MINDBODY (NASDAQ:MB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “MINDBODY, Inc. develops cloud-based business management software and payments platform for the wellness services industry. Its platform enables businesses to manage class and appointment schedules, staff members, client information, online bookings, inventory, payroll and retail sales for yoga, Pilates, barre, indoor cycling, personal training, martial arts and dance exercise, as well as spas, salons, music instruction studios, dance studios, childrens activity center and integrative health centers. MINDBODY, Inc. is headquartered in San Luis Obispo, California. “

MB has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered MINDBODY from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $48.00 to $31.00 in a report on Wednesday, November 7th. BidaskClub lowered MINDBODY from a “buy” rating to a “hold” rating in a report on Saturday, December 8th. Morgan Stanley set a $30.00 target price on MINDBODY and gave the company a “hold” rating in a report on Thursday, November 8th. KeyCorp reaffirmed a “buy” rating and set a $38.00 target price on shares of MINDBODY in a report on Wednesday, November 7th. Finally, ValuEngine lowered MINDBODY from a “buy” rating to a “hold” rating in a report on Wednesday, November 7th. Eleven research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. MINDBODY currently has an average rating of “Hold” and an average target price of $36.28.

MB traded up $0.13 during trading hours on Wednesday, hitting $36.86. The stock had a trading volume of 53,992 shares, compared to its average volume of 2,611,789. MINDBODY has a 1 year low of $21.61 and a 1 year high of $45.50. The firm has a market cap of $1.75 billion, a P/E ratio of -122.93 and a beta of -0.35. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.45 and a current ratio of 9.45.

MINDBODY (NASDAQ:MB) last announced its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.05) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $63.80 million during the quarter, compared to analyst estimates of $63.99 million. During the same quarter last year, the firm posted $0.01 EPS. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. As a group, research analysts predict that MINDBODY will post -0.67 earnings per share for the current fiscal year.

In other news, CFO Brett T. White sold 10,000 shares of MINDBODY stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $36.38, for a total transaction of $363,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of MINDBODY stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $32.98, for a total value of $585,032.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,714 shares of company stock valued at $4,765,725. Corporate insiders own 6.02% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. TIAA CREF Investment Management LLC lifted its position in MINDBODY by 0.7% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 170,167 shares of the technology company’s stock worth $6,917,000 after buying an additional 1,099 shares during the last quarter. Rhumbline Advisers lifted its position in MINDBODY by 4.4% in the 2nd quarter. Rhumbline Advisers now owns 41,030 shares of the technology company’s stock worth $1,584,000 after buying an additional 1,737 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in MINDBODY by 6.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,443 shares of the technology company’s stock worth $1,278,000 after buying an additional 1,774 shares during the last quarter. JPMorgan Chase & Co. lifted its position in MINDBODY by 13.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,345 shares of the technology company’s stock worth $624,000 after buying an additional 1,872 shares during the last quarter. Finally, Nelson Roberts Investment Advisors LLC lifted its position in MINDBODY by 2.0% in the 3rd quarter. Nelson Roberts Investment Advisors LLC now owns 126,346 shares of the technology company’s stock worth $5,136,000 after buying an additional 2,445 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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