Model N Inc. (MODN) Stock Rating Upgraded by Zacks Investment Research
Model N Inc. (NYSE:MODN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Model N, Inc. provides revenue management solutions for the life science and technology industries. It develops applications, such as managed care and government pricing for life science companies; and channel incentives based on design wins for technology companies. In addition, it offers implementation, managed, strategic, and customer support services. Model N, Inc. is headquartered in Redwood Shores, California. “
A number of other brokerages have also recently commented on MODN. JMP Securities cut Model N from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 9th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $16.00 target price (down from $18.00) on shares of Model N in a report on Tuesday, August 9th.
Model N (NYSE:MODN) opened at 10.05 on Wednesday. The company’s 50-day moving average price is $10.64 and its 200 day moving average price is $11.61. Model N has a 52-week low of $9.19 and a 52-week high of $13.98. The stock’s market capitalization is $278.05 million.
Model N (NYSE:MODN) last announced its earnings results on Monday, August 8th. The company reported ($0.16) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.04. Model N had a negative return on equity of 37.01% and a negative net margin of 29.19%. The company had revenue of $27.90 million for the quarter, compared to analysts’ expectations of $27.34 million. During the same period last year, the firm earned ($0.08) EPS. Model N’s revenue for the quarter was up 18.2% compared to the same quarter last year. Equities analysts forecast that Model N will post ($0.66) EPS for the current fiscal year.
In other Model N news, SVP Eric Carrasquilla sold 4,031 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $10.61, for a total value of $42,768.91. Following the completion of the sale, the senior vice president now owns 59,691 shares in the company, valued at approximately $633,321.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 20.90% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Teachers Advisors Inc. raised its stake in shares of Model N by 0.3% in the second quarter. Teachers Advisors Inc. now owns 33,699 shares of the company’s stock worth $450,000 after buying an additional 92 shares during the last quarter. BlackRock Advisors LLC raised its stake in shares of Model N by 1.4% in the second quarter. BlackRock Advisors LLC now owns 10,930 shares of the company’s stock worth $146,000 after buying an additional 148 shares during the last quarter. American International Group Inc. raised its stake in shares of Model N by 4.4% in the second quarter. American International Group Inc. now owns 12,789 shares of the company’s stock worth $171,000 after buying an additional 534 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of Model N by 4.4% in the second quarter. Nationwide Fund Advisors now owns 14,517 shares of the company’s stock worth $194,000 after buying an additional 610 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Model N by 9.1% in the second quarter. Rhumbline Advisers now owns 21,395 shares of the company’s stock worth $286,000 after buying an additional 1,791 shares during the last quarter. Institutional investors and hedge funds own 67.47% of the company’s stock.
Model N Company Profile
Model N, Inc is a provider of revenue management cloud solutions for life science and technology companies. The Company’s solutions enable its customers to manage revenue compliance risk. The Company’s solutions include Revenue Enterprise Cloud, Revenue Intelligence Cloud and Revvy. The Company provides solutions that span the organizational and operational boundaries of functions, such as sales, marketing and finance, and serve as a system of record for revenue management processes, including pricing, contracts, rebates, incentives and regulatory compliance.
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