MINDBODY’s (MB) Neutral Rating Reiterated at Roth Capital

Roth Capital reissued their neutral rating on shares of MINDBODY (NASDAQ:MB) in a research note published on Wednesday, Marketbeat reports. Roth Capital currently has a $32.00 target price on the technology company’s stock, down from their previous target price of $44.00.

A number of other research firms also recently issued reports on MB. JPMorgan Chase & Co. downgraded shares of MINDBODY from an overweight rating to a neutral rating and reduced their price target for the company from $48.00 to $31.00 in a research report on Wednesday. KeyCorp reiterated a buy rating and set a $38.00 price target on shares of MINDBODY in a research report on Wednesday. BidaskClub downgraded shares of MINDBODY from a strong-buy rating to a buy rating in a research report on Wednesday, August 1st. Zacks Investment Research upgraded shares of MINDBODY from a sell rating to a hold rating in a research report on Thursday, July 12th. Finally, Morgan Stanley reduced their price target on shares of MINDBODY from $42.00 to $40.00 and set an equal weight rating for the company in a research report on Wednesday, August 1st. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $33.70.

NASDAQ:MB traded down $0.18 during mid-day trading on Wednesday, reaching $26.82. The stock had a trading volume of 1,246,871 shares, compared to its average volume of 1,253,458. The company has a debt-to-equity ratio of 0.86, a quick ratio of 9.61 and a current ratio of 9.61. MINDBODY has a twelve month low of $24.75 and a twelve month high of $45.50.

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

In related news, CEO Richard Lee Stollmeyer sold 17,739 shares of MINDBODY stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $40.59, for a total transaction of $720,026.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Adam L. Miller acquired 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The shares were bought at an average price of $35.66 per share, with a total value of $106,980.00. The disclosure for this purchase can be found here. Insiders have sold a total of 127,809 shares of company stock valued at $4,430,896 over the last 90 days. Insiders own 6.02% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Nelson Roberts Investment Advisors LLC grew its stake in MINDBODY by 1.1% in the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 123,901 shares of the technology company’s stock worth $4,783,000 after acquiring an additional 1,325 shares during the period. Rhumbline Advisers grew its stake in MINDBODY by 4.4% in the 2nd quarter. Rhumbline Advisers now owns 41,030 shares of the technology company’s stock worth $1,584,000 after acquiring an additional 1,737 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in MINDBODY by 6.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,443 shares of the technology company’s stock worth $1,278,000 after acquiring an additional 1,774 shares during the period. JPMorgan Chase & Co. grew its stake in MINDBODY by 13.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,345 shares of the technology company’s stock worth $624,000 after acquiring an additional 1,872 shares during the period. Finally, Arthur M. Cohen & Associates LLC grew its stake in MINDBODY by 27.8% in the 2nd quarter. Arthur M. Cohen & Associates LLC now owns 11,500 shares of the technology company’s stock worth $444,000 after acquiring an additional 2,500 shares during the period. Hedge funds and other institutional investors own 98.86% of the company’s stock.

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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