Brokerages predict that Model N Inc (NYSE:MODN) will announce sales of $35.47 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Model N’s earnings, with estimates ranging from $35.36 million to $35.57 million. Model N reported sales of $35.61 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.4%. The business is scheduled to issue its next earnings results on Tuesday, November 6th.
According to Zacks, analysts expect that Model N will report full-year sales of $153.63 million for the current financial year, with estimates ranging from $153.28 million to $154.11 million. For the next fiscal year, analysts expect that the company will post sales of $154.60 million per share, with estimates ranging from $152.05 million to $157.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Model N.
Model N (NYSE:MODN) last posted its earnings results on Tuesday, August 7th. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating 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 business had revenue of $39.62 million for the quarter, compared to analysts’ expectations of $39.28 million.
MODN has been the topic of several recent research reports. Dougherty & Co initiated coverage on shares of Model N in a research note on Tuesday, June 12th. They issued a “buy” rating and a $22.00 price objective on the stock. Needham & Company LLC initiated coverage on shares of Model N in a research note on Wednesday, July 18th. They issued a “buy” rating and a $23.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Model N to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 7th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Model N from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Finally, JMP Securities reiterated a “buy” rating and issued a $25.00 price objective on shares of Model N in a research note on Sunday, September 2nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.60.
In other Model N news, major shareholder Zack Rinat sold 457,000 shares of the firm’s stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $17.00, for a total transaction of $7,769,000.00. Following the sale, the insider now owns 2,735,396 shares in the company, valued at approximately $46,501,732. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 972,467 shares of company stock worth $16,531,498. 18.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MODN. Trexquant Investment LP raised its stake in Model N by 46.7% during the 1st quarter. Trexquant Investment LP now owns 22,254 shares of the software maker’s stock worth $402,000 after acquiring an additional 7,082 shares during the period. Engineers Gate Manager LP bought a new stake in Model N during the 1st quarter worth approximately $306,000. BlackRock Inc. raised its stake in Model N by 30.6% during the 1st quarter. BlackRock Inc. now owns 1,507,063 shares of the software maker’s stock worth $27,203,000 after acquiring an additional 353,477 shares during the period. JPMorgan Chase & Co. grew its holdings in Model N by 1,072.5% during the 1st quarter. JPMorgan Chase & Co. now owns 96,533 shares of the software maker’s stock valued at $1,742,000 after buying an additional 88,300 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in Model N by 286.3% during the 1st quarter. Citigroup Inc. now owns 16,508 shares of the software maker’s stock valued at $297,000 after buying an additional 12,235 shares in the last quarter. Institutional investors own 68.74% of the company’s stock.
Shares of NYSE:MODN traded up $0.25 during trading on Friday, hitting $16.45. The company’s stock had a trading volume of 205,296 shares, compared to its average volume of 264,337. Model N has a 12 month low of $13.13 and a 12 month high of $20.33. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.37.
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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