BidaskClub cut shares of MINDBODY (NASDAQ:MB) from a strong-buy rating to a buy rating in a report published on Thursday.
A number of other equities research analysts have also recently commented on the stock. DA Davidson assumed coverage on shares of MINDBODY in a research note on Wednesday, November 15th. They set a buy rating and a $42.00 price objective on the stock. UBS reaffirmed a buy rating and set a $40.00 price objective (up previously from $34.00) on shares of MINDBODY in a research note on Thursday, November 9th. Zacks Investment Research cut shares of MINDBODY from a buy rating to a hold rating in a research note on Wednesday, November 1st. KeyCorp reaffirmed a buy rating and set a $32.00 price objective on shares of MINDBODY in a research note on Sunday, October 22nd. Finally, Roth Capital reaffirmed a buy rating and set a $31.50 price objective on shares of MINDBODY in a research note on Thursday, September 28th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. MINDBODY has a consensus rating of Buy and an average target price of $32.54.
Shares of MINDBODY (NASDAQ:MB) traded up $0.50 during trading hours on Thursday, reaching $30.65. 479,398 shares of the company traded hands, compared to its average volume of 433,518. MINDBODY has a one year low of $19.65 and a one year high of $36.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.20 and a current ratio of 9.20.
MINDBODY (NASDAQ:MB) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. MINDBODY had a negative net margin of 9.26% and a negative return on equity of 8.39%. The company had revenue of $46.60 million for the quarter, compared to the consensus estimate of $45.59 million. During the same quarter in the prior year, the company earned ($0.09) EPS. MINDBODY’s quarterly revenue was up 32.0% on a year-over-year basis. analysts forecast that MINDBODY will post -0.31 earnings per share for the current year.
In other news, CEO Richard Lee Stollmeyer sold 17,739 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $26.54, for a total transaction of $470,793.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Luxor Capital Group, Lp bought 420,048 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were acquired at an average price of $24.93 per share, for a total transaction of $10,471,796.64. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 955,594 shares of company stock worth $25,273,140 and have sold 178,717 shares worth $5,260,296. Company insiders own 8.22% of the company’s stock.
Large investors have recently made changes to their positions in the company. Legal & General Group Plc lifted its holdings in MINDBODY by 4.1% in the 1st quarter. Legal & General Group Plc now owns 4,218 shares of the technology company’s stock valued at $116,000 after purchasing an additional 166 shares in the last quarter. Vanguard Group Inc. lifted its holdings in MINDBODY by 19.4% in the 1st quarter. Vanguard Group Inc. now owns 904,161 shares of the technology company’s stock valued at $24,820,000 after purchasing an additional 146,816 shares in the last quarter. Geode Capital Management LLC lifted its holdings in MINDBODY by 15.9% in the 1st quarter. Geode Capital Management LLC now owns 169,238 shares of the technology company’s stock valued at $4,645,000 after purchasing an additional 23,176 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in MINDBODY by 27.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 28,000 shares of the technology company’s stock valued at $769,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in MINDBODY by 5.2% in the 1st quarter. Bank of America Corp DE now owns 35,657 shares of the technology company’s stock valued at $979,000 after purchasing an additional 1,762 shares in the last quarter. Hedge funds and other institutional investors own 90.16% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This piece was posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are viewing this piece on another domain, it was stolen and reposted in violation of international trademark & copyright laws. The correct version of this piece can be viewed at https://www.thelincolnianonline.com/2017/12/10/mindbody-mb-downgraded-by-bidaskclub.html.
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.
Receive News & Ratings for MINDBODY Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MINDBODY Inc and related companies with MarketBeat.com's FREE daily email newsletter.