Brokerages Set Mindbody Inc. (MB) Target Price at $36.72

Shares of Mindbody Inc. (NASDAQ:MB) have been assigned an average rating of “Buy” from the fourteen ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $36.72.

A number of equities research analysts have recently weighed in on the company. DA Davidson reaffirmed a “buy” rating on shares of Mindbody in a report on Wednesday, May 9th. ValuEngine raised Mindbody from a “buy” rating to a “strong-buy” rating in a report on Monday, May 7th. BidaskClub raised Mindbody from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 8th. Morgan Stanley lifted their price target on Mindbody from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, May 9th. Finally, Craig Hallum cut Mindbody from a “buy” rating to a “hold” rating and set a $28.00 price target on the stock. in a report on Wednesday, May 9th.

NASDAQ MB traded down $0.45 during trading hours on Monday, reaching $38.60. The company’s stock had a trading volume of 7,938 shares, compared to its average volume of 452,282. The company has a quick ratio of 8.10, a current ratio of 8.10 and a debt-to-equity ratio of 0.06. Mindbody has a 52 week low of $37.70 and a 52 week high of $39.00. The stock has a market capitalization of $1.80 billion, a P/E ratio of -130.83 and a beta of -0.09.

Mindbody (NASDAQ:MB) last issued its earnings results on Tuesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. Mindbody had a negative net margin of 6.47% and a negative return on equity of 4.62%. The firm had revenue of $53.82 million for the quarter, compared to analysts’ expectations of $53.84 million. During the same quarter last year, the company posted ($0.03) earnings per share. Mindbody’s revenue was up 27.5% on a year-over-year basis. equities research analysts expect that Mindbody will post -0.52 earnings per share for the current year.

In other Mindbody news, CEO Richard Lee Stollmeyer sold 17,739 shares of Mindbody stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $35.76, for a total transaction of $634,346.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kimberly Gail Lytikainen sold 3,500 shares of Mindbody stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $44.66, for a total transaction of $156,310.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,075 shares of company stock worth $8,204,043. 6.02% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System boosted its stake in shares of Mindbody by 4.2% during the 3rd quarter. California State Teachers Retirement System now owns 68,032 shares of the technology company’s stock valued at $1,759,000 after buying an additional 2,725 shares during the period. California Public Employees Retirement System boosted its stake in shares of Mindbody by 26.3% during the 3rd quarter. California Public Employees Retirement System now owns 16,926 shares of the technology company’s stock valued at $438,000 after buying an additional 3,526 shares during the period. KAMES CAPITAL plc acquired a new stake in shares of Mindbody during the 4th quarter valued at $890,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Mindbody by 10.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 171,159 shares of the technology company’s stock valued at $5,212,000 after buying an additional 16,094 shares during the period. Finally, Nelson Roberts Investment Advisors LLC boosted its stake in shares of Mindbody by 2.7% during the 4th quarter. Nelson Roberts Investment Advisors LLC now owns 120,345 shares of the technology company’s stock valued at $3,665,000 after buying an additional 3,150 shares during the period. Hedge funds and other institutional investors own 88.98% of the company’s stock.

About Mindbody

MINDBODY, Inc operates a cloud-based business management software and payments platform for the small and medium-sized businesses in the wellness services industry. Its platform enables businesses to run, market, and build scheduling and online booking, performance tracking, staff management, client relationship management, integrated payment processing, retail point-of-sale, purchase tracking, inventory, hardware integration, analytics and reporting, branded Web, mobility, social integration, client acquisition dashboard, security and compliance, and integration with other cloud-based partners for yoga, Pilates, indoor cycling, group and personal training, boutique fitness, salons, spas, and integrative health businesses.

Analyst Recommendations for Mindbody (NASDAQ:MB)

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