Zacks: Brokerages Expect Model N Inc (MODN) Will Announce Quarterly Sales of $34.52 Million

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Wall Street brokerages expect Model N Inc (NYSE:MODN) to post sales of $34.52 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Model N’s earnings. The lowest sales estimate is $34.41 million and the highest is $34.64 million. Model N posted sales of $39.23 million in the same quarter last year, which would indicate a negative year over year growth rate of 12%. The firm is expected to report its next earnings results on Tuesday, May 14th.

On average, analysts expect that Model N will report full year sales of $140.07 million for the current financial year, with estimates ranging from $138.05 million to $141.90 million. For the next financial year, analysts forecast that the firm will report sales of $155.56 million, with estimates ranging from $152.48 million to $158.48 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Model N.

Model N (NYSE:MODN) last posted its quarterly earnings data on Tuesday, February 5th. The software maker reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.15. Model N had a negative net margin of 18.37% and a negative return on equity of 51.86%. The company had revenue of $35.08 million during the quarter, compared to analyst estimates of $34.21 million. During the same period in the prior year, the firm earned ($0.03) earnings per share. The business’s quarterly revenue was down 10.2% on a year-over-year basis.

A number of analysts have commented on the stock. Zacks Investment Research lowered shares of Model N from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. ValuEngine raised shares of Model N from a “hold” rating to a “buy” rating in a research note on Tuesday, January 15th. Craig Hallum reduced their price objective on shares of Model N from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, November 7th. Needham & Company LLC lowered shares of Model N from a “buy” rating to a “hold” rating in a research note on Wednesday, November 7th. Finally, CIBC assumed coverage on shares of Model N in a research note on Friday, October 19th. They set an “outperform” rating for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Model N currently has an average rating of “Buy” and a consensus price target of $21.71.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Model N by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 96,115 shares of the software maker’s stock worth $1,271,000 after purchasing an additional 682 shares in the last quarter. Citigroup Inc. lifted its position in shares of Model N by 43.6% in the fourth quarter. Citigroup Inc. now owns 11,218 shares of the software maker’s stock worth $148,000 after purchasing an additional 3,406 shares in the last quarter. Suffolk Capital Management LLC increased its holdings in Model N by 7.0% in the third quarter. Suffolk Capital Management LLC now owns 55,697 shares of the software maker’s stock worth $883,000 after buying an additional 3,653 shares during the last quarter. Algert Global LLC increased its holdings in Model N by 10.3% in the third quarter. Algert Global LLC now owns 46,725 shares of the software maker’s stock worth $741,000 after buying an additional 4,365 shares during the last quarter. Finally, Essex Investment Management Co. LLC increased its holdings in Model N by 3.2% in the third quarter. Essex Investment Management Co. LLC now owns 146,347 shares of the software maker’s stock worth $2,320,000 after buying an additional 4,573 shares during the last quarter. 71.36% of the stock is owned by institutional investors and hedge funds.

MODN stock opened at $16.93 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.03. Model N has a one year low of $12.60 and a one year high of $20.33. The stock has a market cap of $529.24 million, a price-to-earnings ratio of -23.19 and a beta of 0.57.

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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