MINDBODY (MB) Upgraded to “Buy” at BidaskClub

MINDBODY (NASDAQ:MB) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other analysts have also commented on MB. Zacks Investment Research upgraded shares of MINDBODY from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Wednesday, September 27th. Roth Capital restated a “buy” rating and issued a $31.50 price objective on shares of MINDBODY in a report on Thursday, September 28th. KeyCorp restated a “buy” rating and issued a $32.00 price objective on shares of MINDBODY in a report on Sunday, October 22nd. UBS Group reaffirmed a “buy” rating and set a $40.00 target price (up previously from $34.00) on shares of MINDBODY in a research note on Thursday, November 9th. Finally, DA Davidson assumed coverage on shares of MINDBODY in a research note on Wednesday, November 15th. They set a “buy” rating and a $42.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. MINDBODY presently has an average rating of “Buy” and an average price target of $33.29.

Shares of MINDBODY (NASDAQ MB) traded up $0.30 on Wednesday, reaching $35.15. 241,984 shares of the company’s stock traded hands, compared to its average volume of 353,732. 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 has a twelve month low of $21.57 and a twelve month high of $36.25. The stock has a market capitalization of $1,627.49, a price-to-earnings ratio of -92.50 and a beta of -0.31.

In related news, CEO Richard Lee Stollmeyer sold 17,741 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $30.30, for a total transaction of $537,552.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kimberly Gail Lytikainen sold 36,868 shares of the firm’s stock in a transaction that occurred 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. Insiders have sold 120,087 shares of company stock valued at $3,748,356 in the last ninety days. Insiders own 8.22% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its position in shares of MINDBODY by 2,171.3% during the second quarter. BNP Paribas Arbitrage SA now owns 4,111 shares of the technology company’s stock valued at $112,000 after acquiring an additional 3,930 shares in the last quarter. Quantbot Technologies LP increased its position 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 valued at $187,000 after acquiring an additional 2,970 shares in the last quarter. Legal & General Group Plc boosted its holdings in MINDBODY by 121.4% in the second quarter. Legal & General Group Plc now owns 9,340 shares of the technology company’s stock worth $254,000 after purchasing an additional 5,122 shares during the last quarter. ClariVest Asset Management LLC purchased a new stake in MINDBODY in the third quarter worth approximately $269,000. Finally, Nordea Investment Management AB purchased a new stake in MINDBODY in the third quarter worth approximately $269,000. 90.26% of the stock is owned by institutional investors.

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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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