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.
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.
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