Wells Fargo & Co initiated coverage on shares of MINDBODY (NASDAQ:MB) in a research report released on Friday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $45.00 target price on the technology company’s stock.
A number of other analysts also recently issued reports on MB. TheStreet upgraded shares of MINDBODY from a d+ rating to a c rating in a report on Monday, June 18th. Credit Suisse Group decreased their price objective on shares of MINDBODY from $41.00 to $38.00 and set a neutral rating for the company in a report on Wednesday, August 1st. JPMorgan Chase & Co. raised their price objective on shares of 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 decreased their price objective on shares of MINDBODY from $42.00 to $40.00 and set an equal weight rating for the company in a report on Wednesday, August 1st. Finally, ValuEngine upgraded shares of MINDBODY from a buy rating to a strong-buy rating in a report on Friday, July 6th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $38.38.
Shares of MINDBODY stock traded up $1.05 during trading hours on Friday, reaching $38.65. The company’s stock had a trading volume of 518,470 shares, compared to its average volume of 433,135. The company has a current ratio of 9.61, a quick ratio of 9.61 and a debt-to-equity ratio of 0.86. MINDBODY has a one year low of $23.75 and a one year high of $45.50. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -128.83 and a beta of -0.19.
MINDBODY (NASDAQ:MB) last released its quarterly earnings results on Tuesday, July 31st. The technology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). MINDBODY had a negative net margin of 11.85% and a negative return on equity of 6.83%. The firm had revenue of $61.61 million for the quarter, compared to the consensus estimate of $60.48 million. research analysts forecast that MINDBODY will post -0.61 EPS for the current year.
In other MINDBODY news, CEO Richard Lee Stollmeyer sold 17,739 shares of MINDBODY stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $38.96, for a total transaction of $691,111.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Luxor Capital Group, Lp bought 65,019 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were bought at an average price of $34.86 per share, with a total value of $2,266,562.34. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 56,618 shares of company stock valued at $2,080,684. 6.02% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of MINDBODY by 1.2% in the 2nd quarter. FMR LLC now owns 6,565,617 shares of the technology company’s stock worth $253,433,000 after acquiring an additional 75,307 shares during the last quarter. Luxor Capital Group LP lifted its holdings in shares of MINDBODY by 3.1% in the 1st quarter. Luxor Capital Group LP now owns 6,410,599 shares of the technology company’s stock worth $249,372,000 after acquiring an additional 190,189 shares during the last quarter. Institutional Venture Management XIII LLC lifted its holdings in shares of MINDBODY by 0.5% in the 2nd quarter. Institutional Venture Management XIII LLC now owns 2,655,365 shares of the technology company’s stock worth $102,497,000 after acquiring an additional 13,333 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of MINDBODY by 4.7% in the 2nd quarter. BlackRock Inc. now owns 2,642,385 shares of the technology company’s stock worth $101,995,000 after acquiring an additional 118,357 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of MINDBODY by 3.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,782,110 shares of the technology company’s stock worth $69,325,000 after acquiring an additional 56,839 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.
MINDBODY Company Profile
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.
Featured Story: How to Track your Portfolio in Google Finance
Receive News & Ratings for MINDBODY Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MINDBODY and related companies with MarketBeat.com's FREE daily email newsletter.