quarter valued at approximately $1,184,000. 71.47% of the stock is 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.

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