Wall Street analysts expect MINDBODY Inc (NASDAQ:MB) to post $63.86 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for MINDBODY’s earnings. The highest sales estimate is $64.35 million and the lowest is $63.32 million. MINDBODY reported sales of $46.61 million during the same quarter last year, which indicates a positive year over year growth rate of 37%. The company is scheduled to announce its next quarterly earnings results on Thursday, October 25th.
On average, analysts expect that MINDBODY will report full year sales of $248.28 million for the current financial year, with estimates ranging from $246.43 million to $252.52 million. For the next fiscal year, analysts forecast that the company will post sales of $309.44 million per share, with estimates ranging from $300.40 million to $318.49 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover MINDBODY.
MINDBODY (NASDAQ:MB) last posted its earnings results on Tuesday, July 31st. The technology company reported ($0.22) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.04). MINDBODY had a negative return on equity of 6.83% and a negative net margin of 11.85%. The firm had revenue of $61.61 million for the quarter, compared to analyst estimates of $60.48 million.
A number of research firms recently issued reports on MB. BidaskClub lowered MINDBODY from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 1st. Credit Suisse Group lowered their price target on MINDBODY from $41.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, August 1st. TheStreet raised MINDBODY from a “d+” rating to a “c” rating in a report on Monday, June 18th. JPMorgan Chase & Co. raised their price target on MINDBODY to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, August 1st. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered MINDBODY from a “hold” rating to a “sell” rating in a report on Wednesday, April 25th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $37.77.
In other MINDBODY news, insider Kimberly Gail Lytikainen sold 1,004 shares of MINDBODY stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $38.73, for a total value of $38,884.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Luxor Capital Group, Lp acquired 65,019 shares of the stock in a transaction on Wednesday, August 1st. The stock was acquired at an average cost of $34.86 per share, for a total transaction of $2,266,562.34. The disclosure for this purchase can be found here. Insiders sold a total of 91,015 shares of company stock worth $3,432,613 in the last ninety days. 6.02% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in MB. Massachusetts Financial Services Co. MA acquired a new position in shares of MINDBODY during the 2nd quarter worth approximately $25,087,000. Summit Trail Advisors LLC raised its position in shares of MINDBODY by 3,560.0% during the 1st quarter. Summit Trail Advisors LLC now owns 594,494 shares of the technology company’s stock worth $594,000 after purchasing an additional 578,251 shares during the last quarter. Champlain Investment Partners LLC acquired a new position in shares of MINDBODY during the 1st quarter worth approximately $16,068,000. KAMES CAPITAL plc raised its position in shares of MINDBODY by 570.5% during the 2nd quarter. KAMES CAPITAL plc now owns 317,309 shares of the technology company’s stock worth $12,248,000 after purchasing an additional 269,983 shares during the last quarter. Finally, Luxor Capital Group LP raised its position in shares of MINDBODY by 3.1% during the 1st quarter. Luxor Capital Group LP now owns 6,410,599 shares of the technology company’s stock worth $249,372,000 after purchasing an additional 190,189 shares during the last quarter. 91.33% of the stock is currently owned by institutional investors.
Shares of NASDAQ MB traded down $0.25 during midday trading on Tuesday, reaching $36.15. 567,274 shares of the company were exchanged, compared to its average volume of 787,774. The company has a debt-to-equity ratio of 0.86, a current ratio of 9.61 and a quick ratio of 8.10. MINDBODY has a 1 year low of $21.57 and a 1 year high of $45.50.
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.
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