Model N saw its IBD SmartSelect Composite Rating rise to 96 Friday, up from 94 the day before.
The upgrade means the stock is now outperforming 96% of all other stocks in terms of key performance metrics and technical strength. Winning stocks often have a 95 or higher grade in the early stages of a new price run, so that's an important benchmark to look for when looking for the best stocks to buy and watch.
Model N is now out of buy range after clearing the 35.10 buy point in a cup without handle.
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The stock has a 95 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 95% of all stocks.
Its Accumulation/Distribution Rating of A shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.
The company reported an 11% earnings-per-share gain for Q4. Top line growth rose 13%, up from 10% in the prior report. That marks one quarter of accelerating revenue growth.
Model N earns the No. 1 rank among its peers in the Computer Software-Enterprise industry group. A10 Networks and Aspen Technology are also among the group's highest-rated stocks.
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