Brokerages expect MINDBODY Inc (NASDAQ:MB) to announce $63.78 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for MINDBODY’s earnings. The lowest sales estimate is $63.32 million and the highest is $64.35 million. MINDBODY reported sales of $46.61 million in the same quarter last year, which indicates a positive year-over-year growth rate of 36.8%. The firm is scheduled to announce its next earnings results on Thursday, October 25th.
According to Zacks, analysts expect that MINDBODY will report full-year sales of $247.88 million for the current financial year, with estimates ranging from $246.26 million to $252.52 million. For the next fiscal year, analysts forecast that the business will post sales of $310.19 million, with estimates ranging from $302.70 million to $318.49 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for MINDBODY.
MINDBODY (NASDAQ:MB) last announced its quarterly earnings results on Tuesday, July 31st. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.04). MINDBODY had a negative return on equity of 6.83% and a negative net margin of 11.85%. The business had revenue of $61.61 million for the quarter, compared to analysts’ expectations of $60.48 million.
MB has been the subject of several research reports. Credit Suisse Group reduced their target price on MINDBODY from $41.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, August 1st. Wells Fargo & Co initiated coverage on MINDBODY in a report on Friday, September 7th. They issued an “outperform” rating and a $45.00 target price for the company. Morgan Stanley reduced their target price on MINDBODY from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 1st. KeyCorp reissued a “buy” rating and issued a $47.00 target price on shares of MINDBODY in a report on Wednesday, August 1st. Finally, Zacks Investment Research raised MINDBODY from a “sell” rating to a “hold” rating in a report on Thursday, July 12th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $38.54.
In related news, major shareholder Luxor Capital Group, Lp purchased 65,019 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were purchased at an average price of $34.86 per share, for a total transaction of $2,266,562.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of the business’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $38.96, for a total value of $691,111.44. The disclosure for this sale can be found here. Insiders sold a total of 66,055 shares of company stock worth $2,444,480 in the last 90 days. 6.02% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in MINDBODY during the 1st quarter worth approximately $122,000. Sei Investments Co. acquired a new position in MINDBODY during the 1st quarter worth approximately $143,000. Nwam LLC acquired a new position in MINDBODY during the 2nd quarter worth approximately $205,000. Xact Kapitalforvaltning AB acquired a new position in MINDBODY during the 1st quarter worth approximately $223,000. Finally, Amalgamated Bank acquired a new position in MINDBODY during the 1st quarter worth approximately $223,000. Hedge funds and other institutional investors own 96.82% of the company’s stock.
MINDBODY stock opened at $40.45 on Thursday. MINDBODY has a fifty-two week low of $25.40 and a fifty-two week high of $45.50. The company has a quick ratio of 9.61, a current ratio of 9.61 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $2.03 billion, a PE ratio of -138.67 and a beta of -0.19.
MINDBODY Company Profile
MINDBODY, Inc operates a cloud-based business management software and payments platform for the small and medium-sized businesses in the wellness services industry. Its platform enables businesses to run, market, and build scheduling and online booking, performance tracking, staff management, client relationship management, integrated payment processing, retail point-of-sale, purchase tracking, inventory, hardware integration, analytics and reporting, branded Web, mobility, social integration, client acquisition dashboard, security and compliance, and integration with other cloud-based partners for yoga, Pilates, indoor cycling, group and personal training, boutique fitness, salons, spas, and integrative health businesses.
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