DA Davidson Analysts Give MINDBODY (MB) a $33.00 Price Target

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DA Davidson set a $33.00 price target on MINDBODY (NASDAQ:MB) in a report issued on Wednesday, The Fly reports. The firm currently has a buy rating on the technology company’s stock.

A number of other research analysts have also issued reports on MB. Zacks Investment Research upgraded shares of MINDBODY from a sell rating to a hold rating in a research note on Thursday, July 12th. KeyCorp reiterated a buy rating and issued a $47.00 target price on shares of MINDBODY in a research note on Wednesday, August 1st. BidaskClub lowered shares of MINDBODY from a strong-buy rating to a buy rating in a research note on Wednesday, August 1st. JPMorgan Chase & Co. raised their target price on shares of MINDBODY to $48.00 and gave the company an overweight rating in a research note on Wednesday, August 1st. They noted that the move was a valuation call. Finally, Morgan Stanley lowered their target price on shares of MINDBODY from $42.00 to $40.00 and set an equal weight rating on the stock in a research note on Wednesday, August 1st. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $33.70.

Shares of MB traded down $0.18 during mid-day trading on Wednesday, hitting $26.82. 1,246,871 shares of the company’s stock were exchanged, compared to its average volume of 1,253,458. MINDBODY has a twelve month low of $24.75 and a twelve month 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.

MINDBODY (NASDAQ:MB) last announced its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. MINDBODY had a negative net margin of 16.91% and a negative return on equity of 9.26%. The company had revenue of $63.80 million for the quarter, compared to analyst estimates of $63.99 million. During the same quarter in the prior year, the business posted $0.01 EPS. MINDBODY’s quarterly revenue was up 36.9% on a year-over-year basis. Analysts expect that MINDBODY will post -0.64 EPS for the current year.

In other MINDBODY news, major shareholder Luxor Capital Group, Lp sold 78,548 shares of the firm’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $33.20, for a total value of $2,607,793.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $40.59, for a total transaction of $720,026.01. The disclosure for this sale can be found here. Insiders sold a total of 127,809 shares of company stock worth $4,430,896 over the last quarter. 6.02% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nelson Roberts Investment Advisors LLC grew its position in MINDBODY by 1.1% in the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 123,901 shares of the technology company’s stock worth $4,783,000 after purchasing an additional 1,325 shares during the last quarter. Rhumbline Advisers grew its position in MINDBODY by 4.4% in the 2nd quarter. Rhumbline Advisers now owns 41,030 shares of the technology company’s stock worth $1,584,000 after purchasing an additional 1,737 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in MINDBODY by 6.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,443 shares of the technology company’s stock worth $1,278,000 after purchasing an additional 1,774 shares during the last quarter. JPMorgan Chase & Co. grew its position in MINDBODY by 13.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,345 shares of the technology company’s stock worth $624,000 after purchasing an additional 1,872 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC grew its position in MINDBODY by 27.8% in the 2nd quarter. Arthur M. Cohen & Associates LLC now owns 11,500 shares of the technology company’s stock worth $444,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 98.86% 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.

Read More: Compound Annual Growth Rate (CAGR)

The Fly

Analyst Recommendations for MINDBODY (NASDAQ:MB)

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