Analysts Set MINDBODY, Inc. (MB) Price Target at $30.89

MINDBODY, Inc. (NASDAQ:MB) has earned an average rating of “Buy” from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $30.89.

Several research firms recently commented on MB. UBS AG reiterated 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. BidaskClub lowered MINDBODY from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 1st. Morgan Stanley boosted their price objective on MINDBODY from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Monday, May 15th. Pacific Crest lowered MINDBODY from an “overweight” rating to a “sector weight” rating in a report on Monday, May 15th. Finally, Roth Capital set a $32.00 price objective on MINDBODY and gave the company a “buy” rating in a report on Tuesday, June 6th.

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In other MINDBODY news, insider Bradford Lee Wills sold 1,043 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $28.08, for a total value of $29,287.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Luxor Capital Group, Lp bought 369,345 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was purchased at an average price of $27.79 per share, with a total value of $10,264,097.55. The disclosure for this purchase can be found here. Insiders have sold 74,520 shares of company stock valued at $1,865,692 over the last ninety days. Corporate insiders own 8.22% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its position in MINDBODY by 0.3% in the second quarter. Parallel Advisors LLC now owns 14,920 shares of the technology company’s stock worth $387,000 after purchasing an additional 45 shares during the period. Legal & General Group Plc lifted its position in MINDBODY by 4.1% in the first quarter. Legal & General Group Plc now owns 4,218 shares of the technology company’s stock worth $116,000 after purchasing an additional 166 shares during the period. American International Group Inc. lifted its position in MINDBODY by 7.1% in the first quarter. American International Group Inc. now owns 8,871 shares of the technology company’s stock worth $244,000 after purchasing an additional 588 shares during the period. Teachers Advisors LLC lifted its position in MINDBODY by 4.8% in the fourth quarter. Teachers Advisors LLC now owns 24,524 shares of the technology company’s stock worth $522,000 after purchasing an additional 1,132 shares during the period. Finally, Nicholas Investment Partners LP lifted its position in MINDBODY by 0.7% in the first quarter. Nicholas Investment Partners LP now owns 201,048 shares of the technology company’s stock worth $5,521,000 after purchasing an additional 1,329 shares during the period. Hedge funds and other institutional investors own 92.75% of the company’s stock.

MINDBODY (MB) traded down 2.17% during trading on Tuesday, reaching $24.75. The company had a trading volume of 434,570 shares. The company’s market capitalization is $1.15 billion. MINDBODY has a 12 month low of $16.84 and a 12 month high of $29.75. The firm’s 50 day moving average is $24.22 and its 200-day moving average is $26.38.

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

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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