Zacks: Analysts Anticipate Model N Inc (NYSE:MODN) Will Post Quarterly Sales of $39.48 Million

Brokerages expect Model N Inc (NYSE:MODN) to announce sales of $39.48 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Model N’s earnings, with the highest sales estimate coming in at $39.67 million and the lowest estimate coming in at $39.00 million. Model N reported sales of $34.71 million during the same quarter last year, which indicates a positive year over year growth rate of 13.7%. The business is scheduled to issue its next quarterly earnings results on Tuesday, August 4th.

On average, analysts expect that Model N will report full year sales of $154.95 million for the current fiscal year, with estimates ranging from $153.73 million to $155.67 million. For the next financial year, analysts expect that the business will report sales of $169.85 million, with estimates ranging from $164.90 million to $175.58 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Model N.

Model N (NYSE:MODN) last announced its earnings results on Tuesday, May 5th. The software maker reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. Model N had a negative net margin of 10.88% and a negative return on equity of 19.69%. The firm had revenue of $39.90 million during the quarter, compared to the consensus estimate of $38.41 million. During the same quarter in the previous year, the company posted $0.01 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis.

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Model N from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. BTIG Research initiated coverage on shares of Model N in a research note on Thursday, April 16th. They set a “neutral” rating for the company. Oppenheimer reaffirmed a “buy” rating and set a $33.00 price objective on shares of Model N in a research note on Wednesday, May 6th. SunTrust Banks upped their price objective on shares of Model N from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Needham & Company LLC initiated coverage on shares of Model N in a research note on Tuesday, May 26th. They set a “buy” rating and a $34.00 price objective for the company. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Model N presently has a consensus rating of “Buy” and a consensus price target of $31.88.

In other Model N news, SVP Christopher Lyon sold 4,281 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $32.55, for a total value of $139,346.55. Following the sale, the senior vice president now directly owns 103,347 shares of the company’s stock, valued at $3,363,944.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Melissa B. Fisher sold 10,000 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $35.01, for a total value of $350,100.00. Following the completion of the sale, the director now directly owns 37,609 shares in the company, valued at $1,316,691.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,919 shares of company stock worth $1,258,863. Corporate insiders own 1.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of MODN. HighMark Wealth Management LLC purchased a new stake in Model N in the 4th quarter worth about $30,000. Solstein Capital LLC acquired a new stake in Model N in the 4th quarter valued at approximately $41,000. Great West Life Assurance Co. Can acquired a new stake in Model N in the 4th quarter valued at approximately $56,000. Gagnon Securities LLC acquired a new stake in Model N in the 4th quarter valued at approximately $202,000. Finally, Amalgamated Bank acquired a new stake in Model N in the 4th quarter valued at approximately $220,000. 81.37% of the stock is currently owned by hedge funds and other institutional investors.

MODN stock traded up $2.35 during trading on Tuesday, hitting $38.21. The stock had a trading volume of 839,461 shares, compared to its average volume of 387,521. The company’s 50 day moving average price is $31.62 and its two-hundred day moving average price is $29.82. Model N has a 1-year low of $15.00 and a 1-year high of $38.73. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -77.98 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.41 and a current ratio of 1.41.

About Model N

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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