MINDBODY (MB) Posts Earnings Results, Beats Expectations By $0.02 EPS

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MINDBODY (NASDAQ:MB) released its quarterly earnings results on Tuesday. The technology company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.02, Briefing.com reports. The company had revenue of $63.80 million for the quarter, compared to analysts’ expectations of $63.99 million. MINDBODY had a negative return on equity of 6.83% and a negative net margin of 11.85%. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. MINDBODY updated its Q4 2018 guidance to $-0.1–0.07 EPS.

Shares of NASDAQ MB traded down $6.45 during trading on Wednesday, hitting $26.18. The company had a trading volume of 7,047,500 shares, compared to its average volume of 619,052. The stock has a market capitalization of $1.60 billion, a P/E ratio of -87.27 and a beta of 0.35. MINDBODY has a 52 week low of $24.75 and a 52 week high of $45.50. The company has a debt-to-equity ratio of 0.86, a quick ratio of 9.61 and a current ratio of 9.61.

Several equities research analysts recently commented on the company. William Blair assumed coverage on MINDBODY in a report on Wednesday, September 26th. They set a “market perform” rating on the stock. DA Davidson boosted their target price on MINDBODY to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 19th. Zacks Investment Research raised MINDBODY from a “sell” rating to a “hold” rating in a report on Thursday, July 12th. BidaskClub raised MINDBODY from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 11th. Finally, Wells Fargo & Co assumed coverage on MINDBODY in a report on Friday, September 7th. They set an “outperform” rating and a $45.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $35.73.

In other MINDBODY news, major shareholder Luxor Capital Group, Lp sold 78,548 shares of the company’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $33.20, for a total value of $2,607,793.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Adam L. Miller purchased 3,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The stock was bought at an average cost of $35.66 per share, for a total transaction of $106,980.00. The disclosure for this purchase can be found here. Insiders sold 127,809 shares of company stock worth $4,430,896 in the last ninety days. 6.02% of the stock is owned by corporate insiders.

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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.

Further Reading: Google Finance

Earnings History for MINDBODY (NASDAQ:MB)

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