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.
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.
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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