Mulesoft Inc (MULE) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Mulesoft Inc (NASDAQ:MULE) from a sell rating to a hold rating in a research report released on Friday morning.
According to Zacks, “MuleSoft, Inc. owns and operates Anypoint Platform, an integration solution for connecting applications, data sources, and devices, both on-premises and in the cloud. Its hybrid integration platform includes iPaaS, ESB and a unified solution for API management, design and publishing. MuleSoft, Inc. is headquartered in San Francisco, California. “
Other research analysts have also recently issued reports about the stock. Jefferies Group LLC reissued a buy rating on shares of Mulesoft in a research report on Monday, May 15th. Piper Jaffray Companies reissued a buy rating and set a $27.00 price target on shares of Mulesoft in a research report on Monday, August 14th. Barclays PLC reissued a hold rating and set a $24.00 price target on shares of Mulesoft in a research report on Wednesday, August 2nd. CIBC initiated coverage on shares of Mulesoft in a research report on Thursday, June 8th. They set a market perform rating for the company. Finally, Oppenheimer Holdings, Inc. initiated coverage on shares of Mulesoft in a research report on Thursday, June 8th. They set a market perform rating for the company. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Mulesoft currently has an average rating of Hold and an average price target of $25.43.
Mulesoft (MULE) opened at 21.86 on Friday. The firm’s market cap is $2.82 billion. Mulesoft has a one year low of $19.52 and a one year high of $29.00. The stock’s 50 day moving average is $22.53 and its 200 day moving average is $23.54.
Mulesoft (NASDAQ:MULE) last issued its quarterly earnings results on Thursday, July 27th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Mulesoft had a negative net margin of 28.36% and a negative return on equity of 30.07%. The company had revenue of $69.20 million during the quarter, compared to analysts’ expectations of $63.63 million. Mulesoft’s revenue for the quarter was up 57.3% on a year-over-year basis. On average, analysts predict that Mulesoft will post ($0.39) earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of MULE. Nationwide Fund Advisors purchased a new position in Mulesoft during the 1st quarter valued at about $146,000. Strs Ohio purchased a new position in Mulesoft in the first quarter worth about $121,000. Sumitomo Mitsui Asset Management Company LTD purchased a new position in Mulesoft in the first quarter worth about $218,000. Jennison Associates LLC purchased a new position in Mulesoft in the first quarter worth about $13,189,000. Finally, Kornitzer Capital Management Inc. KS purchased a new position in Mulesoft in the first quarter worth about $328,000.
MuleSoft, Inc is engaged in providing a software platform that connects a range of technologies. The Company enables organizations to manage and secure the flow of data between all systems in the enterprise. The Company offers organizations to create agile infrastructures. The Company has developed Anypoint Platform.
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