MINDBODY, Inc. (MB) Stock Rating Upgraded by BidaskClub
MINDBODY, Inc. (NASDAQ:MB) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
MB has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of MINDBODY from a “sell” rating to a “hold” rating in a report on Friday, May 19th. J P Morgan Chase & Co started coverage on shares of MINDBODY in a report on Friday, June 9th. They issued an “overweight” rating and a $38.00 price objective for the company. KeyCorp reiterated a “hold” rating on shares of MINDBODY in a report on Thursday, July 27th. Jefferies Group LLC started coverage on shares of MINDBODY in a report on Thursday, August 24th. They issued a “hold” rating and a $26.00 price objective for the company. Finally, Credit Suisse Group increased their price objective on shares of MINDBODY from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. MINDBODY currently has a consensus rating of “Buy” and an average target price of $29.25.
MINDBODY (NASDAQ:MB) traded up 0.40% on Friday, reaching $25.40. The company had a trading volume of 77,382 shares. The company’s 50-day moving average price is $24.24 and its 200 day moving average price is $26.39. MINDBODY has a 1-year low of $16.71 and a 1-year high of $29.75. The firm’s market capitalization is $1.18 billion.
MINDBODY (NASDAQ:MB) last released its quarterly earnings data on Wednesday, July 26th. The technology company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.04. The company had revenue of $44.10 million during the quarter, compared to the consensus estimate of $44.11 million. MINDBODY had a negative net margin of 11.34% and a negative return on equity of 12.49%. MINDBODY’s quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.10) EPS. On average, equities analysts forecast that MINDBODY will post ($0.09) EPS for the current year.
In related news, insider Bradford Lee Wills sold 1,043 shares of the stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $28.08, for a total transaction of $29,287.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $26.16, for a total transaction of $464,052.24. The disclosure for this sale can be found here. Insiders have sold a total of 74,520 shares of company stock valued at $1,865,692 in the last 90 days. Insiders own 8.22% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Quantbot Technologies LP boosted its position in shares of MINDBODY by 96.3% during the 1st quarter. Quantbot Technologies LP now owns 3,932 shares of the technology company’s stock worth $107,000 after purchasing an additional 1,929 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of MINDBODY by 2,171.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,111 shares of the technology company’s stock worth $112,000 after purchasing an additional 3,930 shares during the period. Legal & General Group Plc boosted its position in shares of MINDBODY by 4.1% during the 1st quarter. Legal & General Group Plc now owns 4,218 shares of the technology company’s stock worth $116,000 after purchasing an additional 166 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of MINDBODY by 49.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,046 shares of the technology company’s stock worth $137,000 after purchasing an additional 1,678 shares during the period. Finally, Credit Suisse AG purchased a new position in shares of MINDBODY during the 1st quarter worth approximately $220,000. 92.75% of the stock is owned by hedge funds and other institutional investors.
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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