Mindbody’s (MB) Buy Rating Reaffirmed at Pacific Crest
Pacific Crest reiterated their buy rating on shares of Mindbody Inc. (NASDAQ:MB) in a research report released on Tuesday. Pacific Crest currently has a $22.00 price target on the stock, up from their prior price target of $20.00.
MB has been the subject of several other research reports. Imperial Capital reaffirmed an outperform rating and issued a $22.00 price target (up previously from $18.00) on shares of Mindbody in a research report on Friday, July 29th. KeyCorp lifted their price target on Mindbody from $20.00 to $22.00 and gave the stock an overweight rating in a research report on Tuesday, September 13th. Morgan Stanley boosted their target price on Mindbody from $17.00 to $20.00 and gave the stock an equal weight rating in a research report on Thursday, July 28th. Zacks Investment Research lowered Mindbody from a buy rating to a hold rating in a research report on Wednesday, July 6th. Finally, JMP Securities reissued a buy rating on shares of Mindbody in a research report on Monday, June 6th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Mindbody has a consensus rating of Buy and an average price target of $21.17.
Mindbody (NASDAQ:MB) opened at 17.17 on Tuesday. Mindbody has a 52-week low of $9.20 and a 52-week high of $19.32. The company’s market capitalization is $682.08 million. The stock has a 50 day moving average of $17.53 and a 200-day moving average of $15.09.
Mindbody (NASDAQ:MB) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.04. The firm earned $33.60 million during the quarter, compared to analyst estimates of $33.22 million. Mindbody had a negative return on equity of 30.95% and a negative net margin of 27.12%. Mindbody’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) EPS. On average, equities research analysts anticipate that Mindbody will post ($0.44) earnings per share for the current fiscal year.
In related news, insider Chet Ian Brandenburg sold 4,500 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $15.91, for a total value of $71,595.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Lee Stollmeyer sold 21,760 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $15.93, for a total transaction of $346,636.80. The disclosure for this sale can be found here. 30.62% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in MB. American International Group Inc. raised its stake in Mindbody by 88.8% in the second quarter. American International Group Inc. now owns 8,293 shares of the company’s stock valued at $134,000 after buying an additional 3,900 shares in the last quarter. Strs Ohio purchased a new stake in Mindbody during the second quarter valued at about $167,000. Alliancebernstein L.P. purchased a new stake in Mindbody during the second quarter valued at about $179,000. Metropolitan Life Insurance Co. NY purchased a new stake in Mindbody during the second quarter valued at about $179,000. Finally, A.R.T. Advisors LLC purchased a new stake in Mindbody during the second quarter valued at about $200,000. 38.49% of the stock is owned by institutional investors.
Mindbody Company Profile
MINDBODY, Inc is a provider of cloud-based business management software for the wellness services industry and operates as a consumer marketplace with over 51,000 local business subscribers on its platform in over 130 countries and territories. The Company’s subscribers provide a range of wellness services to approximately 28 million active consumers.
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