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MODN

Model N

$18.40

0.15 (0.82%)

20:06
08/07/18
08/07
20:06
08/07/18
20:06

Model N price target raised to $23 from $20 at JPMorgan

JPMorgan analyst Jackson Ader raised his price target on Model N to $23 after its Q3 earnings beat and raise for its FY18 guidance. The analyst notes the company overcame the headwinds in License and Implementation, adding that the CEO's view of "adequate" staffing heading into 2019 suggests that the company's outlook for profitability and growth remains intact. Ader also says he is encouraged that the company does not appear to plan for a spending spree, while pointing to the management's "nuanced" understanding of its end market. The analyst keeps his Neutral rating on Model N, noting that the company's valuation has recovered to trade "more in-line".

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MODN Model N
$18.40

0.15 (0.82%)

12/12/17
JPMS
12/12/17
DOWNGRADE
Target $18
JPMS
Neutral
Model N downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Sterling Auty downgraded Model N to Neutral with an unchanged price target of $18 in conjunction with his 2018 annual outlook for Software Technology. The analyst does not expect the "exceptional performance" in Software during 2017 to repeat in 2018. As such, he's moderating his bullish outlook into next year.
02/07/18
JMPS
02/07/18
UPGRADE
JMPS
Outperform
Model N upgraded to Outperform from Market Perform at JMP Securities
JMP Securities analyst Patrick Walravens upgraded Model N to Outperform with a $20 price target following the strong Q1 report and guidance. The analyst expects further share upside to be driven by economic benefits of an increasingly recurring model, completion of Revitas integration, making Model N a bigger player in a less crowded market, positive free cash flow next quarter and for the rest of the year, and improved profitability should provide the company options to refinance its $50M in term debt at a lower rate.
03/14/18
JPMS
03/14/18
NO CHANGE
Target $20
JPMS
Neutral
Model N price target raised to $20 at JPMorgan after investor day
JPMorgan analyst Jackson Ader raised his price target on Model N to $20 from $18 after the company's investor day provided some color around its near and long term opportunities. Ader notes the FY19 targets imply a recurring revenue growth of 15% and margins were ahead of his estimates. The analyst keeps his Neutral rating however, adding that the near-doubling of the stock price since late 2016 has brought valuation to appropriate levels, with further outperformance "harder to come by".
07/18/18
NEED
07/18/18
INITIATION
Target $23
NEED
Buy
Model N initiated with a Buy at Needham
Needham analyst Ryan MacDonald initiated Model N with a Buy and $23 price target saying it is the clear market leader in revenue management software in the Life Sciences vertical. MacDonald views Model N's discounted valuation as an attractive buying opportunity ahead the transition of on-premise customers and resulting revenue uplift, up-sell to existing base, and new customer adoption that will drive 15% sustainable revenue growth.

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