Research analysts at Jefferies Group LLC began coverage on shares of MINDBODY, Inc. (NASDAQ:MB) in a report issued on Thursday, Marketbeat Ratings reports. The brokerage set a “hold” rating and a $26.00 price target on the technology company’s stock. Jefferies Group LLC’s price objective suggests a potential upside of 17.65% from the stock’s current price.

The analysts wrote, “MB boasts an attractive profile: 1) low penetration of a large market for wellness business services, 2) rapid growth, 3) emerging profitability, and 4) valuation discount to peers.””

A number of other brokerages have also weighed in on MB. Zacks Investment Research lowered MINDBODY from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub downgraded MINDBODY from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 1st. Roth Capital set a $32.00 target price on MINDBODY and gave the stock a “buy” rating in a report on Tuesday, June 6th. Pacific Crest downgraded MINDBODY from an “overweight” rating to a “sector weight” rating in a report on Monday, May 15th. Finally, J P Morgan Chase & Co assumed coverage on MINDBODY in a report on Friday, June 9th. They set an “overweight” rating and a $38.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. MINDBODY has a consensus rating of “Buy” and a consensus price target of $29.25.

MINDBODY (MB) opened at 22.10 on Thursday. The company’s market capitalization is $1.02 billion. MINDBODY has a 1-year low of $16.71 and a 1-year high of $29.75. The firm has a 50 day moving average of $24.71 and a 200-day moving average of $26.43.

MINDBODY (NASDAQ:MB) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.04. MINDBODY had a negative return on equity of 12.49% and a negative net margin of 11.34%. The business had revenue of $44.10 million for the quarter, compared to analyst estimates of $44.11 million. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. The company’s revenue was up 31.3% on a year-over-year basis. On average, equities research analysts anticipate that MINDBODY will post ($0.09) earnings per share for the current fiscal year.

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In related news, major shareholder Luxor Capital Group, Lp purchased 369,345 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was bought at an average cost of $27.79 per share, with a total value of $10,264,097.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $25.13, for a total value of $445,781.07. The disclosure for this sale can be found here. Insiders sold 46,781 shares of company stock valued at $1,205,101 over the last three months. 8.22% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP increased its position in shares of MINDBODY by 96.3% in the first quarter. Quantbot Technologies LP now owns 3,932 shares of the technology company’s stock valued at $107,000 after buying an additional 1,929 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of MINDBODY by 2,171.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,111 shares of the technology company’s stock valued at $112,000 after buying an additional 3,930 shares during the last quarter. Legal & General Group Plc increased its position in shares of 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 buying an additional 166 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of 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 buying an additional 1,678 shares during the last quarter. Finally, Credit Suisse AG acquired a new position in shares of MINDBODY during the first quarter valued at $220,000. 75.04% of the stock is owned by institutional investors.

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.

Analyst Recommendations for MINDBODY (NASDAQ:MB)

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