KeyCorp reaffirmed their hold rating on shares of MINDBODY, Inc. (NASDAQ:MB) in a report released on Thursday morning.

“We are lowering our estimates slightly for this year and next to factor in slightly lower growth assumptions on high-quality subscribers. We maintain Sector Weight based on valuation after shares rose 26% during 1H17 (vs. Nasdaq +14%) coupled with higher execution risk during a subscriber transition year. Key Investment Points Payments momentum and mix shift offset increasing churn. Revenue was in line with consensus on 31% y/y growth to $44.1M. Transactional payment revenue was robust at 37% y/y revenue growth, increasing the payment mix to 40% of sales from ~37% two years ago. Price increases implemented at the beginning of the year coupled with a mix shift toward high-value subscribers contributed to accelerating growth in average revenue per subscriber (ARPS) of 21% y/y vs. 16% last quarter.”,” KeyCorp’s analyst wrote.

Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research raised shares of MINDBODY from a sell rating to a hold rating in a research note on Friday, May 19th. J P Morgan Chase & Co assumed coverage on shares of MINDBODY in a research note on Friday, June 9th. They set an overweight rating and a $38.00 price target on the stock. Credit Suisse Group lifted their price target on shares of MINDBODY from $27.00 to $31.00 and gave the stock an outperform rating in a research note on Monday, May 15th. Morgan Stanley lifted their price target on shares of MINDBODY from $27.00 to $29.00 and gave the stock an equal weight rating in a research note on Friday, May 5th. Finally, Pacific Crest downgraded shares of MINDBODY from an overweight rating to a sector weight rating in a research note on Friday, May 5th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $29.55.

Shares of MINDBODY (NASDAQ:MB) opened at 25.90 on Thursday. The stock’s 50 day moving average price is $26.66 and its 200-day moving average price is $26.61. MINDBODY has a 52-week low of $16.71 and a 52-week high of $29.75. The stock’s market cap is $1.20 billion.

MINDBODY (NASDAQ:MB) last posted its earnings results on Wednesday, July 26th. The technology company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. The business had revenue of $44.10 million for the quarter, compared to analyst estimates of $44.11 million. MINDBODY had a negative net margin of 11.34% and a negative return on equity of 16.65%. The business’s quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.10) EPS. On average, analysts predict that MINDBODY will post ($0.10) earnings per share for the current fiscal year.

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In other news, insider Bradford Lee Wills sold 1,043 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $28.08, for a total value of $29,287.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $26.16, for a total transaction of $464,052.24. The disclosure for this sale can be found here. In the last three months, insiders bought 1,096,818 shares of company stock valued at $29,426,735 and sold 42,241 shares valued at $1,151,516. 8.22% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP increased its stake in MINDBODY by 96.3% in the first quarter. Quantbot Technologies LP now owns 3,932 shares of the technology company’s stock valued at $107,000 after buying an additional 1,929 shares during the last quarter. Legal & General Group Plc raised its position in MINDBODY by 4.1% in the first quarter. Legal & General Group Plc now owns 4,218 shares of the technology company’s stock valued at $116,000 after buying an additional 166 shares during the period. Credit Suisse AG acquired a new position in MINDBODY during the first quarter valued at approximately $220,000. American International Group Inc. raised its position in MINDBODY by 7.1% in the first quarter. American International Group Inc. now owns 8,871 shares of the technology company’s stock valued at $244,000 after buying an additional 588 shares during the period. Finally, Arthur M. Cohen & Associates LLC acquired a new position in MINDBODY during the second quarter valued at approximately $235,000. 77.08% of the stock is owned by institutional investors.

About MINDBODY

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.

Analyst Recommendations for MINDBODY (NASDAQ:MB)

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