Model N on Dec. 29 announced that John Ederer would become the CFO effective Jan. 1. Shares of the cloud-based revenue management solutions company fell 1.5 at the close on Tuesday.
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Ederer would be responsible for every aspect of financial management including accounting and SEC reporting, internal audit and controls, financial planning and analysis, and treasury and investor relations.
Ederer will be a member of the company’s executive leadership team to help shape and guide the company’s strategic direction.
“He will be a key contributor as we shape the company’s future and enter the next stage of growth in 2021 and beyond,” said Model N (MODN) CEO Jason Blessing.
The appointment comes after Model N on Oct. 8 announced the resignation of David Barter as its CFO.
Raymond James analyst Brian Peterson reiterated a Hold rating on the stock on Dec. 17.
From the rest of the Street, the stock scores an analyst consensus of a Hold based on 1 Buy, 2 Holds, and 1 Sell. (See MODN stock analysis on TipRanks)
The average analyst price target of $37.33 implies upside potential of 4.6% to current levels. Shares have gained close to 2% year-to-date.
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