Model N, Inc. (MODN) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Model N, Inc. (NYSE:MODN) announced its quarterly earnings results on Monday. The software maker reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.03, Bloomberg Earnings reports. The company had revenue of $35.61 million during the quarter, compared to analysts’ expectations of $34.86 million. Model N had a negative return on equity of 52.59% and a negative net margin of 30.85%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.28) earnings per share.
Model N (MODN) traded down $0.10 during trading hours on Tuesday, reaching $13.75. The company had a trading volume of 157,301 shares, compared to its average volume of 69,398. Model N has a 12 month low of $6.97 and a 12 month high of $15.05. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.23 and a quick ratio of 1.23.
Several brokerages have recently weighed in on MODN. Zacks Investment Research cut Model N from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. ValuEngine raised Model N from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BidaskClub raised Model N from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $13.67.
In other Model N news, SVP Amelia Generalis sold 6,298 shares of Model N stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $13.35, for a total transaction of $84,078.30. Following the completion of the sale, the senior vice president now owns 70,436 shares of the company’s stock, valued at $940,320.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David Barter sold 3,596 shares of Model N stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $14.65, for a total value of $52,681.40. Following the sale, the chief financial officer now directly owns 111,676 shares of the company’s stock, valued at approximately $1,636,053.40. The disclosure for this sale can be found here. Insiders have sold 13,652 shares of company stock valued at $186,741 in the last three months. 20.40% of the stock is owned by corporate insiders.
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About Model N
Model N, Inc is a provider of revenue management solutions for life science and technology companies. The Company’s solutions enable its customers to maximize revenues and reduce revenue compliance risk by transforming their revenue life cycle from a series of tactical, disjointed operations into a strategic end-to-end process.
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