BidaskClub upgraded shares of MINDBODY, Inc. (NASDAQ:MB) from a hold rating to a buy rating in a research note issued to investors on Friday morning.
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of MINDBODY from a hold rating to a buy rating and set a $29.00 price objective for the company in a report on Thursday, July 6th. UBS AG reiterated a buy rating and set a $32.00 price objective (up from $30.00) on shares of MINDBODY in a report on Wednesday, June 14th. Roth Capital set a $32.00 price target on shares of MINDBODY and gave the company a buy rating in a research report on Tuesday, June 6th. Morgan Stanley raised their price target on shares of MINDBODY from $27.00 to $29.00 and gave the company an equal weight rating in a research report on Monday, May 15th. Finally, KeyCorp reissued a hold rating on shares of MINDBODY in a research report on Friday, August 25th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $29.25.
MINDBODY (MB) opened at 25.40 on Friday. MINDBODY has a 52 week low of $16.71 and a 52 week high of $29.75. The company has a 50-day moving average of $24.22 and a 200-day moving average of $26.38. The firm’s market capitalization is $1.18 billion.
MINDBODY (NASDAQ:MB) last posted its quarterly earnings results on Wednesday, July 26th. The technology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The business had revenue of $44.10 million during 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 business’s quarterly revenue was up 31.3% on a year-over-year basis. During the same period last year, the company posted ($0.10) earnings per share. On average, equities analysts forecast that MINDBODY will post ($0.09) earnings per share for the current fiscal year.
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In other news, CEO Richard Lee Stollmeyer sold 17,739 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $26.16, for a total value of $464,052.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bradford Lee Wills sold 1,043 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $28.08, for a total transaction of $29,287.44. The disclosure for this sale can be found here. In the last three months, insiders sold 74,520 shares of company stock worth $1,865,692. Insiders own 8.22% of the company’s stock.
Large investors have recently modified their holdings of the stock. Quantbot Technologies LP grew its stake in MINDBODY by 96.3% during the first quarter. Quantbot Technologies LP now owns 3,932 shares of the technology company’s stock valued at $107,000 after acquiring an additional 1,929 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in MINDBODY by 2,171.3% during the second quarter. BNP Paribas Arbitrage SA now owns 4,111 shares of the technology company’s stock valued at $112,000 after acquiring an additional 3,930 shares in the last quarter. Legal & General Group Plc grew its stake in MINDBODY by 4.1% during the first quarter. Legal & General Group Plc now owns 4,218 shares of the technology company’s stock valued at $116,000 after acquiring an additional 166 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in MINDBODY by 49.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 5,046 shares of the technology company’s stock valued at $137,000 after acquiring an additional 1,678 shares in the last quarter. Finally, Credit Suisse AG purchased a new position in MINDBODY during the first quarter valued at approximately $220,000. 92.75% of the stock is owned by institutional investors.
MINDBODY Company Profile
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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