Brokerages Set MINDBODY Inc (MB) Target Price at $40.20

Shares of MINDBODY Inc (NASDAQ:MB) have been given an average rating of “Hold” by the seventeen analysts that are currently covering the company, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $33.70.

Several equities research analysts have issued reports on MB shares. KeyCorp reaffirmed a “buy” rating and set a $47.00 price target on shares of MINDBODY in a report on Wednesday, August 1st. BidaskClub downgraded MINDBODY from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 1st. JPMorgan Chase & Co. lifted their target price on MINDBODY to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, August 1st. They noted that the move was a valuation call. Morgan Stanley dropped their target price on MINDBODY from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 1st. Finally, Credit Suisse Group dropped their target price on MINDBODY from $41.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, August 1st.

In related news, CEO Richard Lee Stollmeyer sold 17,739 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $40.59, for a total value of $720,026.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Luxor Capital Group, Lp sold 78,548 shares of the business’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $33.20, for a total value of $2,607,793.60. The disclosure for this sale can be found here. Insiders have sold 127,809 shares of company stock valued at $4,430,896 in the last three months. Insiders own 6.02% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Sei Investments Co. acquired a new position in MINDBODY in the first quarter valued at about $143,000. Nwam LLC bought a new position in MINDBODY in the second quarter valued at about $205,000. Xact Kapitalforvaltning AB bought a new position in MINDBODY in the first quarter valued at about $223,000. Public Employees Retirement Association of Colorado bought a new position in MINDBODY in the third quarter valued at about $259,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in MINDBODY in the second quarter valued at about $265,000. 98.86% of the stock is owned by institutional investors and hedge funds.

MINDBODY stock traded down $0.18 during mid-day trading on Monday, hitting $26.82. 1,246,871 shares of the company’s stock traded hands, compared to its average volume of 1,253,458. MINDBODY has a fifty-two week low of $24.75 and a fifty-two week high of $45.50. The company has a quick ratio of 9.61, a current ratio of 9.61 and a debt-to-equity ratio of 0.86.

MINDBODY (NASDAQ:MB) last announced its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. MINDBODY had a negative return on equity of 9.26% and a negative net margin of 16.91%. The business had revenue of $63.80 million during the quarter, compared to the consensus estimate of $63.99 million. During the same quarter last year, the firm posted $0.01 EPS. The company’s quarterly revenue was up 36.9% on a year-over-year basis. Sell-side analysts predict that MINDBODY will post -0.64 EPS for the current year.

About MINDBODY

MINDBODY, Inc operates a cloud-based business management software and payments platform for the small and medium-sized businesses in the wellness services industry. Its platform enables businesses to run, market, and build scheduling and online booking, performance tracking, staff management, client relationship management, integrated payment processing, retail point-of-sale, purchase tracking, inventory, hardware integration, analytics and reporting, branded Web, mobility, social integration, client acquisition dashboard, security and compliance, and integration with other cloud-based partners for yoga, Pilates, indoor cycling, group and personal training, boutique fitness, salons, spas, and integrative health businesses.

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Analyst Recommendations for MINDBODY (NASDAQ:MB)

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