MINDBODY, Inc. (MB) Upgraded at Zacks Investment Research
MINDBODY, Inc. (NASDAQ:MB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, July 6th. The firm presently has a $29.00 target price on the technology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.62% from the stock’s previous close.
According to Zacks, “MINDBODY, Inc. develops cloud-based business management software and payments platform for the wellness services industry. Its platform enables businesses to manage class and appointment schedules, staff members, client information, online bookings, inventory, payroll and retail sales for yoga, Pilates, barre, indoor cycling, personal training, martial arts and dance exercise, as well as spas, salons, music instruction studios, dance studios, childrens activity center and integrative health centers. MINDBODY, Inc. is headquartered in San Luis Obispo, California. “
Other analysts have also issued reports about the stock. Roth Capital set a $31.00 target price on shares of MINDBODY and gave the company a “buy” rating in a research note on Monday, March 27th. UBS AG reissued a “buy” rating and set a $32.00 target price (up from $30.00) on shares of MINDBODY in a research note on Wednesday, June 14th. BidaskClub lowered shares of MINDBODY from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Morgan Stanley upped their price target on shares of MINDBODY from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, May 15th. Finally, JMP Securities restated an “outperform” rating and issued a $32.00 price target on shares of MINDBODY in a research report on Monday, April 17th. One equities research analyst has 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 $29.55.
MINDBODY (NASDAQ:MB) opened at 25.75 on Thursday. MINDBODY has a one year low of $16.43 and a one year high of $29.75. The stock has a 50 day moving average price of $27.03 and a 200 day moving average price of $26.54. The firm’s market cap is $1.06 billion.
MINDBODY (NASDAQ:MB) last posted its earnings results on Thursday, May 4th. The technology company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. MINDBODY had a negative net margin of 13.60% and a negative return on equity of 19.36%. The firm had revenue of $42.20 million during the quarter, compared to analysts’ expectations of $42.09 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. MINDBODY’s quarterly revenue was up 31.9% on a year-over-year basis. Equities research analysts expect that MINDBODY will post ($0.14) EPS for the current year.
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In other MINDBODY news, CEO Richard Lee Stollmeyer sold 17,739 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $26.16, for a total value of $464,052.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Luxor Capital Group, Lp acquired 469,973 shares of the stock in a transaction on Friday, May 5th. The stock was bought at an average price of $25.46 per share, with a total value of $11,965,512.58. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,096,818 shares of company stock valued at $29,426,735 and have sold 43,284 shares valued at $1,181,064. 8.22% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the company. Swiss National Bank raised its position in MINDBODY by 52.1% in the first quarter. Swiss National Bank now owns 22,200 shares of the technology company’s stock valued at $609,000 after buying an additional 7,600 shares during the last quarter. Bank of New York Mellon Corp raised its position in MINDBODY by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 140,570 shares of the technology company’s stock valued at $3,858,000 after buying an additional 7,292 shares during the last quarter. Wells Fargo & Company MN raised its position in MINDBODY by 9.4% in the first quarter. Wells Fargo & Company MN now owns 81,124 shares of the technology company’s stock valued at $2,228,000 after buying an additional 6,961 shares during the last quarter. Hamilton Lane Advisors LLC raised its position in shares of MINDBODY by 10.2% in the first quarter. Hamilton Lane Advisors LLC now owns 151,165 shares of the technology company’s stock worth $4,149,000 after buying an additional 14,029 shares during the last quarter. Finally, Columbus Circle Investors raised its position in shares of MINDBODY by 7.0% in the first quarter. Columbus Circle Investors now owns 544,814 shares of the technology company’s stock worth $14,955,000 after buying an additional 35,691 shares during the last quarter. Institutional investors own 77.20% 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 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.
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