Craig Hallum Reaffirms “Buy” Rating for MINDBODY (MB)

MINDBODY (NASDAQ:MB)‘s stock had its “buy” rating restated by investment analysts at Craig Hallum in a report released on Thursday. They presently have a $40.00 target price on the technology company’s stock, up from their prior target price of $32.00. Craig Hallum’s price target points to a potential upside of 8.70% from the company’s current price.

A number of other research firms also recently weighed in on MB. Morgan Stanley upped their target price on MINDBODY from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. BidaskClub upgraded MINDBODY from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. KeyCorp restated a “buy” rating and issued a $41.00 target price (up from $34.00) on shares of MINDBODY in a research report on Monday, January 22nd. Zacks Investment Research downgraded MINDBODY from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, UBS Group restated a “buy” rating and issued a $40.00 target price (up from $34.00) on shares of MINDBODY in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $36.38.

MINDBODY (NASDAQ:MB) opened at $36.80 on Thursday. MINDBODY has a fifty-two week low of $21.57 and a fifty-two week high of $37.25. The stock has a market capitalization of $1,780.00 and a P/E ratio of -108.24. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.20 and a quick ratio of 9.20.

MINDBODY (NASDAQ:MB) last issued its quarterly earnings data on Wednesday, February 21st. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. MINDBODY had a negative return on equity of 6.70% and a negative net margin of 8.10%. The business had revenue of $49.70 million during the quarter, compared to analyst estimates of $48.96 million. During the same period in the prior year, the company posted ($0.04) EPS. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. analysts anticipate that MINDBODY will post -0.11 earnings per share for the current fiscal year.

In other news, major shareholder Luxor Capital Group, Lp bought 43,000 shares of the business’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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brett T. White sold 10,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $31.94, for a total transaction of $319,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 92,348 shares of company stock valued at $2,883,809 in the last quarter. Insiders own 8.22% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Luxor Capital Group LP raised its stake in MINDBODY by 8.7% during the 4th quarter. Luxor Capital Group LP now owns 6,220,410 shares of the technology company’s stock valued at $189,411,000 after purchasing an additional 498,724 shares during the period. BlackRock Inc. raised its stake in MINDBODY by 2.0% during the 4th quarter. BlackRock Inc. now owns 2,460,372 shares of the technology company’s stock valued at $74,917,000 after purchasing an additional 48,837 shares during the period. Victory Capital Management Inc. raised its stake in MINDBODY by 19.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,725,271 shares of the technology company’s stock valued at $52,535,000 after purchasing an additional 283,575 shares during the period. Vanguard Group Inc. raised its stake in MINDBODY by 67.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,511,343 shares of the technology company’s stock valued at $41,109,000 after purchasing an additional 607,182 shares during the period. Finally, Ranger Investment Management L.P. raised its stake in MINDBODY by 18.2% during the 4th quarter. Ranger Investment Management L.P. now owns 862,396 shares of the technology company’s stock valued at $26,260,000 after purchasing an additional 132,911 shares during the period. 87.69% of the stock is currently 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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