MINDBODY Inc (MB) Raised to “Hold” at Zacks Investment Research
MINDBODY Inc (NASDAQ:MB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.
According to Zacks, “MINDBODY, Inc. develops cloud-based business management software and payments platform for the wellness services industry. Its platform enables businesses to manage class and appointment schedules, staff members, client information, online bookings, inventory, payroll and retail sales for yoga, Pilates, barre, indoor cycling, personal training, martial arts and dance exercise, as well as spas, salons, music instruction studios, dance studios, childrens activity center and integrative health centers. MINDBODY, Inc. is headquartered in San Luis Obispo, California. “
Several other research analysts also recently commented on MB. Roth Capital set a $28.00 target price on MINDBODY and gave the stock a “buy” rating in a research note on Monday, February 6th. Morgan Stanley raised their target price on MINDBODY from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, May 5th. JMP Securities restated an “outperform” rating and issued a $32.00 target price on shares of MINDBODY in a research note on Monday, April 17th. Imperial Capital raised their target price on MINDBODY from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, February 9th. Finally, Credit Suisse Group AG raised their target price on MINDBODY from $27.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $27.44.
Shares of MINDBODY (NASDAQ:MB) traded up 3.11% during midday trading on Friday, hitting $28.20. 512,084 shares of the stock were exchanged. The stock’s 50-day moving average price is $27.20 and its 200-day moving average price is $24.59. MINDBODY has a 1-year low of $12.99 and a 1-year high of $29.75. The firm’s market capitalization is $1.16 billion.
MINDBODY (NASDAQ:MB) last announced its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. MINDBODY had a negative return on equity of 22.49% and a negative net margin of 16.53%. The company had revenue of $42.20 million during the quarter, compared to analyst estimates of $42.09 million. During the same quarter last year, the firm posted ($0.12) EPS. The firm’s revenue for the quarter was up 31.9% on a year-over-year basis. On average, analysts forecast that MINDBODY will post ($0.14) EPS for the current year.
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In related news, insider Bradford Lee Wills sold 1,042 shares of the business’s stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $26.83, for a total value of $27,956.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $27.26, for a total value of $483,565.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,516 shares of company stock valued at $1,328,308. Corporate insiders own 30.62% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Nicholas Investment Partners LP boosted its position in shares of MINDBODY by 22.5% in the fourth quarter. Nicholas Investment Partners LP now owns 199,719 shares of the technology company’s stock worth $4,253,000 after buying an additional 36,682 shares during the period. FNY Partners Fund LP bought a new position in shares of MINDBODY during the fourth quarter worth approximately $237,000. State Street Corp boosted its position in shares of MINDBODY by 1.8% in the fourth quarter. State Street Corp now owns 218,299 shares of the technology company’s stock worth $4,651,000 after buying an additional 3,770 shares during the period. Pier 88 Investment Partners LLC bought a new position in shares of MINDBODY during the fourth quarter worth approximately $861,000. Finally, Russell Investments Group Ltd. bought a new position in shares of MINDBODY during the fourth quarter worth approximately $2,765,000. 81.13% of the stock is currently owned by institutional investors and hedge funds.
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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