Model N, Inc. (MODN) Upgraded by BidaskClub to Strong-Buy
BidaskClub upgraded shares of Model N, Inc. (NYSE:MODN) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.
A number of other equities analysts also recently commented on MODN. Dougherty & Co started coverage on Model N in a research note on Thursday, June 29th. They issued a buy rating and a $17.00 target price for the company. Zacks Investment Research upgraded Model N from a sell rating to a hold rating in a research note on Monday, July 10th. Finally, ValuEngine upgraded Model N from a sell rating to a hold rating in a research note on Friday, September 1st. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $13.67.
Shares of Model N (NYSE:MODN) traded down 0.33% during mid-day trading on Friday, hitting $14.95. The company had a trading volume of 66,570 shares. The stock’s 50-day moving average is $13.31 and its 200-day moving average is $12.20. Model N has a 52-week low of $6.97 and a 52-week high of $15.05. The stock’s market cap is $434.94 million.
Model N (NYSE:MODN) last issued its earnings results on Tuesday, August 8th. The software maker reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.04. Model N had a negative return on equity of 52.59% and a negative net margin of 30.85%. The company had revenue of $34.20 million during the quarter, compared to the consensus estimate of $34.41 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. Model N’s quarterly revenue was up 22.6% compared to the same quarter last year. Equities analysts forecast that Model N will post ($0.62) earnings per share for the current year.
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In other news, SVP Amelia Generalis sold 6,298 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 70,436 shares in the company, valued at $940,320.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 20.40% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Prescott Group Capital Management L.L.C. bought a new stake in Model N during the second quarter worth approximately $140,000. Prudential Financial Inc. bought a new stake in Model N during the second quarter worth approximately $141,000. American International Group Inc. raised its holdings in Model N by 7.1% during the first quarter. American International Group Inc. now owns 13,678 shares of the software maker’s stock worth $143,000 after purchasing an additional 904 shares in the last quarter. Voya Investment Management LLC raised its holdings in Model N by 14.7% during the second quarter. Voya Investment Management LLC now owns 14,963 shares of the software maker’s stock worth $199,000 after purchasing an additional 1,915 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in Model N during the second quarter worth approximately $221,000. 65.87% of the stock is currently owned by hedge funds and other institutional investors.
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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