UPDATE: J.P. Morgan Initiates Coverage on Model N with Overweight Rating, $25 PT on Improved Customer/Growth Margins

In a report published Monday, J.P. Morgan analyst Sterling Auty initiated coverage on Model N MODN with an Overweight rating and $25.00 price target. In the report, Auty noted, “Initiating coverage of Model N with an Overweight rating and a $25 price target. The company has developed a solution to help automate a critical segment of the sales process that sits between the Sales Force Automation (SFA)/CRM tools and accounting suites. These tasks have predominantly been done manually with Excel spreadsheets and in-house developed applications. Model N provides software both on-premise and through SaaS (Software-as-a-Service) to manage these revenue processes with deep expertise in two industries – Life Sciences and High Tech. We see this as a large opportunity that can provide sustainable 20%+ growth, making the stock attractive at these levels, in our opinion.” Model N closed on Friday at $20.54.
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Posted In: Analyst ColorInitiationAnalyst RatingsJ.P. Morgan
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