MINDBODY Inc (MB) Expected to Post Quarterly Sales of $53.82 Million

Equities research analysts predict that MINDBODY Inc (NASDAQ:MB) will announce sales of $53.82 million for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for MINDBODY’s earnings. The lowest sales estimate is $53.39 million and the highest is $54.10 million. MINDBODY reported sales of $42.21 million in the same quarter last year, which would suggest a positive year over year growth rate of 27.5%. The firm is expected to report its next earnings results on Thursday, May 3rd.

On average, analysts expect that MINDBODY will report full year sales of $53.82 million for the current fiscal year, with estimates ranging from $232.34 million to $254.10 million. For the next year, analysts anticipate that the company will report sales of $293.23 million per share, with estimates ranging from $275.06 million to $324.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for MINDBODY.

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MINDBODY (NASDAQ:MB) last posted its quarterly earnings data on Wednesday, February 21st. The technology company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $49.70 million for the quarter, compared to analysts’ expectations of $48.96 million. MINDBODY had a negative net margin of 8.10% and a negative return on equity of 6.29%. The firm’s revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS.

Several equities research analysts have commented on the stock. Imperial Capital boosted their price target on shares of MINDBODY from $35.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Craig Hallum reissued a “buy” rating and set a $45.00 price target (up from $40.00) on shares of MINDBODY in a research report on Tuesday, March 13th. Morgan Stanley reissued an “equal weight” rating and set a $39.00 price target (up from $37.00) on shares of MINDBODY in a research report on Thursday, February 22nd. KeyCorp reissued an “overweight” rating and set a $47.00 price target (up from $41.00) on shares of MINDBODY in a research report on Tuesday, March 13th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of MINDBODY in a research report on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.63.

In other news, major shareholder Luxor Capital Group, Lp acquired 43,000 shares of the stock in a transaction dated Monday, February 12th. The shares were bought at an average cost of $31.36 per share, for a total transaction of $1,348,480.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kunal Mittal sold 6,210 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $40.00, for a total transaction of $248,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 234,777 shares of company stock worth $8,298,316 and have sold 157,838 shares worth $5,683,757. 8.22% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System acquired a new position in MINDBODY in the 2nd quarter valued at about $364,000. State Street Corp grew its stake in MINDBODY by 151.3% in the 2nd quarter. State Street Corp now owns 620,907 shares of the technology company’s stock valued at $16,885,000 after buying an additional 373,828 shares during the last quarter. Nationwide Fund Advisors grew its stake in MINDBODY by 8.7% in the 3rd quarter. Nationwide Fund Advisors now owns 22,669 shares of the technology company’s stock valued at $586,000 after buying an additional 1,814 shares during the last quarter. New York State Common Retirement Fund grew its stake in MINDBODY by 9.3% in the 3rd quarter. New York State Common Retirement Fund now owns 287,782 shares of the technology company’s stock valued at $7,439,000 after buying an additional 24,556 shares during the last quarter. Finally, ClariVest Asset Management LLC acquired a new position in MINDBODY in the 3rd quarter valued at about $269,000. Institutional investors own 89.06% of the company’s stock.

Shares of MB stock opened at $42.15 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 8.66 and a current ratio of 8.66. MINDBODY has a 52-week low of $21.57 and a 52-week high of $43.45. The company has a market cap of $1,989.31, a PE ratio of -123.97 and a beta of -0.04.

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About MINDBODY

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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