BidaskClub Downgrades MINDBODY, Inc. (MB) to Hold
MINDBODY, Inc. (NASDAQ:MB) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Monday.
Several other research analysts also recently weighed in on MB. KeyCorp reissued a “hold” rating on shares of MINDBODY in a research note on Thursday, July 27th. Jefferies Group LLC assumed coverage on shares of MINDBODY in a research note on Thursday, August 24th. They issued a “hold” rating and a $26.00 target price for the company. UBS AG reissued a “buy” rating and issued a $32.00 target price (up previously from $30.00) on shares of MINDBODY in a research note on Wednesday, June 14th. J P Morgan Chase & Co assumed coverage on shares of MINDBODY in a research note on Friday, June 9th. They issued an “overweight” rating and a $38.00 target price for the company. Finally, Roth Capital set a $32.00 target price on shares of MINDBODY and gave the company a “buy” rating in a research note on Tuesday, June 6th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. MINDBODY has an average rating of “Buy” and a consensus target price of $30.70.
MINDBODY (NASDAQ MB) traded up 0.83% during midday trading on Monday, hitting $24.25. 250,472 shares of the stock were exchanged. MINDBODY has a one year low of $16.95 and a one year high of $27.40. The stock’s market cap is $1.12 billion. The firm has a 50-day moving average price of $24.47 and a 200-day moving average price of $24.87.
MINDBODY (NASDAQ:MB) last released its quarterly earnings results on Wednesday, July 26th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.04. The business had revenue of $44.10 million during the quarter, compared to the consensus estimate of $44.11 million. MINDBODY had a negative return on equity of 12.49% and a negative net margin of 11.34%. The business’s revenue was up 31.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.10) EPS. On average, equities research analysts anticipate that MINDBODY will post ($0.09) EPS for the current fiscal year.
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In other news, CEO Richard Lee Stollmeyer sold 17,739 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $26.16, for a total transaction of $464,052.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brett T. White sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. The disclosure for this sale can be found here. Insiders sold a total of 74,260 shares of company stock valued at $1,858,412 in the last 90 days. 8.22% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Quantbot Technologies LP grew its holdings in shares of MINDBODY by 96.3% during the 1st quarter. Quantbot Technologies LP now owns 3,932 shares of the technology company’s stock worth $107,000 after purchasing an additional 1,929 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of MINDBODY by 2,171.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,111 shares of the technology company’s stock worth $112,000 after purchasing an additional 3,930 shares during the period. Legal & General Group Plc grew its holdings in shares of MINDBODY by 4.1% during the 1st quarter. Legal & General Group Plc now owns 4,218 shares of the technology company’s stock worth $116,000 after purchasing an additional 166 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of MINDBODY by 49.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,046 shares of the technology company’s stock worth $137,000 after purchasing an additional 1,678 shares during the period. Finally, Credit Suisse AG purchased a new stake in shares of MINDBODY during the 1st quarter worth about $220,000. Institutional investors and hedge funds own 92.75% of the company’s stock.
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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