Craig Hallum Trims Model N (MODN) Target Price to $20.00

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

Several other analysts have also issued reports on MODN. ValuEngine lowered Model N from a buy rating to a hold rating in a research note on Thursday, November 1st. Needham & Company LLC lowered Model N from a buy rating to a hold rating in a research note on Wednesday. Zacks Investment Research lowered Model N from a buy rating to a hold rating in a research note on Tuesday, October 9th. JMP Securities restated a buy rating and issued a $25.00 target price on shares of Model N in a research note on Sunday, September 2nd. Finally, Oppenheimer assumed coverage on Model N in a research note on Friday, October 19th. They issued an outperform rating and a $23.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $22.29.

NYSE MODN traded up $0.34 during trading hours on Wednesday, hitting $14.29. 251,524 shares of the company’s stock were exchanged, compared to its average volume of 190,250. Model N has a 1-year low of $12.60 and a 1-year high of $20.33. The stock has a market capitalization of $419.38 million, a P/E ratio of -19.58 and a beta of 0.77. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.18.

Model N (NYSE:MODN) last issued its earnings results on Tuesday, November 6th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.05. The firm had revenue of $36.70 million for the quarter, compared to analyst estimates of $35.49 million. Model N had a negative return on equity of 54.37% and a negative net margin of 18.24%. The business’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. Equities analysts expect that Model N will post -0.21 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in MODN. FMR LLC grew its position in shares of Model N by 83.9% in the third quarter. FMR LLC now owns 2,126,685 shares of the software maker’s stock valued at $33,708,000 after purchasing an additional 970,095 shares in the last quarter. Frontier Capital Management Co. LLC grew its position in shares of Model N by 976.8% in the third quarter. Frontier Capital Management Co. LLC now owns 882,446 shares of the software maker’s stock valued at $13,987,000 after purchasing an additional 800,492 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Model N in the third quarter valued at $7,070,000. BlackRock Inc. grew its position in shares of Model N by 25.0% in the third quarter. BlackRock Inc. now owns 2,177,385 shares of the software maker’s stock valued at $34,511,000 after purchasing an additional 434,804 shares in the last quarter. Finally, First Light Asset Management LLC grew its position in shares of Model N by 25.2% in the second quarter. First Light Asset Management LLC now owns 1,339,922 shares of the software maker’s stock valued at $24,923,000 after purchasing an additional 269,899 shares in the last quarter. Institutional investors own 71.47% of the company’s stock.

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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