Intrinsic value of Model N - MODN

Previous Close

$16.95

  Intrinsic Value

$0.02

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  Rating & Target

str. sell

-100%

Previous close

$16.95

 
Intrinsic value

$0.02

 
Up/down potential

-100%

 
Rating

str. sell

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of MODN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

Please visit our new site that uses elements of artificial intelligence for stock valuation: artificial intelligence value of Model N (MODN) stock.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  22.43
  24.10
  22.19
  20.47
  18.92
  17.53
  16.28
  15.15
  14.14
  13.22
  12.40
  11.66
  10.99
  10.39
  9.85
  9.37
  8.93
  8.54
  8.19
  7.87
  7.58
  7.32
  7.09
  6.88
  6.69
  6.52
  6.37
  6.23
  6.11
  6.00
  5.90
Revenue, $m
  131
  163
  199
  239
  285
  334
  389
  448
  511
  579
  651
  726
  806
  890
  978
  1,069
  1,165
  1,264
  1,368
  1,475
  1,587
  1,704
  1,824
  1,950
  2,080
  2,216
  2,357
  2,504
  2,657
  2,817
  2,983
Variable operating expenses, $m
 
  203
  247
  296
  352
  413
  479
  551
  629
  711
  799
  888
  985
  1,088
  1,195
  1,307
  1,424
  1,545
  1,672
  1,803
  1,940
  2,082
  2,230
  2,383
  2,543
  2,708
  2,881
  3,061
  3,248
  3,443
  3,646
Fixed operating expenses, $m
 
  6
  6
  6
  7
  7
  7
  7
  7
  7
  8
  8
  8
  8
  8
  9
  9
  9
  9
  10
  10
  10
  10
  11
  11
  11
  11
  12
  12
  12
  13
Total operating expenses, $m
  170
  209
  253
  302
  359
  420
  486
  558
  636
  718
  807
  896
  993
  1,096
  1,203
  1,316
  1,433
  1,554
  1,681
  1,813
  1,950
  2,092
  2,240
  2,394
  2,554
  2,719
  2,892
  3,073
  3,260
  3,455
  3,659
Operating income, $m
  -39
  -46
  -54
  -64
  -74
  -85
  -97
  -111
  -125
  -140
  -156
  -169
  -187
  -206
  -226
  -246
  -268
  -290
  -313
  -337
  -363
  -389
  -416
  -444
  -473
  -504
  -535
  -568
  -602
  -638
  -675
EBITDA, $m
  -31
  -37
  -44
  -52
  -60
  -70
  -80
  -92
  -104
  -117
  -130
  -145
  -160
  -176
  -193
  -211
  -229
  -248
  -268
  -288
  -309
  -332
  -355
  -379
  -404
  -429
  -456
  -484
  -514
  -544
  -576
Interest expense (income), $m
  3
  5
  6
  9
  12
  16
  20
  24
  29
  34
  40
  46
  52
  59
  65
  73
  80
  88
  96
  105
  114
  123
  132
  142
  153
  163
  174
  186
  198
  211
  224
Earnings before tax, $m
  -43
  -52
  -60
  -72
  -86
  -101
  -117
  -135
  -154
  -174
  -196
  -215
  -239
  -265
  -291
  -319
  -348
  -378
  -410
  -442
  -476
  -511
  -548
  -586
  -626
  -667
  -710
  -754
  -801
  -849
  -899
Tax expense, $m
  -3
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -40
  -52
  -60
  -72
  -86
  -101
  -117
  -135
  -154
  -174
  -196
  -215
  -239
  -265
  -291
  -319
  -348
  -378
  -410
  -442
  -476
  -511
  -548
  -586
  -626
  -667
  -710
  -754
  -801
  -849
  -899

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  58
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  172
  141
  173
  208
  248
  291
  339
  390
  445
  504
  566
  632
  702
  775
  851
  931
  1,014
  1,100
  1,190
  1,284
  1,381
  1,483
  1,588
  1,697
  1,811
  1,929
  2,052
  2,179
  2,313
  2,451
  2,596
Adjusted assets (=assets-cash), $m
  114
  141
  173
  208
  248
  291
  339
  390
  445
  504
  566
  632
  702
  775
  851
  931
  1,014
  1,100
  1,190
  1,284
  1,381
  1,483
  1,588
  1,697
  1,811
  1,929
  2,052
  2,179
  2,313
  2,451
  2,596
Revenue / Adjusted assets
  1.149
  1.156
  1.150
  1.149
  1.149
  1.148
  1.147
  1.149
  1.148
  1.149
  1.150
  1.149
  1.148
  1.148
  1.149
  1.148
  1.149
  1.149
  1.150
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
Average production assets, $m
  28
  35
  43
  51
  61
  72
  83
  96
  109
  124
  139
  155
  173
  190
  209
  229
  249
  271
  293
  316
  340
  365
  390
  417
  445
  474
  504
  536
  569
  603
  638
Working capital, $m
  10
  -53
  -65
  -78
  -93
  -110
  -128
  -147
  -168
  -190
  -213
  -238
  -264
  -292
  -321
  -351
  -382
  -415
  -449
  -484
  -521
  -559
  -598
  -640
  -682
  -727
  -773
  -821
  -872
  -924
  -978
Total debt, $m
  57
  53
  82
  113
  149
  188
  231
  277
  326
  379
  436
  495
  558
  623
  692
  764
  838
  916
  997
  1,082
  1,169
  1,260
  1,355
  1,453
  1,555
  1,662
  1,772
  1,887
  2,007
  2,132
  2,262
Total liabilities, $m
  131
  127
  156
  187
  223
  262
  305
  351
  400
  453
  510
  569
  632
  697
  766
  838
  912
  990
  1,071
  1,156
  1,243
  1,334
  1,429
  1,527
  1,629
  1,736
  1,846
  1,961
  2,081
  2,206
  2,336
Total equity, $m
  41
  14
  17
  21
  25
  29
  34
  39
  44
  50
  57
  63
  70
  77
  85
  93
  101
  110
  119
  128
  138
  148
  159
  170
  181
  193
  205
  218
  231
  245
  260
Total liabilities and equity, $m
  172
  141
  173
  208
  248
  291
  339
  390
  444
  503
  567
  632
  702
  774
  851
  931
  1,013
  1,100
  1,190
  1,284
  1,381
  1,482
  1,588
  1,697
  1,810
  1,929
  2,051
  2,179
  2,312
  2,451
  2,596
Debt-to-equity ratio
  1.390
  3.770
  4.720
  5.450
  6.010
  6.460
  6.810
  7.100
  7.340
  7.530
  7.690
  7.830
  7.950
  8.040
  8.130
  8.200
  8.270
  8.330
  8.380
  8.420
  8.460
  8.500
  8.530
  8.560
  8.590
  8.620
  8.640
  8.660
  8.680
  8.700
  8.710
Adjusted equity ratio
  -0.105
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -40
  -52
  -60
  -72
  -86
  -101
  -117
  -135
  -154
  -174
  -196
  -215
  -239
  -265
  -291
  -319
  -348
  -378
  -410
  -442
  -476
  -511
  -548
  -586
  -626
  -667
  -710
  -754
  -801
  -849
  -899
Depreciation, amort., depletion, $m
  8
  9
  11
  12
  13
  15
  17
  19
  21
  23
  26
  24
  27
  30
  33
  36
  39
  42
  46
  49
  53
  57
  61
  65
  70
  74
  79
  84
  89
  94
  100
Funds from operations, $m
  -2
  -42
  -49
  -60
  -72
  -86
  -100
  -116
  -133
  -151
  -170
  -191
  -212
  -235
  -259
  -283
  -309
  -336
  -364
  -393
  -423
  -454
  -487
  -521
  -556
  -593
  -631
  -671
  -712
  -755
  -800
Change in working capital, $m
  10
  -10
  -12
  -13
  -15
  -16
  -18
  -19
  -21
  -22
  -24
  -25
  -26
  -27
  -29
  -30
  -31
  -33
  -34
  -35
  -37
  -38
  -40
  -41
  -43
  -45
  -46
  -48
  -50
  -52
  -55
Cash from operations, $m
  -12
  -32
  -38
  -47
  -57
  -69
  -82
  -97
  -112
  -129
  -147
  -166
  -186
  -207
  -230
  -253
  -278
  -303
  -330
  -358
  -386
  -416
  -447
  -480
  -513
  -548
  -585
  -622
  -662
  -703
  -745
Maintenance CAPEX, $m
  0
  -4
  -5
  -7
  -8
  -10
  -11
  -13
  -15
  -17
  -19
  -22
  -24
  -27
  -30
  -33
  -36
  -39
  -42
  -46
  -49
  -53
  -57
  -61
  -65
  -70
  -74
  -79
  -84
  -89
  -94
New CAPEX, $m
  -1
  -7
  -8
  -9
  -10
  -11
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -33
  -34
  -36
Cash from investing activities, $m
  -49
  -11
  -13
  -16
  -18
  -21
  -23
  -26
  -29
  -31
  -34
  -38
  -41
  -45
  -49
  -53
  -56
  -60
  -64
  -69
  -73
  -78
  -83
  -88
  -93
  -99
  -104
  -110
  -117
  -123
  -130
Free cash flow, $m
  -61
  -43
  -51
  -62
  -75
  -89
  -105
  -122
  -141
  -160
  -181
  -204
  -227
  -252
  -278
  -305
  -334
  -363
  -394
  -426
  -460
  -494
  -530
  -568
  -607
  -647
  -689
  -733
  -778
  -825
  -875
Issuance/(repayment) of debt, $m
  49
  1
  28
  32
  35
  39
  43
  46
  50
  53
  56
  59
  63
  66
  69
  72
  75
  78
  81
  84
  88
  91
  95
  98
  102
  106
  111
  115
  120
  125
  130
Issuance/(repurchase) of shares, $m
  4
  78
  63
  76
  90
  105
  122
  140
  159
  180
  202
  222
  246
  272
  299
  327
  356
  387
  419
  452
  486
  522
  559
  597
  637
  679
  722
  767
  814
  863
  914
Cash from financing (excl. dividends), $m  
  52
  79
  91
  108
  125
  144
  165
  186
  209
  233
  258
  281
  309
  338
  368
  399
  431
  465
  500
  536
  574
  613
  654
  695
  739
  785
  833
  882
  934
  988
  1,044
Total cash flow (excl. dividends), $m
  -9
  36
  41
  45
  50
  55
  59
  64
  68
  73
  77
  77
  81
  85
  89
  93
  97
  101
  105
  110
  114
  118
  123
  128
  133
  138
  144
  150
  156
  162
  169
Retained Cash Flow (-), $m
  25
  -78
  -63
  -76
  -90
  -105
  -122
  -140
  -159
  -180
  -202
  -222
  -246
  -272
  -299
  -327
  -356
  -387
  -419
  -452
  -486
  -522
  -559
  -597
  -637
  -679
  -722
  -767
  -814
  -863
  -914
Prev. year cash balance distribution, $m
 
  53
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  11
  -22
  -30
  -40
  -50
  -62
  -76
  -91
  -107
  -125
  -144
  -165
  -187
  -210
  -234
  -259
  -286
  -313
  -342
  -372
  -403
  -436
  -469
  -504
  -541
  -578
  -618
  -658
  -701
  -745
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  11
  -21
  -26
  -33
  -39
  -45
  -51
  -57
  -62
  -66
  -69
  -70
  -71
  -70
  -69
  -66
  -62
  -58
  -53
  -47
  -42
  -36
  -31
  -26
  -21
  -17
  -13
  -10
  -8
  -6
Current shareholders' claim on cash, %
  100
  50.0
  34.6
  24.1
  16.8
  11.8
  8.3
  5.9
  4.2
  3.0
  2.1
  1.5
  1.1
  0.8
  0.6
  0.4
  0.3
  0.2
  0.2
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Model N, Inc. is a provider of revenue management solutions for life science and technology companies. The Company's solutions enable its customers to maximize revenues and reduce revenue compliance risk by transforming their revenue life cycle from a series of tactical, disjointed operations into a strategic end-to-end process. The Company's solutions include Revenue Enterprise Cloud, Revenue Intelligence Cloud and Revvy Revenue Management. The Company provides solutions that span the organizational and operational boundaries of functions, such as sales, marketing and finance, and serve as a system of record for revenue management processes, including pricing, contracts, rebates, incentives and regulatory compliance. The Company's application suites are designed to work with enterprise resource planning (ERP) and customer relationship management (CRM) applications. The Company also offers implementation services, managed services, strategic services and customer support.

FINANCIAL RATIOS  of  Model N (MODN)

Valuation Ratios
P/E Ratio -12.4
Price to Sales 3.8
Price to Book 12.1
Price to Tangible Book
Price to Cash Flow -41.4
Price to Free Cash Flow -38.2
Growth Rates
Sales Growth Rate 22.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -66.7%
Cap. Spend. - 3 Yr. Gr. Rate -12.9%
Financial Strength
Quick Ratio 12
Current Ratio 0
LT Debt to Equity 126.8%
Total Debt to Equity 139%
Interest Coverage -13
Management Effectiveness
Return On Assets -26.1%
Ret/ On Assets - 3 Yr. Avg. -23.4%
Return On Total Capital -48.8%
Ret/ On T. Cap. - 3 Yr. Avg. -38.8%
Return On Equity -74.8%
Return On Equity - 3 Yr. Avg. -47.4%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 53.4%
Gross Margin - 3 Yr. Avg. 52.8%
EBITDA Margin -24.4%
EBITDA Margin - 3 Yr. Avg. -21.9%
Operating Margin -29.8%
Oper. Margin - 3 Yr. Avg. -26.9%
Pre-Tax Margin -32.8%
Pre-Tax Margin - 3 Yr. Avg. -28%
Net Profit Margin -30.5%
Net Profit Margin - 3 Yr. Avg. -27.6%
Effective Tax Rate 7%
Eff/ Tax Rate - 3 Yr. Avg. 0.6%
Payout Ratio 0%

MODN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MODN stock intrinsic value calculation we used $131 million for the last fiscal year's total revenue generated by Model N. The default revenue input number comes from 2017 income statement of Model N. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MODN stock valuation model: a) initial revenue growth rate of 24.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for MODN is calculated based on our internal credit rating of Model N, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Model N.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MODN stock the variable cost ratio is equal to 125.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $6 million in the base year in the intrinsic value calculation for MODN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 10.5% for Model N.

Corporate tax rate of 27% is the nominal tax rate for Model N. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MODN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MODN are equal to 21.4%.

Life of production assets of 6.4 years is the average useful life of capital assets used in Model N operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MODN is equal to -32.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $41 million for Model N - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 29.61 million for Model N is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Model N at the current share price and the inputted number of shares is $0.5 billion.

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COMPANY NEWS

▶ McKinsey's Head of Design to Keynote Model N Rainmaker 2018   [Feb-09-18 08:00AM  Business Wire]
▶ Model N reports 1Q loss   [Feb-06-18 06:45PM  Associated Press]
▶ Model N, Inc. to Host Earnings Call   [12:45PM  ACCESSWIRE]
▶ Model N to Present at the J.P. Morgan Healthcare Conference   [Jan-04-18 04:15PM  Business Wire]
▶ Is Model N Inc (NYSE:MODN) A Financially Sound Company?   [Jan-01-18 06:45PM  Simply Wall St.]
▶ ETFs with exposure to Model N, Inc. : December 13, 2017   [Dec-13-17 01:44PM  Capital Cube]
▶ ETFs with exposure to Model N, Inc. : December 1, 2017   [Dec-01-17 10:41AM  Capital Cube]
▶ ETFs with exposure to Model N, Inc. : November 20, 2017   [Nov-20-17 12:54PM  Capital Cube]
▶ Model N reports 4Q loss   [05:03AM  Associated Press]
▶ Model N, Inc. to Host Earnings Call   [12:50PM  ACCESSWIRE]
▶ Should You Buy Model N Inc (MODN)?   [Sep-11-17 05:15PM  Simply Wall St.]
▶ Model N reports 3Q loss   [Aug-08-17 09:29PM  Associated Press]
▶ Model N, Inc. Value Analysis (NYSE:MODN) : August 7, 2017   [Aug-07-17 06:12PM  Capital Cube]
▶ ETFs with exposure to Model N, Inc. : May 26, 2017   [May-26-17 01:17PM  Capital Cube]
▶ Model N to Present at J.P. Morgan Technology Conference   [May-17-17 04:15PM  Business Wire]
▶ ETFs with exposure to Model N, Inc. : May 15, 2017   [May-15-17 04:08PM  Capital Cube]
▶ Model N reports 2Q loss   [May-08-17 05:46PM  Associated Press]
▶ Model N to Present at Upcoming Investor Conferences   [Feb-23-17 04:15PM  Business Wire]
▶ Can The Uptrend Continue for Model N (MODN)?   [Feb-22-17 08:23AM  Zacks]
▶ 5 Breakout Stocks for Superior Returns   [Feb-10-17 08:49AM  Zacks]
▶ Model N reports 1Q loss   [Feb-06-17 04:38PM  AP]
▶ Model N to Present at J.P. Morgan Healthcare Conference   [Jan-09-17 04:15PM  Business Wire]
▶ Is Model N Inc (MODN) Worthy of Your Portfolio?   [Dec-14-16 05:51PM  at Insider Monkey]
▶ Model N Signs Definitive Agreement to Acquire Revitas   [Dec-12-16 05:28PM  Marketwired]
Financial statements of MODN
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