Mindbody Inc. (MB) PT Set at $23.00 by Roth Capital
Mindbody Inc. (NASDAQ:MB) received a $23.00 price objective from analysts at Roth Capital in a research report issued to clients and investors on Monday. The firm currently has a a “buy” rating on the stock. Roth Capital’s price objective suggests a potential upside of 22.79% from the company’s previous close.
Other analysts also recently issued research reports about the company. Morgan Stanley increased their target price on Mindbody from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, July 28th. Imperial Capital restated an “outperform” rating and set a $22.00 target price (up previously from $18.00) on shares of Mindbody in a research note on Friday, July 29th. JMP Securities increased their target price on Mindbody from $19.00 to $25.00 and gave the company a “market outperform” rating in a research note on Thursday, July 28th. Credit Suisse Group AG restated a “buy” rating on shares of Mindbody in a research note on Thursday, June 16th. Finally, KeyCorp increased their target price on Mindbody from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, September 13th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Mindbody presently has a consensus rating of “Buy” and an average price target of $22.14.
Shares of Mindbody (NASDAQ:MB) traded down 1.76% on Monday, reaching $18.40. The company had a trading volume of 1,638,231 shares. Mindbody has a 12 month low of $9.20 and a 12 month high of $20.83. The company’s 50-day moving average is $18.05 and its 200 day moving average is $15.85. The firm’s market capitalization is $730.94 million.
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Mindbody (NASDAQ:MB) last announced its earnings results on Wednesday, July 27th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate 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 firm earned $33.60 million during the quarter, compared to the consensus estimate of $33.22 million. During the same quarter in the prior year, the company earned ($0.21) EPS. The firm’s revenue for the quarter was up 35.5% compared to the same quarter last year. Equities analysts forecast that Mindbody will post ($0.44) earnings per share for the current year.
In related news, insider Bradford Lee Wills sold 18,749 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $17.92, for a total transaction of $335,982.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Lee Stollmeyer sold 21,760 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $19.44, for a total value of $423,014.40. The disclosure for this sale can be found here. 30.62% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in MB. JPMorgan Chase & Co. raised its position in Mindbody by 595,629.9% in the first quarter. JPMorgan Chase & Co. now owns 637,431 shares of the company’s stock valued at $8,497,000 after buying an additional 637,324 shares in the last quarter. Abdiel Capital Advisors LP raised its position in Mindbody by 11.9% in the second quarter. Abdiel Capital Advisors LP now owns 2,814,260 shares of the company’s stock valued at $45,422,000 after buying an additional 299,160 shares in the last quarter. Royal Bank of Canada bought a new position in Mindbody during the second quarter valued at about $4,043,000. Capital World Investors bought a new position in Mindbody during the second quarter valued at about $2,401,000. Finally, Hamilton Lane Advisors LLC bought a new position in Mindbody during the second quarter valued at about $2,235,000. 38.49% of the stock is owned by hedge funds and other 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 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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