Mindbody Inc. (NASDAQ:MB) Receives Consensus Rating of “Buy” from Brokerages
Mindbody Inc. (NASDAQ:MB) has earned an average recommendation of “Buy” from the eight analysts that are currently covering the stock. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $22.25.
Several research firms recently weighed in on MB. Imperial Capital began coverage on shares of Mindbody in a research note on Tuesday, June 7th. They set an “outperform” rating and a $18.00 price objective on the stock. JMP Securities reissued a “buy” rating on shares of Mindbody in a research note on Monday, June 6th. Credit Suisse Group AG reissued a “buy” rating on shares of Mindbody in a research note on Thursday, June 16th. Zacks Investment Research lowered shares of Mindbody from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Finally, Pacific Crest lifted their price objective on shares of Mindbody from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, July 28th.
Mindbody (NASDAQ:MB) opened at 18.71 on Friday. Mindbody has a 1-year low of $9.20 and a 1-year high of $19.32. The firm has a 50-day moving average of $17.49 and a 200 day moving average of $15.45. The firm’s market cap is $743.25 million.
Mindbody (NASDAQ:MB) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.04. The firm earned $33.60 million during the quarter, compared to analysts’ expectations of $33.22 million. Mindbody had a negative net margin of 27.12% and a negative return on equity of 30.95%. The company’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.21) EPS. Analysts expect that Mindbody will post ($0.44) earnings per share for the current fiscal year.
In other Mindbody news, major shareholder Qualified Master Fund L. Abdiel acquired 142,100 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average price of $17.80 per share, with a total value of $2,529,380.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert John Murphy sold 34,600 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $15.99, for a total transaction of $553,254.00. The disclosure for this sale can be found here. 30.62% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in MB. Airain ltd acquired a new stake in shares of Mindbody during the second quarter worth approximately $223,000. Granite Point Capital Management L.P. acquired a new stake in shares of Mindbody during the second quarter worth approximately $1,948,000. Emerald Acquisition Ltd. acquired a new stake in shares of Mindbody during the second quarter worth approximately $243,000. California State Teachers Retirement System raised its stake in shares of Mindbody by 97.3% in the second quarter. California State Teachers Retirement System now owns 30,207 shares of the company’s stock worth $488,000 after buying an additional 14,899 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Mindbody by 198.0% in the second quarter. Bank of New York Mellon Corp now owns 80,389 shares of the company’s stock worth $1,298,000 after buying an additional 53,412 shares in the last quarter. 38.49% of the stock is currently owned by institutional investors and hedge funds.
MINDBODY, Inc is a provider of cloud-based business management software for the wellness services industry and operates as a consumer marketplace with over 51,000 local business subscribers on its platform in over 130 countries and territories. The Company’s subscribers provide a range of wellness services to approximately 28 million active consumers.
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