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Fly News Breaks for November 6, 2019
MODN
Nov 6, 2019 | 09:36 EDT
Needham analyst Ryan MacDonald raised his price target on Model N to $34 and kept his Buy rating after its "strong" close to FY19 with a beat on Q4 earnings and revenues. The analyst notes that the new management drove "improved execution across the organization" while migrating the company's legacy customers to the cloud. MacDonald added that he is positive in Model N's ability to grow sales by 10% amid net new customer wins, existing customer expansion, and further cloud migrations.
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