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Fly News Breaks for August 7, 2019
MODN
Aug 7, 2019 | 06:37 EDT
JMP Securities analyst Patrick Walravens raised his price target on Model N to $29 and kept his Outperform rating after it Q3 earnings beat and above-consensus outlook for Q4. The analyst is positive on the company's focus on the life sciences and technology verticals, its "sales engine" under the new leadership, underpenetrated markets, expectations of return to growth in Q1, and "compelling" valuation of enterprise value to expected revenue multiple of 4.7-times - a discount to the peer group mean of 7.7-times.
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