Model N price target raised to $46 from $39 at JMP Securities

JMP Securities analyst Joe Goodwin raised the firm’s price target on Model N to $46 from $39 and keeps an Outperform rating on the shares. The company’s Q4 results were "strong" as revenue growth accelerated to 13% from 10% in Q3, the analyst tells investors in a research note. Goodwin adds that Model N continues to execute well, evidenced by another quarter of acceleration in RPO and SaaS ARR growth.