Equities research analysts expect Model N Inc (NYSE:MODN) to announce sales of $37.19 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Model N’s earnings. The highest sales estimate is $37.20 million and the lowest is $37.18 million. Model N reported sales of $35.08 million during the same quarter last year, which would suggest a positive year over year growth rate of 6%. The business is scheduled to announce its next quarterly earnings report on Tuesday, February 4th.
According to Zacks, analysts expect that Model N will report full year sales of $153.39 million for the current financial year, with estimates ranging from $153.17 million to $153.52 million. For the next fiscal year, analysts forecast that the company will report sales of $168.69 million, with estimates ranging from $167.51 million to $169.98 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Model N.
Model N (NYSE:MODN) last released its quarterly earnings data on Tuesday, November 5th. The software maker reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.15. The firm had revenue of $36.60 million for the quarter, compared to analysts’ expectations of $35.72 million. Model N had a negative net margin of 13.66% and a negative return on equity of 29.48%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 earnings per share.
MODN has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of Model N from a “neutral” rating to an “overweight” rating and set a $36.00 price objective on the stock in a research report on Thursday. They noted that the move was a valuation call. Dougherty & Co lifted their price objective on shares of Model N from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price objective on shares of Model N in a research report on Wednesday, November 6th. Finally, ValuEngine cut shares of Model N from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Model N has an average rating of “Buy” and an average target price of $27.57.
Shares of Model N stock traded up $0.05 on Friday, hitting $32.78. 377,627 shares of the company traded hands, compared to its average volume of 218,951. The stock has a market capitalization of $1.08 billion, a P/E ratio of -76.23 and a beta of 0.51. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.24 and a current ratio of 1.24. Model N has a 52 week low of $12.98 and a 52 week high of $32.90. The business has a 50-day simple moving average of $30.20 and a 200 day simple moving average of $25.46.
In related news, CEO Jason Blessing sold 16,703 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $31.26, for a total value of $522,135.78. Following the sale, the chief executive officer now owns 353,961 shares in the company, valued at $11,064,820.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Barter sold 3,965 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $30.15, for a total transaction of $119,544.75. Insiders sold 30,062 shares of company stock worth $927,086 in the last 90 days. 1.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Model N by 68.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,209 shares of the software maker’s stock worth $43,000 after buying an additional 896 shares during the period. Altshuler Shaham Ltd boosted its stake in Model N by 216.5% during the second quarter. Altshuler Shaham Ltd now owns 1,459 shares of the software maker’s stock worth $28,000 after buying an additional 998 shares during the period. Envestnet Asset Management Inc. purchased a new position in Model N during the third quarter worth $236,000. Castleark Management LLC purchased a new position in Model N during the third quarter worth $3,909,000. Finally, Parametric Portfolio Associates LLC boosted its stake in Model N by 5.4% during the second quarter. Parametric Portfolio Associates LLC now owns 96,804 shares of the software maker’s stock worth $1,888,000 after buying an additional 4,989 shares during the period. 84.94% of the stock is owned by institutional investors.
Model N Company Profile
Model N, Inc provides revenue management cloud solutions for the life sciences and technology companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, and Revenue Cloud for Semiconductors and High Tech Manufacturing. 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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