Jefferies Group upgraded shares of MINDBODY (NASDAQ:MB) from a hold rating to a buy rating in a report published on Monday morning, MarketBeat Ratings reports. They currently have $26.00 price objective on the technology company’s stock.

Several other brokerages have also weighed in on MB. UBS Group reissued a buy rating and issued a $40.00 price objective (up from $34.00) on shares of MINDBODY in a report on Thursday, November 9th. Roth Capital reissued a buy rating and issued a $31.50 price objective on shares of MINDBODY in a report on Thursday, September 28th. Zacks Investment Research lowered MINDBODY from a buy rating to a hold rating in a report on Wednesday, November 1st. BidaskClub lowered MINDBODY from a buy rating to a hold rating in a report on Monday, September 18th. Finally, KeyCorp raised MINDBODY from a sector weight rating to an overweight rating and boosted their price objective for the company from $16.95 to $32.00 in a report on Friday, September 22nd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. MINDBODY currently has an average rating of Buy and a consensus price target of $32.54.

MINDBODY (MB) opened at $32.25 on Monday. The company has a quick ratio of 9.20, a current ratio of 9.20 and a debt-to-equity ratio of 0.06. MINDBODY has a one year low of $21.57 and a one year high of $36.25. The company has a market capitalization of $1,510.00 and a PE ratio of -87.16.

MINDBODY (NASDAQ:MB) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. MINDBODY had a negative return on equity of 8.39% and a negative net margin of 9.26%. The business had revenue of $46.60 million for the quarter, compared to analysts’ expectations of $45.59 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The company’s revenue was up 32.0% compared to the same quarter last year. analysts forecast that MINDBODY will post -0.31 EPS for the current year.

In related news, major shareholder Luxor Capital Group, Lp bought 83,022 shares of the stock in a transaction dated Monday, October 16th. The stock was bought at an average cost of $27.95 per share, with a total value of $2,320,464.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kunal Mittal sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $35.00, for a total value of $350,000.00. The disclosure for this sale can be found here. Insiders have sold 175,087 shares of company stock valued at $5,317,856 over the last ninety days. Corporate insiders own 8.22% of the company’s stock.

Several large investors have recently bought and sold shares of the company. California Public Employees Retirement System grew its holdings in shares of MINDBODY by 26.3% during the third quarter. California Public Employees Retirement System now owns 16,926 shares of the technology company’s stock valued at $438,000 after purchasing an additional 3,526 shares during the last quarter. Davidson Kempner Capital Management LP bought a new position in MINDBODY in the 3rd quarter worth approximately $4,575,000. Granahan Investment Management Inc. MA grew its holdings in MINDBODY by 13.3% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 446,766 shares of the technology company’s stock worth $11,549,000 after buying an additional 52,521 shares in the last quarter. Granite Point Capital Management L.P. grew its holdings in MINDBODY by 5.6% in the 3rd quarter. Granite Point Capital Management L.P. now owns 112,200 shares of the technology company’s stock worth $2,900,000 after buying an additional 5,900 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in MINDBODY by 7.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 199,077 shares of the technology company’s stock worth $5,146,000 after buying an additional 14,250 shares in the last quarter. 90.14% of the stock is owned by institutional investors.

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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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