Model N (NYSE:MODN) Releases FY24 Earnings Guidance

Model N (NYSE:MODNGet Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.25-$1.32 for the period, compared to the consensus estimate of $1.31. The company issued revenue guidance of $260.5-$263.5 million, compared to the consensus revenue estimate of $262.11 million. Model N also updated its Q2 guidance to $0.24-$0.27 EPS.

Model N Stock Down 1.4 %

Shares of MODN traded down $0.39 on Tuesday, reaching $26.94. The stock had a trading volume of 220,101 shares, compared to its average volume of 270,744. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -30.16 and a beta of 0.74. The company has a debt-to-equity ratio of 2.43, a quick ratio of 4.11 and a current ratio of 4.11. The company has a 50-day simple moving average of $25.91 and a 200-day simple moving average of $26.18. Model N has a 12-month low of $20.90 and a 12-month high of $41.40.

Model N (NYSE:MODNGet Free Report) last released its earnings results on Thursday, November 9th. The software maker reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. The company had revenue of $63.97 million during the quarter, compared to analysts’ expectations of $62.17 million. Model N had a positive return on equity of 3.98% and a negative net margin of 13.60%. Sell-side analysts predict that Model N will post 0.2 EPS for the current year.

Wall Street Analyst Weigh In

MODN has been the topic of several analyst reports. Morgan Stanley dropped their target price on Model N from $40.00 to $37.00 and set an overweight rating on the stock in a report on Wednesday, November 15th. Royal Bank of Canada dropped their target price on Model N from $35.00 to $30.00 and set a sector perform rating on the stock in a report on Friday, November 10th. JMP Securities dropped their target price on Model N from $44.00 to $30.00 and set an outperform rating on the stock in a report on Friday, November 24th. JPMorgan Chase & Co. downgraded Model N from an overweight rating to a neutral rating and dropped their target price for the stock from $30.00 to $25.00 in a report on Wednesday, December 13th. Finally, StockNews.com downgraded Model N from a buy rating to a hold rating in a report on Sunday, November 12th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Model N currently has a consensus rating of Hold and a consensus price target of $34.64.

Read Our Latest Research Report on Model N

Insiders Place Their Bets

In other news, CRO Christopher Lyon sold 6,458 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $22.95, for a total value of $148,211.10. Following the completion of the transaction, the executive now owns 136,808 shares of the company’s stock, valued at $3,139,743.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CRO Christopher Lyon sold 6,458 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $22.95, for a total value of $148,211.10. Following the completion of the transaction, the executive now owns 136,808 shares of the company’s stock, valued at $3,139,743.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Albert Anderson sold 2,350 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $24.98, for a total value of $58,703.00. Following the transaction, the insider now directly owns 278,072 shares of the company’s stock, valued at $6,946,238.56. The disclosure for this sale can be found here. Insiders sold a total of 45,224 shares of company stock worth $1,051,499 over the last quarter. 2.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Model N

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of Model N by 13.2% in the 3rd quarter. BlackRock Inc. now owns 2,949,847 shares of the software maker’s stock valued at $100,973,000 after purchasing an additional 343,775 shares during the last quarter. First Light Asset Management LLC raised its holdings in shares of Model N by 6.2% in the first quarter. First Light Asset Management LLC now owns 2,707,143 shares of the software maker’s stock worth $72,822,000 after buying an additional 159,213 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Model N by 0.8% in the first quarter. Clearbridge Investments LLC now owns 2,304,058 shares of the software maker’s stock worth $61,979,000 after buying an additional 19,326 shares during the period. Vanguard Group Inc. raised its holdings in shares of Model N by 6.6% in the third quarter. Vanguard Group Inc. now owns 1,999,864 shares of the software maker’s stock worth $68,455,000 after buying an additional 123,878 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Model N by 5.0% in the first quarter. Renaissance Technologies LLC now owns 949,398 shares of the software maker’s stock worth $25,539,000 after buying an additional 44,872 shares during the period.

Model N Company Profile

(Get Free Report)

Model N, Inc provides cloud revenue management solutions for life sciences and high-tech companies in the United States and internationally. 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.

Read More

Earnings History and Estimates for Model N (NYSE:MODN)

Receive News & Ratings for Model N Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Model N and related companies with MarketBeat.com's FREE daily email newsletter.