In a report released yesterday, Brian Peterson from Raymond James reiterated a Hold rating on Model N (MODN). The company’s shares closed last Tuesday at $40.73, close to its 52-week high of $44.56.
According to TipRanks.com, Peterson is a top 100 analyst with an average return of 37.6% and a 79.9% success rate. Peterson covers the Technology sector, focusing on stocks such as Duck Creek Technologies, Manhattan Associates, and Upland Software.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Model N with a $47.00 average price target, a 18.6% upside from current levels. In a report released today, J.P. Morgan also upgraded the stock to Hold with a $40.00 price target.
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Based on Model N’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $41.46 million and GAAP net loss of $3.66 million. In comparison, last year the company earned revenue of $36.6 million and had a GAAP net loss of $5.66 million.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MODN in relation to earlier this year.
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Model N, Inc. engages in the provision of revenue management cloud solutions for the life science and technology industries. It solutions include two complementary suites of software applications: Revenue Management Enterprise and Revenue Management Intelligence. The Revenue Management Enterprise suite serves as the system of record for and automates the execution of revenue management processes such as pricing, contracting and incentive & rebate management. The Revenue Management Intelligence suite provides analytical insights to define and optimize revenue management strategies. Each of these suites consists of a number of applications, which can be purchased together or as separate stand-alone applications. The company was founded by Yarden Malka, Zack Rinat and Ali Tore on December 14, 1999 and is headquartered in San Mateo, CA.
