MINDBODY, Inc. (MB) Now Covered by DA Davidson

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.

Analyst Recommendations for MINDBODY (NASDAQ:MB)

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