Shares of MINDBODY Inc (NASDAQ:MB) were up 0% on Friday after Imperial Capital raised their price target on the stock from $35.00 to $42.00. Imperial Capital currently has an outperform rating on the stock. MINDBODY traded as high as $37.25 and last traded at $35.55. Approximately 1,175,300 shares were traded during trading, an increase of 198% from the average daily volume of 394,484 shares. The stock had previously closed at $35.55.
Other analysts have also issued reports about the stock. BidaskClub upgraded shares of MINDBODY from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. KeyCorp restated a “buy” rating and set a $41.00 target price (up from $34.00) on shares of MINDBODY in a research note on Monday, January 22nd. Jefferies Group upgraded shares of MINDBODY from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Monday, January 8th. DA Davidson started coverage on shares of MINDBODY in a research note on Wednesday, November 15th. They set a “buy” rating and a $42.00 target price on the stock. Finally, UBS Group restated a “buy” rating and set a $40.00 target price (up from $34.00) on shares of MINDBODY in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $36.38.
In other news, insider Kunal Mittal sold 10,000 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $35.00, for a total value of $350,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kimberly Gail Lytikainen sold 36,868 shares of the 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. Insiders sold 92,348 shares of company stock worth $2,883,809 over the last quarter. 8.22% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Gotham Asset Management LLC acquired a new stake in shares of MINDBODY in the fourth quarter valued at approximately $253,000. ClariVest Asset Management LLC acquired a new stake in shares of MINDBODY in the third quarter valued at approximately $269,000. Nordea Investment Management AB acquired a new stake in shares of MINDBODY in the third quarter valued at approximately $269,000. UBS Asset Management Americas Inc. acquired a new stake in shares of MINDBODY in the fourth quarter valued at approximately $271,000. Finally, Arthur M. Cohen & Associates LLC acquired a new stake in shares of MINDBODY in the fourth quarter valued at approximately $274,000. 87.69% of the stock is owned by institutional investors and hedge funds.
The firm has a market cap of $1,780.00 and a price-to-earnings ratio of -108.24. The company has a current ratio of 9.20, a quick ratio of 9.20 and a debt-to-equity ratio of 0.06.
MINDBODY (NASDAQ:MB) last issued its quarterly earnings results on Wednesday, February 21st. The technology company reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. MINDBODY had a negative return on equity of 6.70% and a negative net margin of 8.10%. The firm had revenue of $49.70 million during the quarter, compared to the consensus estimate of $48.96 million. During the same period last year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. research analysts anticipate that MINDBODY Inc will post -0.11 EPS for the current fiscal year.
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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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