Shares of MINDBODY Inc (NASDAQ:MB) hit a new 52-week high during trading on Tuesday after KeyCorp raised their price target on the stock from $41.00 to $47.00. KeyCorp currently has an overweight rating on the stock. MINDBODY traded as high as $42.40 and last traded at $42.21, with a volume of 1064201 shares trading hands. The stock had previously closed at $39.95.
A number of other brokerages have also recently commented on MB. Craig Hallum restated a “buy” rating and set a $45.00 price target (up from $40.00) on shares of MINDBODY in a research note on Tuesday. BidaskClub upgraded shares of MINDBODY from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 7th. Summit Insights assumed coverage on shares of MINDBODY in a research note on Wednesday, March 7th. They set a “buy” rating on the stock. Imperial Capital upped their price target on shares of MINDBODY from $35.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, Morgan Stanley upped their price target on shares of MINDBODY from $34.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $37.29.
In other MINDBODY news, CEO Richard Lee Stollmeyer sold 17,741 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $30.30, for a total value of $537,552.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kunal Mittal sold 6,210 shares of the stock in a transaction that occurred on 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 quarter, insiders acquired 234,777 shares of company stock worth $8,298,316 and sold 144,238 shares worth $5,132,005. Corporate insiders own 8.22% of the company’s stock.
The stock has a market capitalization of $1,950.00 and a price-to-earnings ratio of -128.91. The company has a debt-to-equity ratio of 0.06, a current ratio of 8.66 and a quick ratio of 8.66.
MINDBODY (NASDAQ:MB) last issued its quarterly earnings results on Wednesday, February 21st. The technology company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. The firm had revenue of $49.70 million for the quarter, compared to analyst estimates of $48.96 million. MINDBODY had a negative net margin of 8.10% and a negative return on equity of 6.29%. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) EPS. research analysts forecast that MINDBODY Inc will post -0.12 EPS for the current year.
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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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