MINDBODY (MB) Given a $33.00 Price Target at DA Davidson

MINDBODY (NASDAQ:MB) has been given a $33.00 price target by research analysts at DA Davidson in a research report issued to clients and investors on Wednesday, The Fly reports. The firm presently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective indicates a potential upside of 23.23% from the company’s previous close.

Several other research firms also recently issued reports on MB. Roth Capital restated a “neutral” rating and issued a $32.00 price target on shares of MINDBODY in a research note on Wednesday. JPMorgan Chase & Co. downgraded MINDBODY from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $48.00 to $31.00 in a research note on Wednesday. KeyCorp restated a “buy” rating and issued a $38.00 price target on shares of MINDBODY in a research note on Wednesday. BidaskClub upgraded MINDBODY from a “hold” rating to a “buy” rating in a research note on Tuesday, October 30th. Finally, Zacks Investment Research upgraded MINDBODY from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $35.73.

Shares of NASDAQ MB traded down $5.85 during midday trading on Wednesday, hitting $26.78. 57,252 shares of the company’s stock were exchanged, compared to its average volume of 968,644. The company has a current ratio of 9.61, a quick ratio of 9.61 and a debt-to-equity ratio of 0.86. MINDBODY has a 12 month low of $28.70 and a 12 month high of $45.50. The company has a market capitalization of $1.60 billion, a P/E ratio of -93.73 and a beta of 0.35.

MINDBODY (NASDAQ:MB) last issued its earnings results on Tuesday, November 6th. The technology company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. MINDBODY had a negative return on equity of 6.83% and a negative net margin of 11.85%. The company had revenue of $63.80 million during the quarter, compared to the consensus estimate of $63.99 million. During the same period in the previous year, the company posted $0.01 EPS. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. Analysts predict that MINDBODY will post -0.63 EPS for the current fiscal year.

In other news, major shareholder Luxor Capital Group, Lp sold 78,548 shares of the company’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $33.20, for a total transaction of $2,607,793.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $40.59, for a total value of $720,026.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,809 shares of company stock valued at $4,430,896. Corporate insiders own 6.02% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Nelson Roberts Investment Advisors LLC raised its holdings in shares of MINDBODY by 1.1% during the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 123,901 shares of the technology company’s stock worth $4,783,000 after buying an additional 1,325 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of MINDBODY by 4.4% during the 2nd quarter. Rhumbline Advisers now owns 41,030 shares of the technology company’s stock worth $1,584,000 after buying an additional 1,737 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of MINDBODY by 6.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,443 shares of the technology company’s stock worth $1,278,000 after buying an additional 1,774 shares in the last quarter. Arthur M. Cohen & Associates LLC raised its holdings in shares of MINDBODY by 27.8% during the 2nd quarter. Arthur M. Cohen & Associates LLC now owns 11,500 shares of the technology company’s stock worth $444,000 after buying an additional 2,500 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of MINDBODY by 40.9% during the 1st quarter. JPMorgan Chase & Co. now owns 13,205 shares of the technology company’s stock worth $513,000 after buying an additional 3,832 shares in the last quarter. Hedge funds and other institutional investors own 98.86% of the company’s stock.

MINDBODY Company Profile

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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