MINDBODY (MB) Releases Q4 2018 Earnings Guidance

MINDBODY (NASDAQ:MB) updated its fourth quarter 2018 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $-0.1–0.07 for the period, compared to the Thomson Reuters consensus estimate of $-0.06. The company issued revenue guidance of $65-67 million, compared to the consensus revenue estimate of $68.14 million.

A number of research analysts have recently commented on the stock. BidaskClub raised shares of MINDBODY from a hold rating to a buy rating in a research report on Tuesday, October 30th. JPMorgan Chase & Co. raised their target price on shares of MINDBODY to $48.00 and gave the stock an overweight rating in a research note on Wednesday, August 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of MINDBODY from a sell rating to a hold rating in a research note on Thursday, July 12th. KeyCorp restated a buy rating and set a $47.00 target price on shares of MINDBODY in a research note on Wednesday, August 1st. Finally, Morgan Stanley cut their target price on shares of MINDBODY from $42.00 to $40.00 and set an equal weight rating for the company in a research note on Wednesday, August 1st. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. MINDBODY currently has an average rating of Buy and an average target price of $40.20.

Shares of NASDAQ MB traded down $0.96 during mid-day trading on Tuesday, reaching $32.63. 1,331,371 shares of the company were exchanged, compared to its average volume of 589,335. The company has a debt-to-equity ratio of 0.86, a quick ratio of 9.61 and a current ratio of 9.61. The stock has a market cap of $1.60 billion, a PE ratio of -108.77 and a beta of 0.35. MINDBODY has a twelve month low of $28.70 and a twelve month high of $45.50.

In other MINDBODY news, Director Adam L. Miller acquired 3,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The stock was acquired at an average price of $35.66 per share, for a total transaction of $106,980.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of MINDBODY stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $40.59, for a total transaction of $720,026.01. The disclosure for this sale can be found here. Insiders sold a total of 127,809 shares of company stock valued at $4,430,896 in the last quarter. Corporate insiders own 6.02% of the company’s stock.

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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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