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.
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.
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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