MINDBODY Inc (NASDAQ:MB) has been given a consensus recommendation of “Buy” by the fourteen brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $32.86.

A number of research firms have issued reports on MB. KeyCorp reiterated a “buy” rating and issued a $32.00 target price on shares of MINDBODY in a research report on Sunday, October 22nd. BidaskClub upgraded shares of MINDBODY from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Jefferies Group began coverage on shares of MINDBODY in a research report on Thursday, August 24th. They issued a “hold” rating and a $26.00 target price for the company. Zacks Investment Research upgraded shares of MINDBODY from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Wednesday, September 27th. Finally, DA Davidson began coverage on shares of MINDBODY in a research report on Wednesday, November 15th. They issued a “buy” rating and a $42.00 target price for the company.

In other MINDBODY news, major shareholder Luxor Capital Group, Lp purchased 420,048 shares of the business’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 acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kimberly Gail Lytikainen sold 36,868 shares of the firm’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $30.11, for a total transaction of $1,110,095.48. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 955,594 shares of company stock worth $25,273,140 and have sold 215,585 shares worth $6,370,392. 8.22% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in MINDBODY by 0.3% in the 2nd quarter. Parallel Advisors LLC now owns 14,920 shares of the technology company’s stock valued at $387,000 after buying an additional 45 shares during the last quarter. Legal & General Group Plc grew its stake in 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 buying an additional 166 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in 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 buying an additional 1,678 shares during the last quarter. Bank of America Corp DE grew its stake in MINDBODY by 5.2% in the 1st quarter. Bank of America Corp DE now owns 35,657 shares of the technology company’s stock valued at $979,000 after buying an additional 1,762 shares during the last quarter. Finally, Nationwide Fund Advisors grew its stake in MINDBODY by 8.7% in the 3rd quarter. Nationwide Fund Advisors now owns 22,669 shares of the technology company’s stock valued at $586,000 after buying an additional 1,814 shares during the last quarter. Institutional investors and hedge funds own 90.16% of the company’s stock.

Shares of MINDBODY (NASDAQ:MB) opened at $31.85 on Friday. The company has a current ratio of 9.20, a quick ratio of 9.20 and a debt-to-equity ratio of 0.06. MINDBODY has a 12-month low of $19.95 and a 12-month high of $36.25.

MINDBODY (NASDAQ:MB) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. The business had revenue of $46.60 million during 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 8.39%. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.09) EPS. sell-side analysts forecast that MINDBODY will post -0.31 EPS for the current fiscal year.

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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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