Model N (MODN) Rating Lowered to Hold at ValuEngine

ValuEngine downgraded shares of Model N (NYSE:MODN) from a buy rating to a hold rating in a research note published on Thursday morning.

Other analysts also recently issued research reports about the stock. JMP Securities reiterated a buy rating and issued a $25.00 target price on shares of Model N in a report on Sunday, September 2nd. Needham & Company LLC started coverage on shares of Model N in a report on Wednesday, July 18th. They issued a buy rating and a $23.00 target price for the company. Zacks Investment Research downgraded shares of Model N from a buy rating to a hold rating in a report on Tuesday, October 9th. JPMorgan Chase & Co. increased their target price on shares of Model N to $23.00 and gave the company a neutral rating in a report on Tuesday, August 7th. They noted that the move was a valuation call. Finally, CIBC started coverage on shares of Model N in a report on Friday, October 19th. They issued an outperform rating for the company. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $22.67.

MODN traded down $0.25 during trading on Thursday, hitting $15.12. 140,570 shares of the company’s stock were exchanged, compared to its average volume of 228,630. 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 released its quarterly earnings data on Tuesday, August 7th. The software maker reported ($0.07) earnings per share 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 the consensus estimate of $39.28 million. Equities analysts forecast that Model N will post -0.78 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. American Century Companies Inc. grew its position in Model N by 256.1% during the third quarter. American Century Companies Inc. now owns 336,079 shares of the software maker’s stock valued at $5,327,000 after buying an additional 241,690 shares during the period. Monarch Partners Asset Management LLC grew its position in Model N by 18.1% during the third quarter. Monarch Partners Asset Management LLC now owns 36,860 shares of the software maker’s stock valued at $584,000 after buying an additional 5,660 shares during the period. Engineers Gate Manager LP grew its position in Model N by 36.0% during the third quarter. Engineers Gate Manager LP now owns 30,219 shares of the software maker’s stock valued at $479,000 after buying an additional 7,996 shares during the period. Emerald Mutual Fund Advisers Trust grew its position in Model N by 12.5% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 672,049 shares of the software maker’s stock valued at $10,652,000 after buying an additional 74,900 shares during the period. Finally, Acadian Asset Management LLC grew its position in Model N by 20.0% during the third quarter. Acadian Asset Management LLC now owns 76,365 shares of the software maker’s stock valued at $1,210,000 after buying an additional 12,713 shares during the period. Institutional investors own 68.94% 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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Analyst Recommendations for Model N (NYSE:MODN)

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