Model N (MODN) Stock Rating Upgraded by ValuEngine

Share on StockTwits

Model N (NYSE:MODN) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Thursday.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Model N from a “buy” rating to a “hold” rating in a research report on Tuesday. Needham & Company LLC started coverage on shares of Model N in a research report on Wednesday, July 18th. They set a “buy” rating and a $23.00 price target on the stock. JMP Securities reissued a “buy” rating and set a $25.00 price target on shares of Model N in a research report on Sunday, September 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Model N to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $22.60.

MODN opened at $15.13 on Thursday. The firm has a market capitalization of $495.32 million, a P/E ratio of -18.23 and a beta of 0.70. Model N has a 12 month low of $13.36 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.

Model N (NYSE:MODN) last posted its quarterly earnings data on Tuesday, August 7th. The software maker reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03. The business had revenue of $39.62 million for the quarter, compared to analysts’ expectations of $39.28 million. Model N had a negative net margin of 21.89% and a negative return on equity of 61.62%. As a group, equities analysts forecast that Model N will post -0.78 EPS for the current year.

Large investors have recently modified their holdings of the business. American Century Companies Inc. bought a new stake in Model N during the 2nd quarter worth about $1,756,000. Spark Investment Management LLC bought a new stake in shares of Model N in the 2nd quarter valued at about $1,588,000. Rhumbline Advisers raised its holdings in shares of Model N by 20.6% in the 2nd quarter. Rhumbline Advisers now owns 24,854 shares of the software maker’s stock valued at $462,000 after purchasing an additional 4,238 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of Model N in the 2nd quarter valued at about $3,738,000. Finally, Citadel Advisors LLC raised its holdings in shares of Model N by 245.9% in the 2nd quarter. Citadel Advisors LLC now owns 265,163 shares of the software maker’s stock valued at $4,932,000 after purchasing an additional 188,512 shares during the period. 68.73% of the stock is currently owned by hedge funds and other 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.

Further Reading: Short Selling Stocks, A Beginner’s Guide

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

Analyst Recommendations for Model N (NYSE:MODN)

Receive News & Ratings for Model N Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Model N and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply