Shares of Model N Inc (NYSE:MODN) have been assigned an average recommendation of “Buy” from the nine analysts that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $23.20.

Several research firms have commented on MODN. CIBC began coverage on shares of Model N in a research report on Friday, October 19th. They set an “outperform” rating on the stock. Oppenheimer began coverage on shares of Model N in a research report on Friday, October 19th. They set an “outperform” rating and a $23.00 target price on the stock. ValuEngine raised shares of Model N from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Zacks Investment Research cut shares of Model N from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Finally, JMP Securities reissued a “buy” rating and set a $25.00 target price on shares of Model N in a research report on Sunday, September 2nd.

MODN stock traded down $0.23 during mid-day trading on Tuesday, reaching $15.10. 153,628 shares of the company traded hands, compared to its average volume of 237,490. The company has a market capitalization of $471.88 million, a P/E ratio of -18.19 and a beta of 0.69. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.18 and a current ratio of 1.18. Model N has a fifty-two week low of $13.36 and a fifty-two week high of $20.33.

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

Several large investors have recently bought and sold shares of MODN. BlackRock Inc. raised its holdings in shares of Model N by 30.6% in the 1st quarter. BlackRock Inc. now owns 1,507,063 shares of the software maker’s stock worth $27,203,000 after purchasing an additional 353,477 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Model N by 1,072.5% in the 1st quarter. JPMorgan Chase & Co. now owns 96,533 shares of the software maker’s stock worth $1,742,000 after purchasing an additional 88,300 shares during the period. Barclays PLC raised its holdings in shares of Model N by 153.5% in the 1st quarter. Barclays PLC now owns 9,550 shares of the software maker’s stock worth $171,000 after purchasing an additional 5,783 shares during the period. Millennium Management LLC raised its holdings in shares of Model N by 51.0% in the 1st quarter. Millennium Management LLC now owns 1,062,435 shares of the software maker’s stock worth $19,177,000 after purchasing an additional 358,797 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of Model N by 14.6% in the 1st quarter. Allianz Asset Management GmbH now owns 358,488 shares of the software maker’s stock worth $6,471,000 after purchasing an additional 45,666 shares during the period. 68.68% of the stock is currently owned by 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.

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Analyst Recommendations for Model N (NYSE:MODN)

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