MINDBODY, Inc. (MB) Receives Average Rating of “Buy” from Brokerages
Shares of MINDBODY, Inc. (NASDAQ:MB) have received an average rating of “Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $31.50.
MB has been the subject of several recent analyst reports. UBS AG reaffirmed a “buy” rating and set a $32.00 price objective (up previously from $30.00) on shares of MINDBODY in a research note on Wednesday, June 14th. BidaskClub cut shares of MINDBODY from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Roth Capital set a $32.00 price objective on shares of MINDBODY and gave the company a “buy” rating in a research note on Tuesday, June 6th. Zacks Investment Research raised shares of MINDBODY from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Thursday, July 6th. Finally, Morgan Stanley lifted their target price on shares of MINDBODY from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday, May 5th.
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In related news, major shareholder Luxor Capital Group, Lp bought 257,500 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was acquired at an average cost of $27.95 per share, for a total transaction of $7,197,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kimberly Gail Lytikainen sold 22,939 shares of MINDBODY stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $28.06, for a total transaction of $643,668.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,980 shares of company stock valued at $1,855,997. 8.22% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of MINDBODY by 481.5% in the second quarter. FMR LLC now owns 3,150,890 shares of the technology company’s stock worth $85,705,000 after buying an additional 2,609,059 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of MINDBODY by 67.2% in the second quarter. Vanguard Group Inc. now owns 1,511,343 shares of the technology company’s stock worth $41,109,000 after buying an additional 607,182 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of MINDBODY by 0.7% in the first quarter. Clearbridge Investments LLC now owns 1,484,458 shares of the technology company’s stock worth $40,748,000 after buying an additional 9,596 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of MINDBODY during the second quarter worth $37,529,000. Finally, JPMorgan Chase & Co. raised its stake in shares of MINDBODY by 439.4% in the first quarter. JPMorgan Chase & Co. now owns 1,225,145 shares of the technology company’s stock worth $33,630,000 after buying an additional 998,004 shares during the last quarter. Institutional investors and hedge funds own 71.49% of the company’s stock.
Shares of MINDBODY (NASDAQ MB) traded up 1.94% during mid-day trading on Friday, hitting $23.60. 342,328 shares of the stock were exchanged. The stock’s market capitalization is $1.09 billion. MINDBODY has a 52 week low of $16.71 and a 52 week high of $29.75. The stock’s 50-day moving average is $25.75 and its 200-day moving average is $26.56.
MINDBODY (NASDAQ:MB) last issued its quarterly earnings data on Wednesday, July 26th. The technology company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. The company had revenue of $44.10 million during the quarter, compared to analysts’ expectations of $44.11 million. MINDBODY had a negative net margin of 11.34% and a negative return on equity of 12.49%. MINDBODY’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) earnings per share. Analysts forecast that MINDBODY will post ($0.09) earnings per share for the current fiscal year.
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 local business subscribers on its platform. The Company’s subscribers provide a range of wellness services to active consumers. Its integrated software and payments platform helps business owners in the wellness services industry run, market and build their businesses.
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