MINDBODY (MB) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of MINDBODY (NASDAQ:MB) from a hold rating to a buy rating in a research report released on Tuesday morning.

Other analysts have also recently issued reports about the stock. Credit Suisse Group decreased their price target on shares of MINDBODY from $41.00 to $38.00 and set a neutral rating on the stock in a research note on Wednesday, August 1st. JPMorgan Chase & Co. increased their price target on shares of MINDBODY to $48.00 and gave the company an overweight rating in a research note on Wednesday, August 1st. They noted that the move was a valuation call. Morgan Stanley decreased their price target on shares of MINDBODY from $42.00 to $40.00 and set an equal weight rating on the stock in a research note on Wednesday, August 1st. ValuEngine raised shares of MINDBODY from a buy rating to a strong-buy rating in a research note on Friday, July 6th. Finally, KeyCorp reissued a buy rating and set a $47.00 price target on shares of MINDBODY in a research note on Wednesday, August 1st. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $40.20.

Shares of MINDBODY stock opened at $33.50 on Tuesday. The company has a current ratio of 9.61, a quick ratio of 9.61 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -111.67 and a beta of -0.20. MINDBODY has a 1-year low of $28.70 and a 1-year high of $45.50.

MINDBODY (NASDAQ:MB) last issued its quarterly earnings data on Tuesday, July 31st. The technology company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.04). The firm had revenue of $61.61 million for the quarter, compared to the consensus estimate of $60.48 million. MINDBODY had a negative return on equity of 6.83% and a negative net margin of 11.85%. As a group, equities analysts anticipate that MINDBODY will post -0.63 EPS for the current year.

In other MINDBODY news, CEO Richard Lee Stollmeyer sold 17,739 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $40.59, for a total value of $720,026.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kimberly Gail Lytikainen sold 9,437 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $38.55, for a total transaction of $363,796.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,316 shares of company stock worth $1,859,448. Insiders own 6.02% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. AGF Investments Inc. raised its holdings in MINDBODY by 124.4% in the second quarter. AGF Investments Inc. now owns 128,340 shares of the technology company’s stock worth $4,954,000 after purchasing an additional 71,136 shares during the period. Nelson Roberts Investment Advisors LLC raised its holdings in MINDBODY by 2.0% in the third quarter. Nelson Roberts Investment Advisors LLC now owns 126,346 shares of the technology company’s stock worth $5,136,000 after purchasing an additional 2,445 shares during the period. Mutual of America Capital Management LLC raised its holdings in MINDBODY by 36.7% in the second quarter. Mutual of America Capital Management LLC now owns 23,100 shares of the technology company’s stock worth $892,000 after purchasing an additional 6,200 shares during the period. Institutional Venture Management XIII LLC raised its holdings in MINDBODY by 0.5% in the second quarter. Institutional Venture Management XIII LLC now owns 2,655,365 shares of the technology company’s stock worth $102,497,000 after purchasing an additional 13,333 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new stake in MINDBODY in the third quarter worth $4,571,000. Institutional investors own 97.07% 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.

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