Zacks: Brokerages Anticipate Model N, Inc. (NYSE:MODN) Will Announce Quarterly Sales of $54.78 Million

Analysts expect Model N, Inc. (NYSE:MODNGet Rating) to post sales of $54.78 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Model N’s earnings, with the lowest sales estimate coming in at $54.75 million and the highest estimate coming in at $54.81 million. Model N posted sales of $51.04 million during the same quarter last year, which suggests a positive year over year growth rate of 7.3%. The business is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Model N will report full year sales of $215.63 million for the current year, with estimates ranging from $214.85 million to $216.04 million. For the next fiscal year, analysts forecast that the business will report sales of $241.67 million, with estimates ranging from $240.75 million to $242.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Model N.

Model N (NYSE:MODNGet Rating) last released its earnings results on Tuesday, May 10th. The software maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.07 by $0.07. Model N had a negative return on equity of 7.58% and a negative net margin of 13.60%. The business had revenue of $53.30 million for the quarter, compared to the consensus estimate of $51.23 million. During the same period in the previous year, the company posted ($0.17) earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year.

Several equities research analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $34.00 target price on shares of Model N in a report on Friday, March 25th. BTIG Research lowered their price target on Model N from $48.00 to $38.00 in a report on Wednesday, May 11th. Craig Hallum lowered their price target on Model N from $39.00 to $29.00 in a report on Wednesday, May 11th. TheStreet downgraded Model N from a “c-” rating to a “d+” rating in a report on Thursday, February 3rd. Finally, StockNews.com raised Model N from a “hold” rating to a “buy” rating in a report on Monday, May 16th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $36.80.

In other Model N news, CEO Jason Blessing sold 12,365 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $23.61, for a total value of $291,937.65. Following the completion of the sale, the chief executive officer now owns 576,168 shares in the company, valued at $13,603,326.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO John Ederer sold 1,135 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $23.61, for a total value of $26,797.35. Following the completion of the sale, the chief financial officer now owns 120,800 shares of the company’s stock, valued at approximately $2,852,088. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,166 shares of company stock valued at $565,492. 2.00% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Byrne Asset Management LLC increased its position in Model N by 76.7% in the first quarter. Byrne Asset Management LLC now owns 961 shares of the software maker’s stock worth $26,000 after buying an additional 417 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of Model N during the first quarter worth about $27,000. Nisa Investment Advisors LLC purchased a new stake in shares of Model N during the first quarter worth about $54,000. Fifth Third Bancorp grew its position in shares of Model N by 23.1% during the fourth quarter. Fifth Third Bancorp now owns 4,006 shares of the software maker’s stock worth $120,000 after purchasing an additional 753 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Model N by 13.1% during the first quarter. PNC Financial Services Group Inc. now owns 5,080 shares of the software maker’s stock worth $136,000 after purchasing an additional 588 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Model N stock opened at $22.34 on Thursday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.98. The business’s fifty day simple moving average is $25.47 and its two-hundred day simple moving average is $26.92. Model N has a 12 month low of $20.95 and a 12 month high of $39.99. The company has a market capitalization of $822.65 million, a price-to-earnings ratio of -28.64 and a beta of 0.94.

About Model N (Get Rating)

Model N, Inc provides cloud revenue management solutions for life sciences and high-tech companies. The company offers Global Pricing Management, which minimizes price erosion of products; Global Tender Management that enhances revenue by enabling segmentation and targeting, optimal bid pricing, and post-award tracking; Provider Management, which minimizes rebate overpayments; Payer Management that minimizes revenue leakage and noncompliance of complex contracts; Government Pricing, which optimizes revenue, and reduces the risk of fines and other penalties; and Medicaid that enhances compliance with regulatory requirements and payments of rebate claims timely, as well as at correct rates for government medicaid programs.

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