Mindbody Inc. (NASDAQ:MB) has been given a $23.00 price objective by stock analysts at Roth Capital in a research report issued on Monday. The firm presently has a a “buy” rating on the stock. Roth Capital’s price objective would suggest a potential upside of 22.79% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Zacks Investment Research upgraded Mindbody from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Wednesday, September 28th. Pacific Crest restated a “buy” rating and set a $22.00 price objective (up from $20.00) on shares of Mindbody in a report on Tuesday, September 13th. Credit Suisse Group AG restated a “buy” rating on shares of Mindbody in a report on Thursday, June 16th. Morgan Stanley lifted their price objective on Mindbody from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Finally, JMP Securities lifted their price objective on Mindbody from $19.00 to $25.00 and gave the stock a “market outperform” rating in a report on Thursday, July 28th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Mindbody presently has an average rating of “Buy” and an average price target of $22.14.

Analyst Recommendations for Mindbody (NASDAQ:MB)

Mindbody (NASDAQ:MB) traded down 1.76% during midday trading on Monday, hitting $18.40. The stock had a trading volume of 1,638,231 shares. Mindbody has a 12-month low of $9.20 and a 12-month high of $20.83. The company has a 50-day moving average price of $18.05 and a 200-day moving average price of $15.85. The company’s market cap is $730.94 million.

Mindbody (NASDAQ:MB) last released 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 business had revenue of $33.60 million for the quarter, compared to analyst estimates of $33.22 million. Mindbody had a negative return on equity of 30.95% and a negative net margin of 27.12%. The company’s revenue was up 35.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.21) EPS. Equities analysts anticipate that Mindbody will post ($0.44) EPS for the current year.

In related news, major shareholder Qualified Master Fund L. Abdiel acquired 165,000 shares of the stock in a transaction that occurred on Thursday, September 29th. The stock was purchased at an average cost of $19.57 per share, for a total transaction of $3,229,050.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Richard Lee Stollmeyer sold 21,760 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $17.40, for a total value of $378,624.00. The disclosure for this sale can be found here. Corporate insiders own 30.62% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. American International Group Inc. increased its position in shares of Mindbody by 88.8% in the second quarter. American International Group Inc. now owns 8,293 shares of the company’s stock worth $134,000 after buying an additional 3,900 shares during the last quarter. Strs Ohio bought a new position in shares of Mindbody during the second quarter worth approximately $167,000. Alliancebernstein L.P. bought a new position in shares of Mindbody during the second quarter worth approximately $179,000. Metropolitan Life Insurance Co. NY bought a new position in shares of Mindbody during the second quarter worth approximately $179,000. Finally, A.R.T. Advisors LLC bought a new position in shares of Mindbody during the second quarter worth approximately $200,000. Hedge funds and other institutional investors own 38.49% of the company’s stock.

Mindbody Company Profile

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.

5 Day Chart for NASDAQ:MB

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