MINDBODY, Inc. (MB) Raised to Buy at BidaskClub

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.

COPYRIGHT VIOLATION WARNING: “MINDBODY, Inc. (MB) Raised to Buy at BidaskClub” was first posted by Markets Daily and is the sole property of of Markets Daily. If you are viewing this article on another site, it was copied illegally and reposted in violation of United States & international trademark and copyright law. The correct version of this article can be read at https://www.themarketsdaily.com/2017/09/12/mindbody-inc-mb-raised-to-buy-at-bidaskclub.html.

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.

Analyst Recommendations for MINDBODY (NASDAQ:MB)

Receive News & Ratings for MINDBODY Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MINDBODY Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply