MINDBODY, Inc. (MB) Stock Rating Reaffirmed by Craig Hallum
MINDBODY, Inc. (NASDAQ:MB)‘s stock had its “buy” rating reissued by investment analysts at Craig Hallum in a report issued on Monday. They presently have a $30.00 target price on the technology company’s stock. Craig Hallum’s price objective indicates a potential upside of 11.52% from the company’s previous close.
A number of other equities research analysts have also issued reports on MB. Roth Capital set a $32.00 price target on MINDBODY and gave the company a “buy” rating in a research report on Tuesday, June 6th. J P Morgan Chase & Co initiated coverage on MINDBODY in a research report on Friday, June 9th. They issued an “overweight” rating and a $38.00 price target on the stock. BidaskClub lowered MINDBODY from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. UBS AG reaffirmed a “buy” rating and issued a $32.00 price target (up previously from $30.00) on shares of MINDBODY in a research report on Wednesday, June 14th. Finally, Zacks Investment Research raised MINDBODY from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Thursday, July 6th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $31.00.
MINDBODY (NASDAQ:MB) last posted its quarterly earnings results on Wednesday, July 26th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The company had revenue of $44.10 million for the quarter, compared to analyst estimates of $44.11 million. MINDBODY had a negative return on equity of 12.49% and a negative net margin of 11.34%. MINDBODY’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.10) EPS.
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In other MINDBODY news, major shareholder Luxor Capital Group, Lp acquired 420,048 shares of the company’s stock in a transaction dated Thursday, September 21st. The shares were acquired at an average price of $24.93 per share, for a total transaction of $10,471,796.64. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brett T. White sold 10,000 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $24.00, for a total value of $240,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,260 shares of company stock worth $1,858,412. Company insiders own 8.22% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP increased its holdings in shares of MINDBODY by 96.3% in the 1st quarter. Quantbot Technologies LP now owns 3,932 shares of the technology company’s stock valued at $107,000 after acquiring an additional 1,929 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of MINDBODY by 2,171.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,111 shares of the technology company’s stock valued at $112,000 after acquiring an additional 3,930 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of MINDBODY by 4.1% in the 1st quarter. Legal & General Group Plc now owns 4,218 shares of the technology company’s stock valued at $116,000 after acquiring an additional 166 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of MINDBODY by 49.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,046 shares of the technology company’s stock valued at $137,000 after acquiring an additional 1,678 shares during the last quarter. Finally, Credit Suisse AG purchased a new position in shares of MINDBODY in the 1st quarter valued at about $220,000. Institutional investors and hedge funds own 92.75% of the company’s stock.
MINDBODY Company Profile
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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