MINDBODY (MB) PT Raised to $36.00 at Credit Suisse Group

MINDBODY (NASDAQ:MB) had its target price hoisted by stock analysts at Credit Suisse Group from $33.00 to $36.00 in a research report issued on Thursday. The firm currently has an “outperform” rating on the technology company’s stock. Credit Suisse Group’s price objective points to a potential upside of 7.95% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. DA Davidson initiated coverage on shares of MINDBODY in a research note on Wednesday, November 15th. They issued a “buy” rating and a $42.00 target price on the stock. Jefferies Group raised shares of MINDBODY from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Monday, January 8th. KeyCorp reaffirmed a “buy” rating and set a $41.00 price target (up from $34.00) on shares of MINDBODY in a report on Monday, January 22nd. BidaskClub lowered shares of MINDBODY from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 7th. Finally, UBS Group reaffirmed a “buy” rating and set a $40.00 price target (up from $34.00) on shares of MINDBODY in a report on Thursday, November 9th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $35.86.

Shares of MINDBODY (NASDAQ MB) traded down $0.10 during mid-day trading on Thursday, hitting $33.35. 551,400 shares of the stock were exchanged, compared to its average volume of 365,008. MINDBODY has a fifty-two week low of $21.57 and a fifty-two week high of $36.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.20 and a current ratio of 9.20. The stock has a market cap of $1,562.11, a P/E ratio of -87.76 and a beta of -0.08.

MINDBODY (NASDAQ:MB) last issued its earnings results on Wednesday, February 21st. The technology company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. MINDBODY had a negative net margin of 9.26% and a negative return on equity of 8.39%. The business had revenue of $49.70 million for the quarter, compared to the consensus estimate of $48.96 million. During the same quarter last year, the firm posted ($0.04) EPS. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. equities analysts forecast that MINDBODY will post -0.31 earnings per share for the current fiscal year.

In other MINDBODY news, CEO Richard Lee Stollmeyer sold 17,739 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $31.95, for a total transaction of $566,761.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Luxor Capital Group, Lp acquired 43,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were bought at an average cost of $31.36 per share, with a total value of $1,348,480.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 92,348 shares of company stock valued at $2,883,809. Company insiders own 8.22% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. boosted its holdings in shares of MINDBODY by 153.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 155,065 shares of the technology company’s stock valued at $4,009,000 after buying an additional 93,865 shares during the period. Granahan Investment Management Inc. MA boosted its holdings in shares of MINDBODY by 13.3% in the 3rd 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. Northern Trust Corp boosted its holdings in shares of MINDBODY by 103.2% in the 2nd quarter. Northern Trust Corp now owns 437,838 shares of the technology company’s stock valued at $11,909,000 after buying an additional 222,348 shares during the period. 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 valued at $41,109,000 after buying an additional 607,182 shares during the period. Finally, American International Group Inc. boosted its holdings in shares of MINDBODY by 23.5% in the 3rd quarter. American International Group Inc. now owns 28,241 shares of the technology company’s stock valued at $730,000 after buying an additional 5,380 shares during the period. 87.69% of the stock is owned by institutional investors.

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About MINDBODY

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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