MINDBODY (NASDAQ:MB) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.
Other research analysts have also recently issued reports about the company. KeyCorp reissued a “buy” rating and issued a $32.00 price target on shares of MINDBODY in a report on Sunday, October 22nd. Roth Capital reissued a “buy” rating and issued a $31.50 price target on shares of MINDBODY in a report on Thursday, September 28th. Zacks Investment Research raised MINDBODY from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Wednesday, September 27th. Jefferies Group raised MINDBODY from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Monday, January 8th. Finally, DA Davidson initiated coverage on MINDBODY in a report on Wednesday, November 15th. They issued a “buy” rating and a $42.00 price target on the stock. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $33.29.
MINDBODY (MB) opened at $34.35 on Wednesday. The company has a quick ratio of 9.20, a current ratio of 9.20 and a debt-to-equity ratio of 0.06. MINDBODY has a twelve month low of $21.57 and a twelve month high of $36.25. The company has a market capitalization of $1,600.00 and a P/E ratio of -92.84.
MINDBODY (NASDAQ:MB) last posted its quarterly earnings results on Thursday, October 26th. The technology company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.05. MINDBODY had a negative return on equity of 8.39% and a negative net margin of 9.26%. The company had revenue of $46.60 million for the quarter, compared to analysts’ expectations of $45.59 million. During the same period in the previous year, the firm earned ($0.09) EPS. The firm’s revenue was up 32.0% compared to the same quarter last year. analysts anticipate that MINDBODY will post -0.31 earnings per share for the current year.
In other news, CEO Richard Lee Stollmeyer sold 17,741 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $30.30, for a total transaction of $537,552.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kimberly Gail Lytikainen sold 36,868 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $30.11, for a total value of $1,110,095.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,087 shares of company stock worth $3,898,356. Corporate insiders own 8.22% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its position in shares of MINDBODY by 2,171.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,111 shares of the technology company’s stock valued at $112,000 after purchasing an additional 3,930 shares during the last quarter. Quantbot Technologies LP increased its position in shares of MINDBODY by 75.5% during the 2nd quarter. Quantbot Technologies LP now owns 6,902 shares of the technology company’s stock valued at $187,000 after purchasing an additional 2,970 shares during the last quarter. Legal & General Group Plc increased its position in shares of MINDBODY by 121.4% during the 2nd quarter. Legal & General Group Plc now owns 9,340 shares of the technology company’s stock valued at $254,000 after purchasing an additional 5,122 shares during the last quarter. ClariVest Asset Management LLC bought a new position in shares of MINDBODY during the 3rd quarter valued at approximately $269,000. Finally, Nordea Investment Management AB bought a new position in shares of MINDBODY during the 3rd quarter valued at approximately $269,000. 90.26% of the stock is currently owned by hedge funds and other institutional investors.
MINDBODY Company Profile
MINDBODY, Inc is a provider of cloud-based business management software for the wellness services industry and operates as a consumer marketplace with local business subscribers on its platform. The Company’s subscribers provide a range of wellness services to active consumers. Its integrated software and payments platform helps business owners in the wellness services industry run, market and build their businesses.
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