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.

COPYRIGHT VIOLATION WARNING: This news story was first published by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be accessed at https://www.americanbankingnews.com/2017/08/11/mindbody-inc-nasdaqmb-receives-consensus-recommendation-of-buy-from-analysts.html.

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.

About MINDBODY

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.

Analyst Recommendations for MINDBODY (NASDAQ:MB)

Receive News & Ratings for MINDBODY Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MINDBODY Inc. and related companies with MarketBeat.com's FREE daily email newsletter.