Mindbody Inc. (MB) PT Set at $23.00 by Roth Capital
Mindbody Inc. (NASDAQ:MB) has been given a $23.00 price target by equities researchers at Roth Capital in a research report issued on Monday. The firm presently has a a “buy” rating on the stock. Roth Capital’s price objective points to a potential upside of 22.79% from the company’s previous close.
A number of other brokerages have also commented on MB. Zacks Investment Research raised Mindbody from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Wednesday, September 28th. JMP Securities raised their price objective on Mindbody from $19.00 to $25.00 and gave the company a “market outperform” rating in a research note on Thursday, July 28th. Pacific Crest raised their price objective on Mindbody from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, July 28th. Morgan Stanley raised their price objective on Mindbody from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, July 28th. Finally, KeyCorp raised their price objective on Mindbody from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, September 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $22.14.
Shares of Mindbody (NASDAQ:MB) traded down 2.216% during midday trading on Monday, reaching $18.315. The company had a trading volume of 1,826,404 shares. Mindbody has a 1-year low of $9.20 and a 1-year high of $20.83. The stock’s market capitalization is $727.56 million. The firm’s 50 day moving average price is $18.05 and its 200-day moving average price is $15.85.
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Mindbody (NASDAQ:MB) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. Mindbody had a negative return on equity of 30.95% and a negative net margin of 27.12%. The company earned $33.60 million during the quarter, compared to analyst estimates of $33.22 million. During the same period in the prior year, the company earned ($0.21) earnings per share. The firm’s revenue was up 35.5% on a year-over-year basis. Equities research analysts expect that Mindbody will post ($0.44) EPS for the current fiscal year.
In other Mindbody news, Director Robert John Murphy sold 34,600 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $17.34, for a total transaction of $599,964.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bessemer Venture Partners Vii sold 800,000 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $17.63, for a total value of $14,104,000.00. The disclosure for this sale can be found here. Corporate insiders own 30.62% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. increased its position in shares of Mindbody by 88.8% in the second quarter. American International Group Inc. now owns 8,293 shares of the company’s stock worth $134,000 after buying an additional 3,900 shares in the last quarter. Strs Ohio acquired a new position in shares of Mindbody during the second quarter valued at $167,000. Alliancebernstein L.P. acquired a new position in shares of Mindbody during the second quarter valued at $179,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Mindbody during the second quarter valued at $179,000. Finally, A.R.T. Advisors LLC acquired a new position in shares of Mindbody during the second quarter valued at $200,000. Institutional investors own 38.49% of the company’s stock.
MINDBODY, Inc is a provider of cloud-based business management software for the wellness services industry and operates as a consumer marketplace with over 51,000 local business subscribers on its platform in over 130 countries and territories. The Company’s subscribers provide a range of wellness services to approximately 28 million active consumers.
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