BidaskClub Downgrades Mulesoft Inc (MULE) to Sell

Mulesoft Inc (NASDAQ:MULE) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Other research analysts have also recently issued research reports about the company. Piper Jaffray Companies reiterated a “buy” rating on shares of Mulesoft in a research note on Tuesday, October 24th. Canaccord Genuity upgraded Mulesoft from a “hold” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $29.00 in a research note on Monday, October 23rd. Goldman Sachs Group, Inc. (The) upgraded Mulesoft from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $26.00 in a research note on Monday, October 9th. Barclays PLC lifted their price objective on Mulesoft from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, October 27th. Finally, Zacks Investment Research upgraded Mulesoft from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Mulesoft presently has a consensus rating of “Hold” and a consensus price target of $27.29.

Mulesoft (NASDAQ MULE) traded down $0.33 on Friday, hitting $23.40. The stock had a trading volume of 727,194 shares, compared to its average volume of 1,310,000. Mulesoft has a 52 week low of $19.40 and a 52 week high of $29.00.

Mulesoft (NASDAQ:MULE) last released its earnings results on Thursday, October 26th. The company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.04. The company had revenue of $77.60 million during the quarter, compared to analysts’ expectations of $71.52 million. Mulesoft had a negative return on equity of 40.65% and a negative net margin of 32.36%. The company’s revenue was up 57.1% on a year-over-year basis.

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In other Mulesoft news, major shareholder Ross Mason sold 125,000 shares of Mulesoft stock in a transaction on Monday, October 30th. The stock was sold at an average price of $23.27, for a total value of $2,908,750.00. Following the completion of the sale, the insider now owns 125,000 shares of the company’s stock, valued at approximately $2,908,750. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Winblad Venture Partner Hummer sold 65,872 shares of Mulesoft stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $23.52, for a total value of $1,549,309.44. The disclosure for this sale can be found here. In the last three months, insiders sold 1,290,872 shares of company stock valued at $28,075,059.

Several institutional investors have recently bought and sold shares of MULE. Bank of New York Mellon Corp bought a new stake in shares of Mulesoft in the 1st quarter worth $589,000. Principal Financial Group Inc. bought a new stake in shares of Mulesoft in the 1st quarter worth $1,108,000. FMR LLC bought a new stake in shares of Mulesoft in the first quarter worth $9,576,000. California Public Employees Retirement System bought a new stake in shares of Mulesoft in the first quarter worth $243,000. Finally, Morgan Stanley bought a new stake in shares of Mulesoft in the first quarter worth $12,477,000.

Mulesoft Company Profile

MuleSoft, Inc is engaged in providing a software platform that connects a range of technologies. The Company enables organizations to manage and secure the flow of data between all systems in the enterprise. The Company offers organizations to create agile infrastructures. The Company has developed Anypoint Platform.

Analyst Recommendations for Mulesoft (NASDAQ:MULE)

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