MINDBODY Inc (MB) Receives Average Rating of “Buy” from Brokerages
Shares of MINDBODY Inc (NASDAQ:MB) have received a consensus rating of “Buy” from the nine research firms that are presently covering the stock. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $29.00.
Several equities research analysts have recently issued reports on MB shares. Zacks Investment Research lowered MINDBODY from a “buy” rating to a “hold” rating in a report on Tuesday, February 7th. Roth Capital set a $28.00 price target on MINDBODY and gave the stock a “buy” rating in a research report on Monday, February 6th. Imperial Capital lifted their price target on MINDBODY from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, February 9th. JMP Securities restated an “outperform” rating and set a $32.00 price objective on shares of MINDBODY in a research report on Tuesday, April 4th. Finally, Pacific Crest cut MINDBODY from an “overweight” rating to a “sector weight” rating in a research report on Friday, May 5th.
MINDBODY (NASDAQ:MB) traded up 1.43% on Friday, reaching $28.40. 481,604 shares of the company’s stock were exchanged. The stock’s market capitalization is $1.16 billion. MINDBODY has a 1-year low of $12.99 and a 1-year high of $29.75. The firm’s 50 day moving average is $27.39 and its 200 day moving average is $24.94.
MINDBODY (NASDAQ:MB) last issued its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.02. The firm had revenue of $42.20 million for the quarter, compared to analysts’ expectations of $42.09 million. MINDBODY had a negative return on equity of 22.49% and a negative net margin of 16.53%. MINDBODY’s revenue was up 31.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) EPS. Analysts expect that MINDBODY will post ($0.14) EPS for the current year.
In other MINDBODY news, CFO Brett T. White sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $27.28, for a total value of $545,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bradford Lee Wills sold 8,172 shares of the firm’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $27.80, for a total transaction of $227,181.60. The disclosure for this sale can be found here. Insiders sold a total of 48,516 shares of company stock valued at $1,328,308 over the last ninety days. 30.62% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Quantbot Technologies LP boosted its position in MINDBODY by 96.3% in the first quarter. Quantbot Technologies LP now owns 3,932 shares of the technology company’s stock worth $107,000 after buying an additional 1,929 shares during the period. Legal & General Group Plc boosted its stake in shares of MINDBODY by 4.1% in the first quarter. Legal & General Group Plc now owns 4,218 shares of the technology company’s stock valued at $116,000 after buying an additional 166 shares during the last quarter. Credit Suisse AG acquired a new stake in shares of MINDBODY during the first quarter valued at $220,000. FNY Partners Fund LP acquired a new stake in shares of MINDBODY during the fourth quarter valued at $237,000. Finally, American International Group Inc. boosted its stake in shares of MINDBODY by 7.1% in the first quarter. American International Group Inc. now owns 8,871 shares of the technology company’s stock valued at $244,000 after buying an additional 588 shares during the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.
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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