MINDBODY, Inc. (MB) Downgraded to Hold at Zacks Investment Research
MINDBODY, Inc. (NASDAQ:MB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “MINDBODY, Inc. develops cloud-based business management software and payments platform for the wellness services industry. Its platform enables businesses to manage class and appointment schedules, staff members, client information, online bookings, inventory, payroll and retail sales for yoga, Pilates, barre, indoor cycling, personal training, martial arts and dance exercise, as well as spas, salons, music instruction studios, dance studios, childrens activity center and integrative health centers. MINDBODY, Inc. is headquartered in San Luis Obispo, California. “
MB has been the topic of a number of other reports. KeyCorp restated a “buy” rating and issued a $32.00 target price on shares of MINDBODY in a report on Sunday, October 22nd. BidaskClub upgraded shares of MINDBODY from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. 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 target price on the stock. Craig Hallum restated a “buy” rating and issued a $30.00 target price on shares of MINDBODY in a report on Monday, September 25th. Finally, Roth Capital restated a “buy” rating and issued a $31.50 target price on shares of MINDBODY in a report on Thursday, September 28th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $30.95.
MINDBODY (NASDAQ:MB) last announced its earnings results on Thursday, October 26th. The technology company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. The business had revenue of $46.60 million for the quarter, compared to the consensus estimate of $45.59 million. MINDBODY had a negative net margin of 9.26% and a negative return on equity of 9.70%. MINDBODY’s quarterly revenue was up 32.0% on a year-over-year basis. During the same period last year, the firm posted ($0.09) earnings per share.
In other MINDBODY news, CFO Brett T. White sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $23.71, for a total value of $420,591.69. The disclosure for this sale can be found here. In the last three months, insiders have acquired 955,594 shares of company stock valued at $25,273,140 and have sold 140,978 shares valued at $3,820,180. Company insiders own 8.22% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its position 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 worth $112,000 after purchasing an additional 3,930 shares during the last quarter. Legal & General Group Plc raised its position 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 worth $116,000 after purchasing an additional 166 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position 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 worth $137,000 after purchasing an additional 1,678 shares during the last quarter. Quantbot Technologies LP raised its position in shares of MINDBODY by 75.5% in the 2nd quarter. Quantbot Technologies LP now owns 6,902 shares of the technology company’s stock worth $187,000 after purchasing an additional 2,970 shares during the last quarter. Finally, Credit Suisse AG purchased a new position in shares of MINDBODY in the 1st quarter worth about $220,000. 84.67% of the stock is owned by hedge funds and other institutional investors.
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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