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.

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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.

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)

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