Model N (MODN) Announces Earnings Results, Beats Estimates By $0.05 EPS

Model N (NYSE:MODN) posted its quarterly earnings results on Tuesday. The software maker reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.05, Morningstar.com reports. The business had revenue of $36.70 million during the quarter, compared to the consensus estimate of $35.49 million. Model N had a negative return on equity of 61.62% and a negative net margin of 21.89%. Model N’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.06) earnings per share.

NYSE MODN traded down $1.53 during trading on Wednesday, hitting $13.42. 939,676 shares of the company’s stock were exchanged, compared to its average volume of 231,766. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.37. The company has a market cap of $472.51 million, a price-to-earnings ratio of -16.17 and a beta of 0.77. Model N has a fifty-two week low of $12.60 and a fifty-two week high of $20.33.

A number of hedge funds and other institutional investors have recently modified their holdings of MODN. BlackRock Inc. raised its stake in Model N by 30.6% during the first 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 in the last quarter. JPMorgan Chase & Co. raised its stake in Model N by 1,072.5% during the first quarter. JPMorgan Chase & Co. now owns 96,533 shares of the software maker’s stock worth $1,742,000 after acquiring an additional 88,300 shares in the last quarter. Barclays PLC raised its stake in Model N by 153.5% during the first quarter. Barclays PLC now owns 9,550 shares of the software maker’s stock worth $171,000 after acquiring an additional 5,783 shares in the last quarter. Allianz Asset Management GmbH raised its stake in Model N by 14.6% during the first quarter. Allianz Asset Management GmbH now owns 358,488 shares of the software maker’s stock worth $6,471,000 after acquiring an additional 45,666 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. acquired a new position in Model N during the second quarter worth about $372,000. 71.47% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently commented on MODN. Craig Hallum reaffirmed a “buy” rating and issued a $20.00 price target (down previously from $25.00) on shares of Model N in a research note on Wednesday. Needham & Company LLC downgraded Model N from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine downgraded Model N from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. CIBC began coverage on Model N in a research note on Friday, October 19th. They issued an “outperform” rating for the company. Finally, Oppenheimer began coverage on Model N in a research note on Friday, October 19th. They issued an “outperform” rating and a $23.00 price target for the company. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $22.29.

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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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Earnings History for Model N (NYSE:MODN)

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