MuleSoft (MULE) Cut to Strong Sell at Zacks Investment Research

MuleSoft (NYSE:MULE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday.

According to Zacks, “MuleSoft, Inc. owns and operates Anypoint Platform, an integration solution for connecting applications, data sources, and devices, both on-premises and in the cloud. Its hybrid integration platform includes iPaaS, ESB and a unified solution for API management, design and publishing. MuleSoft, Inc. is headquartered in San Francisco, California. “

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MULE has been the subject of several other reports. Barclays cut shares of MuleSoft from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 12th. Canaccord Genuity cut shares of MuleSoft from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a report on Wednesday, March 21st. Piper Jaffray cut shares of MuleSoft from an “overweight” rating to a “neutral” rating in a report on Monday, April 2nd. William Blair cut shares of MuleSoft from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 21st. Finally, Oppenheimer increased their price objective on shares of MuleSoft from $32.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, March 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $33.33.

NYSE MULE opened at $44.62 on Thursday. MuleSoft has a 52 week low of $19.40 and a 52 week high of $44.72. The stock has a market capitalization of $5,880.68 and a price-to-earnings ratio of -66.60.

MuleSoft (NYSE:MULE) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.07. The business had revenue of $88.70 million during the quarter, compared to analysts’ expectations of $83.56 million. MuleSoft had a negative net margin of 26.98% and a negative return on equity of 32.10%. The business’s revenue was up 60.1% on a year-over-year basis. During the same period last year, the firm posted ($0.10) earnings per share. sell-side analysts forecast that MuleSoft will post -0.63 earnings per share for the current year.

In related news, Director Gary Little sold 22,049 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $25.02, for a total transaction of $551,665.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Dao sold 37,500 shares of the stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $34.08, for a total transaction of $1,278,000.00. Following the sale, the insider now directly owns 38,970 shares of the company’s stock, valued at $1,328,097.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 435,788 shares of company stock valued at $13,285,955.

A number of hedge funds have recently added to or reduced their stakes in MULE. Sylebra HK Co Ltd lifted its stake in MuleSoft by 314.5% during the fourth quarter. Sylebra HK Co Ltd now owns 4,589,312 shares of the company’s stock valued at $106,747,000 after purchasing an additional 3,482,183 shares during the last quarter. Whale Rock Capital Management LLC lifted its stake in MuleSoft by 2,502.3% during the fourth quarter. Whale Rock Capital Management LLC now owns 2,536,291 shares of the company’s stock valued at $58,994,000 after purchasing an additional 2,438,826 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in MuleSoft during the fourth quarter valued at approximately $38,186,000. Jennison Associates LLC lifted its stake in MuleSoft by 76.9% during the fourth quarter. Jennison Associates LLC now owns 1,781,509 shares of the company’s stock valued at $41,438,000 after purchasing an additional 774,324 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in MuleSoft by 138.1% during the fourth quarter. Millennium Management LLC now owns 1,144,809 shares of the company’s stock valued at $26,628,000 after purchasing an additional 663,972 shares during the last quarter. 51.06% of the stock is owned by institutional investors and hedge funds.

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MuleSoft Company Profile

MuleSoft, Inc provides Anypoint Platform that allows customers to connect their applications, data, and devices in the United States, the United Kingdom, and internationally. Its platform also enables a self-serve infrastructure through discoverable building blocks or nodes that can be used and reused to compose applications.

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