MINDBODY, Inc. (NASDAQ:MB) Receives Consensus Recommendation of “Buy” from Analysts
MINDBODY, Inc. (NASDAQ:MB) has received a consensus recommendation of “Buy” from the twelve ratings firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $31.50.
Several equities research analysts have issued reports on MB shares. Zacks Investment Research lowered shares of MINDBODY from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub lowered shares of MINDBODY from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 1st. Roth Capital set a $32.00 price target on shares of MINDBODY and gave the company a “buy” rating in a research note on Tuesday, June 6th. Pacific Crest lowered shares of MINDBODY from an “overweight” rating to a “sector weight” rating in a research note on Monday, May 15th. Finally, JPMorgan Chase & Co. assumed coverage on shares of MINDBODY in a research note on Friday, June 9th. They issued an “overweight” rating and a $38.00 price target on the stock.
MINDBODY (NASDAQ MB) traded up 1.94% during midday trading on Friday, reaching $23.60. 342,328 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $25.75 and a 200 day moving average price of $26.56. MINDBODY has a 52 week low of $16.71 and a 52 week high of $29.75. The company’s market cap is $1.09 billion.
MINDBODY (NASDAQ:MB) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. MINDBODY had a negative net margin of 11.34% and a negative return on equity of 12.49%. The firm had revenue of $44.10 million for the quarter, compared to analyst estimates of $44.11 million. During the same period in the previous year, the business earned ($0.10) EPS. The company’s revenue was up 31.3% compared to the same quarter last year. Analysts anticipate that MINDBODY will post ($0.09) EPS for the current year.
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In related news, major shareholder Luxor Capital Group, Lp purchased 257,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were acquired at an average price of $27.95 per share, for a total transaction of $7,197,125.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Bradford Lee Wills sold 1,043 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $28.08, for a total transaction of $29,287.44. The disclosure for this sale can be found here. Insiders have sold a total of 69,980 shares of company stock worth $1,855,997 over the last 90 days. 8.22% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Advisors LLC bought a new position in shares of MINDBODY during the first quarter worth approximately $778,000. Norges Bank bought a new position in shares of MINDBODY during the fourth quarter worth approximately $669,000. Macquarie Group Ltd. bought a new position in shares of MINDBODY during the fourth quarter worth approximately $2,026,000. Wells Fargo & Company MN raised its position in shares of MINDBODY by 9.4% in the first quarter. Wells Fargo & Company MN now owns 81,124 shares of the technology company’s stock worth $2,228,000 after buying an additional 6,961 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of MINDBODY by 0.7% in the first quarter. Clearbridge Investments LLC now owns 1,484,458 shares of the technology company’s stock worth $40,748,000 after buying an additional 9,596 shares during the period. Institutional investors and hedge funds own 71.49% 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 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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