Shares of Mindbody Inc. (NASDAQ:MB) have been given a consensus recommendation of “Buy” by the eight analysts that are covering the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $22.25.
Several research firms recently weighed in on MB. Roth Capital began coverage on Mindbody in a report on Friday. They issued a “buy” rating and a $22.50 target price for the company. JMP Securities upped their price target on Mindbody from $19.00 to $25.00 and gave the stock a “market outperform” rating in a report on Thursday, July 28th. Pacific Crest upped their price target on Mindbody from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, July 28th. Morgan Stanley upped their price target on Mindbody from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Finally, KeyCorp upped their price target on Mindbody from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, September 13th.
Shares of Mindbody (NASDAQ:MB) traded up 5.77% during midday trading on Friday, reaching $18.51. 483,129 shares of the company were exchanged. Mindbody has a 52-week low of $9.20 and a 52-week high of $19.32. The company’s market capitalization is $735.31 million. The firm’s 50 day moving average is $17.48 and its 200-day moving average is $15.30.
Mindbody (NASDAQ:MB) last posted its earnings results on Wednesday, July 27th. The company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.04. Mindbody had a negative return on equity of 30.95% and a negative net margin of 27.12%. The firm earned $33.60 million during the quarter, compared to analyst estimates of $33.22 million. During the same period in the previous year, the company earned ($0.21) EPS. The company’s revenue for the quarter was up 35.5% on a year-over-year basis. On average, equities analysts forecast that Mindbody will post ($0.44) earnings per share for the current fiscal year.
In other Mindbody news, Director Bessemer Venture Partners Vii sold 800,000 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $17.63, for a total value of $14,104,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Qualified Master Fund L. Abdiel purchased 142,100 shares of the stock in a transaction on Wednesday, August 3rd. The stock was bought at an average price of $17.80 per share, for a total transaction of $2,529,380.00. The disclosure for this purchase can be found here. 30.62% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Glenmede Trust Co. NA acquired a new stake in shares of Mindbody during the first quarter valued at approximately $3,689,000. JPMorgan Chase & Co. boosted its stake in shares of Mindbody by 595,629.9% in the first quarter. JPMorgan Chase & Co. now owns 637,431 shares of the company’s stock valued at $8,497,000 after buying an additional 637,324 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Mindbody by 159.2% in the first quarter. Royce & Associates LP now owns 68,551 shares of the company’s stock valued at $914,000 after buying an additional 42,100 shares during the last quarter. State Street Corp boosted its stake in shares of Mindbody by 20.1% in the first quarter. State Street Corp now owns 96,558 shares of the company’s stock valued at $1,289,000 after buying an additional 16,172 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Mindbody by 57.2% in the first quarter. Geode Capital Management LLC now owns 67,153 shares of the company’s stock valued at $895,000 after buying an additional 24,444 shares during the last quarter. Hedge funds and other institutional investors own 38.49% of the company’s stock.
Mindbody Company Profile
MINDBODY, Inc is a provider of cloud-based business management software for the wellness services industry and operates as a consumer marketplace with over 51,000 local business subscribers on its platform in over 130 countries and territories. The Company’s subscribers provide a range of wellness services to approximately 28 million active consumers.
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