Look At Analyst Expectations For A Better Read On Model N Inc. (NYSE: MODN)


    Renaissance Technologies LLC recently announced the acquisition of new stake in Model N Inc. (NYSE:MODN). The institutional investor has increased its shareholding in the Technology company by 13.72% to 2.4 million shares with purchase of 0.29 million shares. This fresh investment now brings its stake to 7.00% valued currently at $83.37 million. In addition, BlackRock Fund Advisors raised its holdings by 29336.0 to 2.22 million shares. And Neuberger Berman Investment Advis. has lifted its position by 32.94% or 0.5 million shares – to 2.03 million shares.

    With over 0.26 million Model N Inc. (MODN) shares trading Friday and a closing price of $35.16 on the day, the dollar volume was approximately $9.1 million. The shares have shown a negative weekly performance of -9.40% and its price on 07/17/20 gained nearly 3.99%. Currently, there are 33.79M common shares owned by the public and among those 28.14M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for MODN have a consensus price objective of $36.57. The analysts have set the share’s price value over the next 12 months at a high of $40.00 and a low of $34.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Model N Inc. stock is 1.90 for the next 12 months. The average price target is -2.27% below its last price level and a downside to the estimated low will see the stock lose -3.41% over that period. But an upside of 12.1% will see the stock hit the forecast high price target while mean target price for the stock is $36.00.

    Insiders at the company have transacted a total of 106 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 35 of these insider trades were purchases, accounting for 430,069 shares. Insider sales of the common stock occurred on 71 occasions, with total insider shares sold totaling 201,405 shares.

    The top 3 mutual fund holders in Model N Inc. are Alger Funds – Small Cap Focus Fun, Neuberger Berman Genesis Fund, and Artisan International Small-Mid F. Alger Funds – Small Cap Focus Fun owns 1.73 million shares of the company’s stock, all valued at over $60.02 million. Neuberger Berman Genesis Fund bought 0.34 million shares to see its total holdings expand to 1.41 million shares valued at over $49.09 million and representing 4.12% of the shares outstanding. Artisan International Small-Mid F bought 79941.0 shares to bring its total holdings to over 0.85 million shares at a value of $29.56 million. Artisan International Small-Mid F now owns shares totaling to 2.48% of the shares outstanding.

    Shares of Model N Inc. (NYSE: MODN) opened at $33.89, up $0.08 from a prior closing price of $33.81. However, the script later closed the day at $35.16, up 3.99%. The company’s stock has a 5-day price change of -9.40% and 37.99% over the past three months. MODN shares are trading 0.26% year to date (YTD), with the 12-month market performance up to 71.60% higher. It has a 12-month low price of $15.00 and touched a high of $39.65 over the same period. Currently, 0.26 million shares have been traded, compared to an average intraday trading volume of 535.19K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.95%, 6.37%, and 17.07% respectively.

    Institutional ownership of Model N Inc. (NYSE: MODN) shares accounts for 85.20% of the company’s 33.79M shares outstanding. Mutual fund holders own 40.16%, while other institutional holders and individual stakeholders account for 41.68% and 36.81% respectively.

    It has a market capitalization of $1.16B and a beta (3y monthly) value of 1.02. The earnings-per-share (ttm) stands at -$0.49. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.06% over the week and 4.04% over the month.

    Analysts forecast that Model N Inc. (MODN) will achieve an EPS of $0.06 for the current quarter, $0.04 for the next quarter and $0.34 for 2021. The lowest estimate earnings-per-share for the quarter is $0.05 while analysts give the company a high EPS estimate of $0.07. Comparatively, EPS for the current quarter was $0.06 a year ago. Earnings per share for the fiscal year are expected to decrease by -438.00%, and 17.81% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Model N Inc. (MODN) as a “Strong Buy” at a consensus score of 1.90. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 2 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the MODN, a number of firms have released research notes about the stock. SunTrust stated their Buy rating for the stock in a research note on April 29, 2020, with the firm’s price target at $32. BTIG Research coverage for the Model N Inc. (MODN) stock in a research note released on April 16, 2020 offered a Neutral rating with a price target of. Robert W. Baird was of a view on February 19, 2020 that the stock is Outperform, while JP Morgan gave the stock Overweight rating on December 12, 2019, issuing a price target of $36. Dougherty & Company on their part issued Buy rating on September 23, 2019.


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