Shares of Mulesoft Inc (NYSE:MULE) traded up 17.9% during mid-day trading on Monday after Barclays raised their price target on the stock from $29.00 to $31.00. Barclays currently has an overweight rating on the stock. Mulesoft traded as high as $31.00 and last traded at $30.81. 12,146,900 shares traded hands during trading, an increase of 683% from the average session volume of 1,550,885 shares. The stock had previously closed at $26.13.
MULE has been the subject of several other research reports. Zacks Investment Research cut Mulesoft from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. UBS Group upgraded Mulesoft from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Wednesday, November 29th. Piper Jaffray Companies restated a “buy” rating on shares of Mulesoft in a report on Tuesday, October 24th. Nomura assumed coverage on Mulesoft in a report on Tuesday, January 23rd. They set a “buy” rating and a $30.00 price target for the company. Finally, Canaccord Genuity upgraded Mulesoft from a “hold” rating to a “buy” rating and raised their price target for the company from $24.00 to $29.00 in a report on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $30.40.
In other news, major shareholder Mitchell Kertzman sold 70,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $23.00, for a total value of $1,610,000.00. Following the completion of the sale, the insider now directly owns 71,982 shares of the company’s stock, valued at approximately $1,655,586. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Barry Eggers sold 58,784 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $22.83, for a total value of $1,342,038.72. The disclosure for this sale can be found here. Insiders sold a total of 346,235 shares of company stock valued at $7,952,511 over the last ninety days.
The stock has a market capitalization of $4,080.00 and a P/E ratio of -38.74.
Mulesoft (NYSE:MULE) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.07. Mulesoft had a negative return on equity of 31.42% and a negative net margin of 26.98%. The firm had revenue of $88.70 million during the quarter, compared to analyst estimates of $83.56 million. During the same period last year, the company earned ($0.10) EPS. Mulesoft’s quarterly revenue was up 60.1% compared to the same quarter last year. research analysts expect that Mulesoft Inc will post -0.72 EPS for the current fiscal year.
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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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