Zacks Investment Research Upgrades Mulesoft Inc (MULE) to “Hold”
Mulesoft Inc (NASDAQ:MULE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.
According to Zacks, “MuleSoft, Inc. owns and operates Anypoint Platform, an integration solution for connecting applications, data sources, and devices, both on-premises and in the cloud. Its hybrid integration platform includes iPaaS, ESB and a unified solution for API management, design and publishing. MuleSoft, Inc. is headquartered in San Francisco, California. “
MULE has been the topic of a number of other research reports. Barclays PLC reaffirmed a “hold” rating and set a $24.00 price objective on shares of Mulesoft in a research report on Wednesday, August 2nd. William Blair reaffirmed an “outperform” rating on shares of Mulesoft in a research report on Monday, May 15th. CIBC assumed coverage on Mulesoft in a research report on Thursday, June 8th. They set a “market perform” rating on the stock. Oppenheimer Holdings, Inc. assumed coverage on Mulesoft in a research report on Thursday, June 8th. They set a “market perform” rating on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Mulesoft in a research report on Monday, May 15th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $25.43.
Mulesoft (NASDAQ MULE) traded down 0.27% during mid-day trading on Friday, hitting $21.84. The stock had a trading volume of 426,291 shares. The stock’s market cap is $2.82 billion. The firm has a 50-day moving average of $21.97 and a 200-day moving average of $23.48. Mulesoft has a 52-week low of $18.84 and a 52-week high of $29.00.
Mulesoft (NASDAQ:MULE) last posted its quarterly earnings data on Thursday, July 27th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Mulesoft had a negative return on equity of 30.07% and a negative net margin of 28.36%. The business had revenue of $69.20 million for the quarter, compared to analyst estimates of $63.63 million. The business’s quarterly revenue was up 57.3% compared to the same quarter last year. On average, analysts forecast that Mulesoft will post ($0.39) EPS for the current fiscal year.
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Several hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC grew its stake in shares of Mulesoft by 53.6% during the second quarter. Lord Abbett & CO. LLC now owns 1,202,994 shares of the company’s stock worth $30,003,000 after purchasing an additional 420,025 shares in the last quarter. California State Teachers Retirement System acquired a new position in shares of Mulesoft during the second quarter worth $668,000. The Manufacturers Life Insurance Company acquired a new position in shares of Mulesoft during the second quarter worth $293,000. Sylebra HK Co Ltd acquired a new position in shares of Mulesoft during the second quarter worth $10,992,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Mulesoft by 10,031.0% during the second quarter. Cubist Systematic Strategies LLC now owns 10,131 shares of the company’s stock worth $253,000 after purchasing an additional 10,031 shares in the last quarter.
MuleSoft, Inc is engaged in providing a software platform that connects a range of technologies. The Company enables organizations to manage and secure the flow of data between all systems in the enterprise. The Company offers organizations to create agile infrastructures. The Company has developed Anypoint Platform.
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