MINDBODY, Inc. (MB) Given “Buy” Rating at Craig Hallum

MINDBODY, Inc. (NASDAQ:MB)‘s stock had its “buy” rating restated by Craig Hallum in a research report issued on Monday. They currently have a $30.00 target price on the technology company’s stock. Craig Hallum’s price target suggests a potential upside of 11.52% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. KeyCorp raised shares of MINDBODY from a “sector weight” rating to an “overweight” rating and increased their price target for the company from $16.95 to $32.00 in a research note on Friday. BidaskClub cut shares of MINDBODY from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Jefferies Group LLC began coverage on shares of MINDBODY in a research note on Thursday, August 24th. They issued a “hold” rating and a $26.00 price target for the company. Zacks Investment Research cut shares of MINDBODY from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, UBS AG reissued a “buy” rating and issued a $32.00 price target (up previously from $30.00) on shares of MINDBODY in a research note on Wednesday, June 14th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. MINDBODY has an average rating of “Buy” and an average target price of $31.00.

MINDBODY (NASDAQ MB) traded down 2.60% on Monday, reaching $26.20. The company had a trading volume of 49,496 shares. The company’s 50-day moving average price is $24.54 and its 200 day moving average price is $24.54. MINDBODY has a 1-year low of $16.95 and a 1-year high of $27.40. The firm’s market capitalization is $1.21 billion.

MINDBODY (NASDAQ:MB) last posted its quarterly earnings results on Wednesday, July 26th. The technology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. MINDBODY had a negative net margin of 11.34% and a negative return on equity of 12.49%. The business had revenue of $44.10 million during the quarter, compared to analysts’ expectations of $44.11 million. During the same quarter in the prior year, the company posted ($0.10) EPS. The business’s revenue for the quarter was up 31.3% on a year-over-year basis. On average, equities analysts forecast that MINDBODY will post ($0.09) EPS for the current year.

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In related news, CEO Richard Lee Stollmeyer sold 17,739 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $26.16, for a total transaction of $464,052.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Luxor Capital Group, Lp acquired 420,048 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were bought at an average cost of $24.93 per share, with a total value of $10,471,796.64. The disclosure for this purchase can be found here. Insiders have sold a total of 74,260 shares of company stock valued at $1,858,412 in the last ninety days. 8.22% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of MB. Teachers Advisors LLC boosted its position in MINDBODY by 4.8% in the 4th quarter. Teachers Advisors LLC now owns 24,524 shares of the technology company’s stock valued at $522,000 after buying an additional 1,132 shares during the period. Wells Fargo & Company MN boosted its position in MINDBODY by 9.4% in the 1st quarter. Wells Fargo & Company MN now owns 81,124 shares of the technology company’s stock valued at $2,228,000 after buying an additional 6,961 shares during the period. Bank of New York Mellon Corp boosted its position in MINDBODY by 5.5% in the 1st quarter. Bank of New York Mellon Corp now owns 140,570 shares of the technology company’s stock valued at $3,858,000 after buying an additional 7,292 shares during the period. Swiss National Bank boosted its position in MINDBODY by 52.1% in the 1st quarter. Swiss National Bank now owns 22,200 shares of the technology company’s stock valued at $609,000 after buying an additional 7,600 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in MINDBODY by 102.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 43,895 shares of the technology company’s stock valued at $1,205,000 after buying an additional 22,251 shares during the period. 92.75% of the stock is owned by institutional investors.

About MINDBODY

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.

Analyst Recommendations for MINDBODY (NASDAQ:MB)

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