Mulesoft (NYSE:MULE) had its price objective increased by Canaccord Genuity from $30.00 to $33.00 in a report issued on Friday, Marketbeat reports. The firm currently has a buy rating on the stock.
Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Mulesoft from a hold rating to a sell rating in a research report on Wednesday, December 27th. UBS Group upgraded shares of Mulesoft from a market perform rating to an outperform rating and set a $30.00 target price on the stock in a research report on Wednesday, November 29th. Piper Jaffray Companies restated a buy rating on shares of Mulesoft in a research report on Tuesday, October 24th. Nomura began coverage on shares of Mulesoft in a research report on Tuesday, January 23rd. They set a buy rating and a $30.00 target price on the stock. Finally, Barclays increased their target price on shares of Mulesoft from $24.00 to $28.00 and gave the stock an equal weight rating in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. Mulesoft currently has a consensus rating of Buy and an average target price of $29.40.
Mulesoft (NYSE:MULE) opened at $30.81 on Friday. Mulesoft has a 52 week low of $19.40 and a 52 week high of $31.00. The company has a market cap of $4,004.10 and a PE ratio of -38.51.
Mulesoft (NYSE:MULE) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.07. Mulesoft had a negative net margin of 26.98% and a negative return on equity of 31.42%. The business had revenue of $88.70 million for the quarter, compared to analyst estimates of $83.56 million. During the same quarter in the prior year, the business earned ($0.10) EPS. Mulesoft’s quarterly revenue was up 60.1% on a year-over-year basis. equities research analysts expect that Mulesoft will post -0.72 earnings per share for the current year.
In related news, major shareholder Barry Eggers sold 32,495 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $21.57, for a total transaction of $700,917.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Simon Parmett sold 61,453 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $22.85, for a total transaction of $1,404,201.05. Following the sale, the insider now owns 31,453 shares in the company, valued at approximately $718,701.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 352,808 shares of company stock worth $8,103,624.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lord Abbett & CO. LLC boosted its position in shares of Mulesoft by 53.6% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,202,994 shares of the company’s stock worth $30,003,000 after acquiring an additional 420,025 shares in the last quarter. Whale Rock Capital Management LLC acquired a new stake in shares of Mulesoft during the 3rd quarter worth approximately $1,963,000. New York State Common Retirement Fund boosted its position in shares of Mulesoft by 14.6% during the 3rd quarter. New York State Common Retirement Fund now owns 33,882 shares of the company’s stock worth $682,000 after acquiring an additional 4,320 shares in the last quarter. American International Group Inc. boosted its position in shares of Mulesoft by 73.1% during the 3rd quarter. American International Group Inc. now owns 16,220 shares of the company’s stock worth $327,000 after acquiring an additional 6,849 shares in the last quarter. Finally, Nicholas Investment Partners LP boosted its position in shares of Mulesoft by 36.0% during the 3rd quarter. Nicholas Investment Partners LP now owns 201,222 shares of the company’s stock worth $4,053,000 after acquiring an additional 53,305 shares in the last quarter. Institutional investors and hedge funds own 24.45% of the company’s stock.
MuleSoft, Inc is engaged in providing a software platform that connects a range of technologies. The Company enables organizations to manage and secure the flow of data between all systems in the enterprise. The Company offers organizations to create agile infrastructures. The Company has developed Anypoint Platform.
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