MINDBODY (MB) Downgraded to D+ at TheStreet

TheStreet cut shares of MINDBODY (NASDAQ:MB) from a c- rating to a d+ rating in a report released on Wednesday.

Other research analysts have also recently issued reports about the company. BidaskClub cut MINDBODY from a strong-buy rating to a buy rating in a research note on Thursday, October 11th. DA Davidson upped their price target on MINDBODY to $48.00 and gave the stock a buy rating in a research note on Wednesday, September 19th. KeyCorp restated a buy rating and set a $47.00 price target on shares of MINDBODY in a research note on Wednesday, August 1st. Morgan Stanley decreased their price target on MINDBODY from $42.00 to $40.00 and set an equal weight rating on the stock in a research note on Wednesday, August 1st. Finally, Zacks Investment Research upgraded MINDBODY from a sell rating to a hold rating in a research note on Thursday, July 12th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. MINDBODY currently has an average rating of Hold and an average price target of $34.27.

MB traded down $0.38 during trading hours on Wednesday, reaching $26.62. The company’s stock had a trading volume of 73,411 shares, compared to its average volume of 969,135. MINDBODY has a fifty-two week low of $24.75 and a fifty-two week high of $45.50. The stock has a market capitalization of $1.56 billion, a PE ratio of -88.80 and a beta of 0.35. 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 released its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. MINDBODY had a negative return on equity of 9.26% and a negative net margin of 16.91%. The firm had revenue of $63.80 million for the quarter, compared to analysts’ expectations of $63.99 million. During the same period in the prior year, the firm posted $0.01 earnings per share. The firm’s quarterly revenue was up 36.9% on a year-over-year basis. As a group, equities research analysts forecast that MINDBODY will post -0.63 earnings per share for the current fiscal year.

In other MINDBODY news, CEO Richard Lee Stollmeyer sold 17,739 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $40.59, for a total transaction of $720,026.01. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Adam L. Miller purchased 3,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The shares were 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. In the last ninety days, insiders have sold 127,809 shares of company stock worth $4,430,896. Corporate insiders own 6.02% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MB. FMR LLC lifted its position in MINDBODY by 1.2% in the second 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. Institutional Venture Management XIII LLC lifted its position in MINDBODY by 0.5% in the second 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. BlackRock Inc. lifted its position in MINDBODY by 4.7% in the second quarter. BlackRock Inc. now owns 2,642,385 shares of the technology company’s stock valued at $101,995,000 after purchasing an additional 118,357 shares during the period. Victory Capital Management Inc. lifted its position in MINDBODY by 4.8% in the third 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 lifted its position in MINDBODY by 45.7% in the third 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 currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for MINDBODY (NASDAQ:MB)

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