MINDBODY (NASDAQ:MB) Cut to Buy at BidaskClub

BidaskClub lowered shares of MINDBODY (NASDAQ:MB) from a strong-buy rating to a buy rating in a research report report published on Thursday, December 7th.

Other equities analysts have also issued research reports about the company. KeyCorp restated a buy rating and set a $32.00 price target on shares of MINDBODY in a research note on Sunday, October 22nd. Jefferies Group initiated coverage on MINDBODY in a research note on Thursday, August 24th. They set a hold rating and a $26.00 price target on the stock. Zacks Investment Research upgraded MINDBODY from a hold rating to a buy rating and set a $29.00 price target on the stock in a research note on Wednesday, September 27th. DA Davidson initiated coverage on MINDBODY in a research note on Wednesday, November 15th. They set a buy rating and a $42.00 price target on the stock. Finally, Craig Hallum restated a buy rating and set a $30.00 price target on shares of MINDBODY in a research note on Monday, September 25th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. MINDBODY presently has an average rating of Buy and an average target price of $32.54.

MINDBODY (NASDAQ MB) traded up $0.35 during trading hours on Thursday, hitting $30.80. The stock had a trading volume of 907,256 shares, compared to its average volume of 578,100. MINDBODY has a fifty-two week low of $21.20 and a fifty-two week high of $36.25. The company has a market capitalization of $1,400.00 and a P/E ratio of -83.24. 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 released its earnings results on Thursday, October 26th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.05. MINDBODY had a negative return on equity of 8.39% and a negative net margin of 9.26%. The business had revenue of $46.60 million during the quarter, compared to the consensus estimate of $45.59 million. During the same period last year, the company earned ($0.09) earnings per share. The business’s revenue for the quarter was up 32.0% compared to the same quarter last year. analysts forecast that MINDBODY will post -0.31 EPS for the current fiscal year.

In other news, major shareholder Luxor Capital Group, Lp bought 341,079 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The stock was purchased at an average price of $27.95 per share, with a total value of $9,533,158.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett T. White sold 10,000 shares of MINDBODY stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $31.18, for a total value of $311,800.00. The disclosure for this sale can be found here. Insiders have sold 187,846 shares of company stock worth $5,633,999 in the last 90 days. Insiders own 8.22% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its holdings in MINDBODY by 0.3% in the second quarter. Parallel Advisors LLC now owns 14,920 shares of the technology company’s stock valued at $387,000 after acquiring an additional 45 shares during the period. Legal & General Group Plc lifted its holdings 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 acquiring an additional 166 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in MINDBODY by 49.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,046 shares of the technology company’s stock valued at $137,000 after acquiring an additional 1,678 shares during the period. Bank of America Corp DE lifted its holdings in MINDBODY by 5.2% in the first quarter. Bank of America Corp DE now owns 35,657 shares of the technology company’s stock valued at $979,000 after acquiring an additional 1,762 shares during the period. Finally, Nationwide Fund Advisors lifted its holdings in MINDBODY by 8.7% in the third quarter. Nationwide Fund Advisors now owns 22,669 shares of the technology company’s stock valued at $586,000 after acquiring an additional 1,814 shares during the period. 90.14% of the stock is owned by hedge funds and other institutional investors.

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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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