Several other analysts have also recently weighed in on the stock. Morgan Stanley reaffirmed an equal weight rating and set a $39.00 price objective (up from $37.00) on shares of MINDBODY in a research note on Thursday, February 22nd. Zacks Investment Research cut shares of MINDBODY from a hold rating to a sell rating in a research note on Wednesday, April 25th. Imperial Capital upped their price objective on shares of MINDBODY from $35.00 to $42.00 and gave the stock an outperform rating in a research note on Friday, February 23rd. KeyCorp reaffirmed a buy rating and set a $41.00 price objective on shares of MINDBODY in a research note on Wednesday, February 21st. Finally, ValuEngine raised shares of MINDBODY from a hold rating to a buy rating in a research note on Monday, April 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. MINDBODY currently has an average rating of Buy and an average target price of $36.75.
MINDBODY opened at $40.70 on Monday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.06, a current ratio of 8.10 and a quick ratio of 8.10. The stock has a market capitalization of $1.91 billion, a P/E ratio of -135.67 and a beta of -0.11. MINDBODY has a 12-month low of $21.57 and a 12-month high of $45.50.
MINDBODY (NASDAQ:MB) last issued its quarterly earnings data on Tuesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The firm had revenue of $53.82 million for the quarter, compared to analysts’ expectations of $53.84 million. MINDBODY had a negative net margin of 6.47% and a negative return on equity of 4.62%. The company’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.03) earnings per share. equities analysts predict that MINDBODY will post -0.57 EPS for the current fiscal year.
In related news, CEO Richard Lee Stollmeyer sold 17,739 shares of the stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $37.73, for a total value of $669,292.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Brett T. White sold 20,000 shares of the stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $37.70, for a total transaction of $754,000.00. The disclosure for this sale can be found here. Insiders have sold 117,721 shares of company stock worth $4,564,016 over the last three months. 6.02% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in MB. Schwab Charles Investment Management Inc. lifted its holdings in MINDBODY by 10.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 171,159 shares of the technology company’s stock valued at $5,212,000 after buying an additional 16,094 shares during the period. Comerica Bank acquired a new stake in MINDBODY in the fourth quarter worth $995,000. Teacher Retirement System of Texas acquired a new stake in MINDBODY in the fourth quarter worth $308,000. California Public Employees Retirement System raised its holdings in MINDBODY by 11.2% in the fourth quarter. California Public Employees Retirement System now owns 18,826 shares of the technology company’s stock worth $573,000 after purchasing an additional 1,900 shares during the period. Finally, Swiss National Bank raised its holdings in MINDBODY by 5.2% in the fourth quarter. Swiss National Bank now owns 50,400 shares of the technology company’s stock worth $1,535,000 after purchasing an additional 2,500 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.
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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