MINDBODY (MB) Rating Reiterated by KeyCorp

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.

MINDBODY (NASDAQ:MB) last announced its quarterly 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. MINDBODY had a negative return on equity of 8.39% and a negative net margin of 9.26%. The firm had revenue of $46.60 million for the quarter, compared to analysts’ expectations of $45.59 million. During the same period in the prior year, the business posted ($0.09) earnings per share. The business’s revenue was up 32.0% compared to the same quarter last year. equities research analysts forecast that MINDBODY will post -0.31 earnings per share for the current fiscal year.

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.

Analyst Recommendations for MINDBODY (NASDAQ:MB)

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