Brokerages Expect MINDBODY Inc (MB) Will Announce Quarterly Sales of $48.92 Million

Wall Street brokerages expect MINDBODY Inc (NASDAQ:MB) to report sales of $48.92 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for MINDBODY’s earnings, with the lowest sales estimate coming in at $48.60 million and the highest estimate coming in at $49.22 million. MINDBODY posted sales of $38.19 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 28.1%. The firm is expected to issue its next earnings results on Wednesday, February 14th.

According to Zacks, analysts expect that MINDBODY will report full-year sales of $48.92 million for the current fiscal year, with estimates ranging from $181.54 million to $182.15 million. For the next year, analysts forecast that the business will post sales of $227.44 million per share, with estimates ranging from $224.06 million to $230.39 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for MINDBODY.

MINDBODY (NASDAQ:MB) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.05. The business had revenue of $46.60 million for the quarter, compared to analysts’ expectations of $45.59 million. MINDBODY had a negative return on equity of 8.39% and a negative net margin of 9.26%. The business’s quarterly revenue was up 32.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) EPS.

MB has been the topic of several research analyst reports. Zacks Investment Research cut MINDBODY from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. DA Davidson initiated coverage on MINDBODY in a research note on Wednesday, November 15th. They set a “buy” rating and a $42.00 target price on the stock. KeyCorp reissued a “buy” rating and set a $32.00 target price on shares of MINDBODY in a research note on Sunday, October 22nd. Craig Hallum reissued a “buy” rating and set a $30.00 target price on shares of MINDBODY in a research note on Monday, September 25th. Finally, BidaskClub cut MINDBODY from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $32.54.

MINDBODY (NASDAQ MB) opened at $30.10 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.20 and a current ratio of 9.20. MINDBODY has a 12 month low of $21.05 and a 12 month high of $36.25. The stock has a market capitalization of $1,400.00 and a P/E ratio of -81.35.

In other news, insider Kimberly Gail Lytikainen sold 36,868 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $30.11, for a total value of $1,110,095.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Luxor Capital Group, Lp purchased 111,445 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was acquired at an average price of $26.45 per share, with a total value of $2,947,720.25. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 535,546 shares of company stock worth $14,801,343 and sold 215,585 shares worth $6,370,392. Insiders own 8.22% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System increased its position in 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 acquiring an additional 3,526 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new stake in MINDBODY in the third quarter worth about $4,575,000. Granahan Investment Management Inc. MA increased its position in MINDBODY by 13.3% in the third 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. increased its position in MINDBODY by 5.6% in the third 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 increased its position in MINDBODY by 7.7% in the third 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. Institutional investors own 90.14% of the company’s stock.

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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.

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