Brokerages predict that Model N (NYSE:MODN) will report $38.32 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Model N’s earnings, with estimates ranging from $38.29 million to $38.35 million. Model N posted sales of $33.26 million in the same quarter last year, which suggests a positive year over year growth rate of 15.2%. The business is scheduled to report its next earnings results after the market closes on Tuesday, May 8th.
According to Zacks, analysts expect that Model N will report full-year sales of $149.96 million for the current fiscal year, with estimates ranging from $149.60 million to $150.43 million. For the next fiscal year, analysts expect that the business will report sales of $163.76 million per share, with estimates ranging from $151.07 million to $171.50 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Model N.
Model N (NYSE:MODN) last issued its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. Model N had a negative net margin of 26.17% and a negative return on equity of 55.03%. The company had revenue of $39.10 million during the quarter, compared to analysts’ expectations of $37.14 million. During the same quarter in the previous year, the company earned ($0.15) EPS. Model N’s revenue was up 39.1% on a year-over-year basis.
Several research analysts recently weighed in on MODN shares. Zacks Investment Research raised shares of Model N from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Monday, March 12th. ValuEngine raised shares of Model N from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Dougherty & Co lifted their price objective on shares of Model N from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. JPMorgan Chase set a $20.00 price objective on shares of Model N and gave the stock a “hold” rating in a research note on Wednesday, March 14th. They noted that the move was a valuation call. Finally, JMP Securities raised shares of Model N from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Model N presently has an average rating of “Buy” and a consensus target price of $19.25.
In other Model N news, SVP Mark Albert Anderson sold 10,153 shares of Model N stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $16.65, for a total value of $169,047.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Neeraj Gokhale sold 1,628 shares of Model N stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $16.94, for a total transaction of $27,578.32. Following the completion of the transaction, the senior vice president now directly owns 81,389 shares in the company, valued at approximately $1,378,729.66. The disclosure for this sale can be found here. 18.90% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Gradient Investments LLC lifted its stake in Model N by 23.1% in the fourth quarter. Gradient Investments LLC now owns 29,715 shares of the software maker’s stock valued at $468,000 after buying an additional 5,575 shares in the last quarter. Lyon Street Capital LLC lifted its stake in Model N by 15.5% in the fourth quarter. Lyon Street Capital LLC now owns 666,277 shares of the software maker’s stock valued at $10,494,000 after buying an additional 89,492 shares in the last quarter. Citadel Advisors LLC bought a new position in Model N in the third quarter valued at approximately $352,000. Russell Investments Group Ltd. lifted its stake in Model N by 22.7% in the third quarter. Russell Investments Group Ltd. now owns 64,322 shares of the software maker’s stock valued at $962,000 after buying an additional 11,915 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Model N by 62.1% in the fourth quarter. Renaissance Technologies LLC now owns 911,700 shares of the software maker’s stock valued at $14,359,000 after buying an additional 349,300 shares in the last quarter. 62.71% of the stock is currently owned by hedge funds and other institutional investors.
Model N stock traded down $0.10 during midday trading on Friday, hitting $17.60. 103,426 shares of the stock were exchanged, compared to its average volume of 241,826. Model N has a 52 week low of $10.00 and a 52 week high of $18.90. The firm has a market capitalization of $510.06, a price-to-earnings ratio of -21.27 and a beta of 0.80. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.15 and a quick ratio of 1.15.
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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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