MINDBODY (NASDAQ:MB)‘s stock had its “buy” rating reaffirmed by equities research analysts at KeyCorp in a report issued on Monday. They currently have a $41.00 price target on the technology company’s stock, up from their prior price target of $34.00. KeyCorp’s price target points to a potential upside of 19.36% from the stock’s current price.
Other analysts have also recently issued reports about the company. BidaskClub upgraded MINDBODY from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. UBS Group restated a “buy” rating and set a $40.00 target price (up previously from $34.00) on shares of MINDBODY in a report on Thursday, November 9th. Roth Capital restated a “buy” rating and set a $31.50 target price on shares of MINDBODY in a report on Thursday, September 28th. Jefferies Group upgraded MINDBODY from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Monday, January 8th. Finally, Craig Hallum restated a “buy” rating and set a $30.00 target price on shares of MINDBODY in a report on Monday, September 25th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $33.29.
Shares of MINDBODY (MB) traded up $1.35 during trading hours on Monday, reaching $34.35. The company’s stock had a trading volume of 322,900 shares, compared to its average volume of 442,138. MINDBODY has a 52-week low of $21.57 and a 52-week high of $36.25. The company has a market capitalization of $1,600.00 and a PE ratio of -92.84. The company has a quick ratio of 9.20, a current ratio of 9.20 and a debt-to-equity ratio of 0.06.
In related news, insider Kimberly Gail Lytikainen sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $28.39, for a total value of $1,419,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kunal Mittal sold 5,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $30.00, for a total value of $150,000.00. The disclosure for this sale can be found here. Insiders have sold 175,087 shares of company stock worth $5,317,856 in the last 90 days. Company insiders own 8.22% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. boosted its holdings in MINDBODY by 10.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 171,159 shares of the technology company’s stock valued at $5,212,000 after acquiring an additional 16,094 shares during the last quarter. KAMES CAPITAL plc acquired a new position in MINDBODY in the fourth quarter valued at about $890,000. California Public Employees Retirement System lifted its stake in MINDBODY by 26.3% in the third quarter. California Public Employees Retirement System now owns 16,926 shares of the technology company’s stock valued at $438,000 after buying an additional 3,526 shares during the period. Davidson Kempner Capital Management LP acquired a new position in MINDBODY in the third quarter valued at about $4,575,000. Finally, Granahan Investment Management Inc. MA lifted its stake in MINDBODY by 13.3% in the third quarter. Granahan Investment Management Inc. MA now owns 446,766 shares of the technology company’s stock valued at $11,549,000 after buying an additional 52,521 shares during the period. Institutional investors and hedge funds own 90.26% of the company’s stock.
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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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