ValuEngine upgraded shares of Model N (NYSE:MODN) from a hold rating to a buy rating in a research report report published on Wednesday morning.

A number of other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Model N from a buy rating to a hold rating in a research note on Monday, August 13th. CIBC started coverage on shares of Model N in a research note on Friday, October 19th. They issued an outperform rating on the stock. JPMorgan Chase & Co. raised their price target on shares of Model N to $23.00 and gave the company a neutral rating in a research note on Tuesday, August 7th. They noted that the move was a valuation call. Craig Hallum decreased their price target on shares of Model N from $25.00 to $20.00 and set a buy rating on the stock in a research note on Wednesday, November 7th. Finally, Oppenheimer started coverage on shares of Model N in a research note on Friday, October 19th. They issued an outperform rating and a $23.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $22.29.

NYSE:MODN opened at $14.17 on Wednesday. Model N has a 52 week low of $12.60 and a 52 week high of $20.33. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.31.

Model N (NYSE:MODN) last posted its earnings results on Tuesday, November 6th. The software maker reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.05. Model N had a negative return on equity of 54.52% and a negative net margin of 18.24%. The firm had revenue of $36.70 million for the quarter, compared to analysts’ expectations of $35.49 million. During the same period last year, the firm earned ($0.06) EPS. The company’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts forecast that Model N will post -0.36 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the stock. Trigran Investments Inc. lifted its stake in Model N by 0.4% in the 2nd quarter. Trigran Investments Inc. now owns 726,252 shares of the software maker’s stock valued at $13,508,000 after buying an additional 3,200 shares in the last quarter. Suffolk Capital Management LLC lifted its stake in Model N by 7.0% in the 3rd quarter. Suffolk Capital Management LLC now owns 55,697 shares of the software maker’s stock valued at $883,000 after buying an additional 3,653 shares in the last quarter. Rhumbline Advisers lifted its stake in 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 buying an additional 4,238 shares in the last quarter. Algert Global LLC lifted its stake in Model N by 10.3% in the 3rd quarter. Algert Global LLC now owns 46,725 shares of the software maker’s stock valued at $741,000 after buying an additional 4,365 shares in the last quarter. Finally, Essex Investment Management Co. LLC lifted its stake in Model N by 3.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 146,347 shares of the software maker’s stock valued at $2,320,000 after buying an additional 4,573 shares in the last quarter. 70.40% 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.

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