MINDBODY Inc (MB) Receives Average Recommendation of “Hold” from Analysts
MINDBODY Inc (NASDAQ:MB) has been assigned a consensus recommendation of “Hold” from the seventeen brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $33.70.
Several equities research analysts have recently weighed in on the stock. William Blair assumed coverage on shares of MINDBODY in a report on Wednesday, September 26th. They issued a “market perform” rating on the stock. Wells Fargo & Co assumed coverage on shares of MINDBODY in a report on Friday, September 7th. They issued an “outperform” rating and a $45.00 target price on the stock. Imperial Capital lowered their target price on shares of MINDBODY from $42.00 to $36.00 and set an “outperform” rating on the stock in a report on Thursday, November 8th. JPMorgan Chase & Co. lowered shares of MINDBODY from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $48.00 to $31.00 in a report on Wednesday, November 7th. Finally, ValuEngine lowered shares of MINDBODY from a “buy” rating to a “hold” rating in a report on Wednesday, November 7th.
Shares of MB stock traded down $1.33 during mid-day trading 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 1-year low of $23.02 and a 1-year high of $45.50. The stock has a market cap 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 quick ratio of 9.45 and a current ratio of 9.45.
In other news, CEO Richard Lee Stollmeyer sold 17,739 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $40.59, for a total value of $720,026.01. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kimberly Gail Lytikainen sold 9,437 shares of the firm’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $38.55, for a total transaction of $363,796.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 123,463 shares of company stock worth $4,276,648. Insiders own 6.02% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of MB. Rhumbline Advisers raised its position in shares of MINDBODY by 4.4% in the 2nd quarter. Rhumbline Advisers now owns 41,030 shares of the technology company’s stock valued at $1,584,000 after acquiring an additional 1,737 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of MINDBODY by 6.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,443 shares of the technology company’s stock valued at $1,278,000 after acquiring an additional 1,774 shares during the period. JPMorgan Chase & Co. raised its position in shares of MINDBODY by 13.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,345 shares of the technology company’s stock valued at $624,000 after acquiring an additional 1,872 shares during the period. Nelson Roberts Investment Advisors LLC raised its position in shares of MINDBODY by 2.0% in the 3rd quarter. Nelson Roberts Investment Advisors LLC now owns 126,346 shares of the technology company’s stock valued at $5,136,000 after acquiring an additional 2,445 shares during the period. Finally, Arthur M. Cohen & Associates LLC raised its position in shares of MINDBODY by 27.8% in the 2nd quarter. Arthur M. Cohen & Associates LLC now owns 11,500 shares of the technology company’s stock valued at $444,000 after acquiring an additional 2,500 shares during the period.
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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