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.

About MINDBODY

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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