MINDBODY Inc (NASDAQ:MB) – Equities research analysts at KeyCorp issued their Q1 2019 earnings estimates for shares of MINDBODY in a note issued to investors on Wednesday, November 7th. KeyCorp analyst B. Bracelin expects that the technology company will post earnings of ($0.12) per share for the quarter. KeyCorp currently has a “Buy” rating and a $38.00 target price on the stock.
A number of other research firms have also recently commented on MB. TheStreet cut shares of MINDBODY from a “c-” rating to a “d+” rating in a report on Wednesday. Morgan Stanley set a $30.00 target price on shares of MINDBODY and gave the stock a “hold” rating in a report on Thursday. Imperial Capital dropped their target price on shares of MINDBODY from $42.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday. BidaskClub cut shares of MINDBODY from a “buy” rating to a “hold” rating in a report on Thursday. Finally, ValuEngine cut shares of MINDBODY from a “buy” rating to a “hold” rating in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $33.70.
MINDBODY (NASDAQ:MB) last announced its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $63.80 million for the quarter, compared to the consensus estimate of $63.99 million. MINDBODY had a negative net margin of 16.91% and a negative return on equity of 9.26%. The business’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share.
In related news, Director Adam L. Miller acquired 3,000 shares of MINDBODY stock in a transaction dated Tuesday, August 14th. The stock was bought at an average price of $35.66 per share, with a total value of $106,980.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Michael Joseph Mansbach sold 3,705 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $35.25, for a total transaction of $130,601.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,809 shares of company stock valued at $4,430,896. Insiders own 6.02% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC grew its position in MINDBODY by 1.2% in the 2nd quarter. FMR LLC now owns 6,565,617 shares of the technology company’s stock valued at $253,433,000 after purchasing an additional 75,307 shares during the period. BlackRock Inc. grew its position in MINDBODY by 2.8% in the 3rd quarter. BlackRock Inc. now owns 2,717,223 shares of the technology company’s stock valued at $110,454,000 after purchasing an additional 74,838 shares during the period. Institutional Venture Management XIII LLC grew its position in 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 valued at $102,497,000 after purchasing an additional 13,333 shares during the period. Victory Capital Management Inc. grew its position in MINDBODY by 4.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,493,985 shares of the technology company’s stock valued at $60,731,000 after purchasing an additional 68,315 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in MINDBODY by 45.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 947,112 shares of the technology company’s stock valued at $38,500,000 after purchasing an additional 297,183 shares during the period. 98.86% of the stock is owned by institutional investors and hedge funds.
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.
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