Q2 2024 EPS Estimates for Model N, Inc. (NYSE:MODN) Raised by Analyst

Posted by Defense World Staff on Aug 27th, 2023

Model N, Inc. (NYSE:MODN – Free Report) – Research analysts at Zacks Research increased their Q2 2024 earnings per share (EPS) estimates for Model N in a research report issued on Tuesday, August 22nd. Zacks Research analyst S. Bose now expects that the software maker will post earnings per share of $0.00 for the quarter, up from their prior forecast of ($0.01). The consensus estimate for Model N’s current full-year earnings is $0.02 per share. Zacks Research also issued estimates for Model N’s Q2 2025 earnings at $0.04 EPS.

A number of other research firms also recently issued reports on MODN. Craig Hallum dropped their price target on Model N from $38.00 to $33.00 in a research report on Wednesday, August 9th. Jefferies Financial Group cut their price target on Model N from $40.00 to $36.00 in a research note on Tuesday, August 8th. Robert W. Baird cut their price target on Model N from $40.00 to $35.00 in a research note on Wednesday, August 9th. JMP Securities cut their price target on Model N from $48.00 to $44.00 in a research note on Wednesday, May 10th. Finally, The Goldman Sachs Group assumed coverage on Model N in a research note on Thursday, July 6th. They issued a “buy” rating and a $45.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Model N currently has an average rating of “Moderate Buy” and an average price target of $39.30.

Read Our Latest Analysis on Model N

Model N Stock Performance

MODN stock opened at $27.21 on Friday. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 2.70. The business’s fifty day simple moving average is $32.50 and its two-hundred day simple moving average is $32.45. Model N has a twelve month low of $26.66 and a twelve month high of $43.18. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -23.87 and a beta of 0.69.

Institutional Trading of Model N

A number of hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in Model N by 35.0% during the third quarter. Tower Research Capital LLC TRC now owns 1,664 shares of the software maker’s stock worth $57,000 after acquiring an additional 431 shares during the period. Altshuler Shaham Ltd raised its position in Model N by 79.2% during the fourth quarter. Altshuler Shaham Ltd now owns 1,572 shares of the software maker’s stock worth $64,000 after acquiring an additional 695 shares during the period. Fifth Third Bancorp raised its position in Model N by 12.1% during the second quarter. Fifth Third Bancorp now owns 3,514 shares of the software maker’s stock worth $124,000 after acquiring an additional 378 shares during the period. PNC Financial Services Group Inc. raised its position in 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 acquiring an additional 588 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Model N by 67.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,539 shares of the software maker’s stock worth $142,000 after acquiring an additional 2,231 shares during the period.

Insiders Place Their Bets

In other news, CEO Jason Blessing sold 9,609 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $27.97, for a total value of $268,763.73. Following the sale, the chief executive officer now directly owns 674,190 shares of the company’s stock, valued at approximately $18,857,094.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Jason Blessing sold 9,609 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $27.97, for a total value of $268,763.73. Following the sale, the chief executive officer now directly owns 674,190 shares of the company’s stock, valued at approximately $18,857,094.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John Ederer sold 3,237 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $27.97, for a total transaction of $90,538.89. Following the completion of the sale, the chief financial officer now directly owns 159,201 shares in the company, valued at $4,452,851.97. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,885 shares of company stock valued at $893,793. Insiders own 2.30% of the company’s stock.

Model N Company Profile

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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 on a timely basis and at correct rates for government Medicaid programs, as well as Validata, State Pricing Transparency Management, Advanced Membership Management, and Intelligence Cloud.