DA Davidson set a $33.00 price target on MINDBODY (NASDAQ:MB) in a research report released on Wednesday, The Fly reports. The brokerage currently has a buy rating on the technology company’s stock.
Several other equities analysts also recently issued reports on MB. JPMorgan Chase & Co. downgraded shares of MINDBODY from an overweight rating to a neutral rating and cut their price target for the company from $48.00 to $31.00 in a report on Wednesday. Roth Capital reissued a neutral rating and set a $32.00 price target (down from $44.00) on shares of MINDBODY in a report on Wednesday. KeyCorp reissued a buy rating and set a $38.00 price target on shares of MINDBODY in a report on Wednesday. BidaskClub downgraded shares of MINDBODY from a strong-buy rating to a buy rating in a report on Wednesday, August 1st. Finally, Zacks Investment Research raised shares of MINDBODY from a sell rating to a hold rating in a report on Thursday, July 12th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $33.70.
Shares of NASDAQ:MB traded down $0.18 during midday trading on Wednesday, reaching $26.82. 1,246,871 shares of the company’s stock were exchanged, compared to its average volume of 1,253,458. MINDBODY has a 12 month low of $24.75 and a 12 month high of $45.50. The company has a quick ratio of 9.61, a current ratio of 9.61 and a debt-to-equity ratio of 0.86.
MINDBODY (NASDAQ:MB) last released its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The company had revenue of $63.80 million during the quarter, compared to the consensus estimate of $63.99 million. MINDBODY had a negative net margin of 16.91% and a negative return on equity of 9.26%. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same period last year, the firm earned $0.01 EPS. Equities research analysts predict that MINDBODY will post -0.64 earnings per share for the current fiscal year.
In related news, Director Adam L. Miller acquired 3,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was purchased at an average price of $35.66 per share, for a total transaction of $106,980.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, President Michael Joseph Mansbach sold 3,705 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $35.25, for a total transaction of $130,601.25. The disclosure for this sale can be found here. Insiders have sold a total of 127,809 shares of company stock valued at $4,430,896 over the last three months. 6.02% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Trexquant Investment LP acquired a new stake in MINDBODY in the 3rd quarter valued at about $408,000. BlackRock Inc. increased its position in MINDBODY by 2.8% in the 3rd quarter. BlackRock Inc. now owns 2,717,223 shares of the technology company’s stock valued at $110,454,000 after acquiring an additional 74,838 shares in the last quarter. Bank of New York Mellon Corp increased its position in MINDBODY by 4.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 163,572 shares of the technology company’s stock valued at $6,650,000 after acquiring an additional 6,466 shares in the last quarter. AXA increased its position in MINDBODY by 27.5% in the 3rd quarter. AXA now owns 81,579 shares of the technology company’s stock valued at $3,316,000 after acquiring an additional 17,596 shares in the last quarter. Finally, Jennison Associates LLC increased its position in MINDBODY by 12.9% in the 3rd quarter. Jennison Associates LLC now owns 712,815 shares of the technology company’s stock valued at $28,976,000 after acquiring an additional 81,475 shares in the last quarter. Hedge funds and other institutional investors own 98.86% of the company’s stock.
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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