MINDBODY (NASDAQ:MB) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.

Several other equities analysts have also recently issued reports on the stock. KeyCorp restated a “buy” rating and set a $32.00 target price on shares of MINDBODY in a research note on Sunday, October 22nd. Roth Capital restated a “buy” rating and set a $31.50 target price on shares of MINDBODY in a research note on Thursday, September 28th. Zacks Investment Research upgraded shares of MINDBODY from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Wednesday, September 27th. Craig Hallum reiterated a “buy” rating and issued a $30.00 price objective on shares of MINDBODY in a research note on Monday, September 25th. Finally, DA Davidson initiated coverage on shares of MINDBODY in a research note on Wednesday, November 15th. They issued a “buy” rating and a $42.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. MINDBODY currently has a consensus rating of “Buy” and an average target price of $32.54.

Shares of MINDBODY (NASDAQ MB) traded down $0.45 during midday trading on Thursday, reaching $30.15. 446,888 shares of the company’s stock traded hands, compared to its average volume of 433,914. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.20 and a quick ratio of 9.20. MINDBODY has a 1-year low of $19.65 and a 1-year high of $36.25.

MINDBODY (NASDAQ:MB) last issued its quarterly earnings data on Thursday, October 26th. The technology company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. The business had revenue of $46.60 million during the quarter, compared to analyst estimates of $45.59 million. MINDBODY had a negative net margin of 9.26% and a negative return on equity of 8.39%. The company’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.09) EPS. equities research analysts expect that MINDBODY will post -0.31 EPS for the current year.

In other MINDBODY news, major shareholder Luxor Capital Group, Lp bought 420,048 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was acquired at an average cost of $24.93 per share, for a total transaction of $10,471,796.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kunal Mittal sold 10,000 shares of MINDBODY stock in a transaction on Monday, November 27th. The stock was sold at an average price of $35.00, for a total value of $350,000.00. The disclosure for this sale can be found here. Over the last three months, insiders purchased 955,594 shares of company stock valued at $25,273,140 and sold 178,717 shares valued at $5,260,296. Company insiders own 8.22% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA grew its stake in MINDBODY by 2,171.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,111 shares of the technology company’s stock valued at $112,000 after purchasing an additional 3,930 shares during the last quarter. Legal & General Group Plc grew its stake in MINDBODY by 4.1% in the first quarter. Legal & General Group Plc now owns 4,218 shares of the technology company’s stock valued at $116,000 after purchasing an additional 166 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in MINDBODY by 49.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,046 shares of the technology company’s stock valued at $137,000 after purchasing an additional 1,678 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of MINDBODY by 75.5% during the second quarter. Quantbot Technologies LP now owns 6,902 shares of the technology company’s stock worth $187,000 after acquiring an additional 2,970 shares during the last quarter. Finally, Credit Suisse AG purchased a new stake in shares of MINDBODY during the first quarter worth about $220,000. Institutional investors and hedge funds own 90.16% of the company’s stock.

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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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