Equities research analysts expect MINDBODY, Inc. (NASDAQ:MB) to announce sales of $45.54 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for MINDBODY’s earnings, with estimates ranging from $45.26 million to $45.65 million. MINDBODY posted sales of $35.26 million during the same quarter last year, which indicates a positive year-over-year growth rate of 29.2%. The company is expected to announce its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that MINDBODY will report full-year sales of $45.54 million for the current financial year, with estimates ranging from $179.77 million to $181.13 million. For the next financial year, analysts anticipate that the company will report sales of $224.29 million per share, with estimates ranging from $220.35 million to $228.57 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow MINDBODY.
MINDBODY (NASDAQ:MB) last released 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. The business had revenue of $44.10 million for the quarter, compared to analysts’ expectations of $44.11 million. MINDBODY had a negative net margin of 11.34% and a negative return on equity of 12.49%. The firm’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) earnings per share.
A number of analysts have weighed in on MB shares. Zacks Investment Research upgraded MINDBODY from a “sell” rating to a “hold” rating in a research note on Friday, May 19th. J P Morgan Chase & Co started coverage on MINDBODY in a research note on Friday, June 9th. They issued an “overweight” rating and a $38.00 target price on the stock. KeyCorp reiterated a “hold” rating on shares of MINDBODY in a research note on Thursday, July 27th. Jefferies Group LLC started coverage on MINDBODY in a research note on Thursday, August 24th. They issued a “hold” rating and a $26.00 target price on the stock. Finally, Credit Suisse Group increased their target price on MINDBODY from $27.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $29.25.
MINDBODY (NASDAQ:MB) traded up 1.01% during mid-day trading on Monday, reaching $25.00. 144,592 shares of the company traded hands. MINDBODY has a 12-month low of $16.71 and a 12-month high of $29.75. The company’s 50 day moving average price is $24.22 and its 200 day moving average price is $26.38. The firm’s market capitalization is $1.16 billion.
In other news, CFO Brett T. White sold 10,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $26.16, for a total value of $464,052.24. The disclosure for this sale can be found here. Insiders have sold a total of 74,520 shares of company stock worth $1,865,692 in the last three months. Corporate insiders own 8.22% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. bought a new position in shares of MINDBODY during the 2nd quarter worth $37,529,000. Vanguard Group Inc. grew its position in shares of MINDBODY by 19.4% during the 1st quarter. Vanguard Group Inc. now owns 904,161 shares of the technology company’s stock worth $24,820,000 after buying an additional 146,816 shares in the last quarter. Bank of America Corp DE grew its position in shares of MINDBODY by 5.2% during the 1st quarter. Bank of America Corp DE now owns 35,657 shares of the technology company’s stock worth $979,000 after buying an additional 1,762 shares in the last quarter. Federated Investors Inc. PA grew its position in shares of MINDBODY by 112.3% during the 2nd quarter. Federated Investors Inc. PA now owns 401,845 shares of the technology company’s stock worth $10,930,000 after buying an additional 212,537 shares in the last quarter. Finally, State of Wisconsin Investment Board bought a new position in shares of MINDBODY during the 2nd quarter worth $6,664,000. 92.75% of the stock is currently owned by institutional investors and hedge funds.
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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