Analysts at DA Davidson initiated coverage on shares of MINDBODY, Inc. (NASDAQ:MB) in a note issued to investors on Wednesday. The firm set a “buy” rating and a $42.00 price target on the technology company’s stock. DA Davidson’s target price would indicate a potential upside of 23.35% from the stock’s previous close.
Other analysts have also recently issued research reports about the company. KeyCorp raised MINDBODY from a “sector weight” rating to an “overweight” rating and boosted their price target for the stock from $16.95 to $32.00 in a research report on Friday, September 22nd. BidaskClub cut MINDBODY from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. UBS AG reaffirmed a “buy” rating and issued a $40.00 price target (up previously from $34.00) on shares of MINDBODY in a research report on Thursday, November 9th. Roth Capital reaffirmed a “buy” rating and issued a $31.50 price target on shares of MINDBODY in a research report on Thursday, September 28th. Finally, Jefferies Group LLC began coverage on MINDBODY in a research report on Thursday, August 24th. They issued a “hold” rating and a $26.00 price target for the company. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. MINDBODY currently has a consensus rating of “Buy” and an average price target of $32.54.
Shares of MINDBODY (NASDAQ MB) traded up $1.75 during mid-day trading on Wednesday, hitting $34.05. The stock had a trading volume of 431,600 shares, compared to its average volume of 431,041. MINDBODY has a twelve month low of $19.50 and a twelve month high of $34.40. 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 (NASDAQ:MB) last released its quarterly earnings data on Thursday, October 26th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. The firm had revenue of $46.60 million during the quarter, compared to analysts’ expectations of $45.59 million. MINDBODY had a negative return on equity of 8.39% and a negative net margin of 9.26%. The business’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) earnings per share. equities research analysts anticipate that MINDBODY will post -0.31 EPS for the current year.
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In related news, CEO Richard Lee Stollmeyer sold 17,739 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $31.16, for a total transaction of $552,747.24. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Luxor Capital Group, Lp purchased 420,048 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were purchased at an average price of $24.93 per share, for a total transaction of $10,471,796.64. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 955,594 shares of company stock worth $25,273,140 and sold 168,717 shares worth $4,684,727. Insiders own 8.22% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of MINDBODY by 481.5% in the 2nd quarter. FMR LLC now owns 3,150,890 shares of the technology company’s stock worth $85,705,000 after acquiring an additional 2,609,059 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of MINDBODY in the 2nd quarter worth approximately $37,529,000. Vanguard Group Inc. boosted its holdings in shares of MINDBODY by 67.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,511,343 shares of the technology company’s stock worth $41,109,000 after acquiring an additional 607,182 shares in the last quarter. State Street Corp boosted its holdings in shares of MINDBODY by 151.3% in the 2nd quarter. State Street Corp now owns 620,907 shares of the technology company’s stock worth $16,885,000 after acquiring an additional 373,828 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of MINDBODY by 44.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,110,900 shares of the technology company’s stock worth $30,216,000 after acquiring an additional 340,300 shares in the last quarter. Institutional investors own 84.50% of the company’s stock.
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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