JMP Securities Reaffirms Their Buy Rating on Model N (MODN)

By Carrie Williams

In a report issued on August 28, Patrick Walravens from JMP Securities reiterated a Buy rating on Model N (NYSE: MODN), with a price target of $25. The company’s shares closed on Friday at $17.

According to TipRanks.com, Walravens is a 5-star analyst with an average return of 20.2% and a 73.1% success rate. Walravens covers the Technology sector, focusing on stocks such as Ultimate Software, Salesforce.com, and Veeva Systems.

Currently, the analyst consensus on Model N is a Moderate Buy with an average price target of $24.

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Based on Model N’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $15.44 million. In comparison, last year the company had a GAAP net loss of $10.44 million.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock.

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Model N, Inc. engages in the provision of revenue management cloud solutions for the life science and technology industries. It solutions include two complementary suites of software applications: Revenue Management Enterprise and Revenue Management Intelligence.