$65.71 Million in Sales Expected for MINDBODY Inc (MB) This Quarter

Brokerages expect MINDBODY Inc (NASDAQ:MB) to announce $65.71 million in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for MINDBODY’s earnings, with the highest sales estimate coming in at $66.38 million and the lowest estimate coming in at $65.27 million. MINDBODY posted sales of $49.69 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 32.2%. The firm is expected to announce its next earnings report on Wednesday, February 20th.

According to Zacks, analysts expect that MINDBODY will report full year sales of $244.96 million for the current financial year, with estimates ranging from $244.49 million to $245.59 million. For the next year, analysts expect that the company will post sales of $296.12 million, with estimates ranging from $285.45 million to $305.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover MINDBODY.

MINDBODY (NASDAQ:MB) last issued its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. MINDBODY had a negative return on equity of 9.15% and a negative net margin of 16.91%. The business had revenue of $63.80 million during the quarter, compared to analyst estimates of $63.99 million. During the same period in the prior year, the company posted $0.01 EPS. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year.

A number of equities research analysts have weighed in on MB shares. Zacks Investment Research downgraded MINDBODY from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine upgraded MINDBODY from a “hold” rating to a “buy” rating in a research report on Wednesday, November 28th. BidaskClub downgraded MINDBODY from a “buy” rating to a “hold” rating in a research report on Thursday, November 8th. Imperial Capital cut their target price on MINDBODY from $42.00 to $36.00 and set an “outperform” rating for the company in a research report on Thursday, November 8th. Finally, DA Davidson set a $33.00 target price on MINDBODY and gave the stock a “buy” rating in a research report on Wednesday, November 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. MINDBODY currently has an average rating of “Hold” and a consensus price target of $33.70.

MB stock traded down $1.33 on Friday, reaching $26.70. The company’s stock had a trading volume of 508,250 shares, compared to its average volume of 1,107,845. MINDBODY has a 52 week low of $23.02 and a 52 week high of $45.50. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -89.00 and a beta of 0.31. The company has a debt-to-equity ratio of 0.89, a current ratio of 9.45 and a quick ratio of 9.45.

In other news, insider Kimberly Gail Lytikainen sold 9,437 shares of the stock in a transaction on Friday, September 7th. The stock was sold at an average price of $38.55, for a total value of $363,796.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Luxor Capital Group, Lp sold 78,548 shares of the stock in a transaction on Monday, November 5th. The shares were sold at an average price of $33.20, for a total value of $2,607,793.60. The disclosure for this sale can be found here. Insiders have sold a total of 123,463 shares of company stock valued at $4,276,648 in the last quarter. Insiders own 6.02% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its position in MINDBODY by 1.2% during the second quarter. FMR LLC now owns 6,565,617 shares of the technology company’s stock worth $253,433,000 after buying an additional 75,307 shares during the last quarter. Capital World Investors increased its position in MINDBODY by 2.3% during the third quarter. Capital World Investors now owns 3,650,000 shares of the technology company’s stock worth $148,373,000 after buying an additional 82,000 shares during the last quarter. BlackRock Inc. grew its position in shares of MINDBODY by 2.8% in the third quarter. BlackRock Inc. now owns 2,717,223 shares of the technology company’s stock valued at $110,454,000 after purchasing an additional 74,838 shares during the last quarter. Institutional Venture Management XIII LLC grew its position in shares of 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 valued at $102,497,000 after purchasing an additional 13,333 shares during the last quarter. Finally, SQN Investors LP grew its position in shares of MINDBODY by 40.7% in the third quarter. SQN Investors LP now owns 1,948,993 shares of the technology company’s stock valued at $79,227,000 after purchasing an additional 563,352 shares during the last quarter.

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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