MINDBODY Inc (MB) Receives Consensus Recommendation of “Buy” from Brokerages
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.
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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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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