MINDBODY (MB) Rating Reiterated by Roth Capital

MINDBODY (NASDAQ:MB)‘s stock had its “neutral” rating restated by Roth Capital in a research note issued on Wednesday, Marketbeat.com reports. They presently have a $32.00 target price on the technology company’s stock, down from their prior target price of $44.00. Roth Capital’s target price suggests a potential upside of 16.92% from the stock’s current price.

Several other equities analysts have also recently weighed in on MB. BidaskClub cut MINDBODY from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 11th. DA Davidson lifted their price objective on MINDBODY to $48.00 and gave the company a “buy” rating in a report on Wednesday, September 19th. KeyCorp reaffirmed a “buy” rating and issued a $47.00 price objective on shares of MINDBODY in a report on Wednesday, August 1st. Morgan Stanley dropped their price objective on MINDBODY from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 1st. Finally, Zacks Investment Research raised MINDBODY from a “sell” rating to a “hold” rating in a report on Thursday, July 12th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $34.27.

MB traded up $0.37 during trading on Wednesday, hitting $27.37. The stock had a trading volume of 28,800 shares, compared to its average volume of 969,135. The company has a market capitalization of $1.56 billion, a PE ratio of -91.30 and a beta of 0.35. MINDBODY has a one year low of $24.75 and a one year high of $45.50. The company has a debt-to-equity ratio of 0.86, a current ratio of 9.61 and a quick ratio of 9.61.

MINDBODY (NASDAQ:MB) last released its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. The business had revenue of $63.80 million during the quarter, compared to the consensus estimate of $63.99 million. MINDBODY had a negative return on equity of 9.26% and a negative net margin of 16.91%. The firm’s quarterly revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. Equities analysts anticipate 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 company’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $32.98, for a total value of $585,032.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Luxor Capital Group, Lp sold 78,548 shares of the company’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $33.20, for a total value of $2,607,793.60. The disclosure for this sale can be found here. Insiders have sold a total of 127,809 shares of company stock valued at $4,430,896 in the last three months. 6.02% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Nwam LLC acquired a new position in MINDBODY in the 2nd quarter worth about $205,000. Xact Kapitalforvaltning AB acquired a new position in MINDBODY in the 1st quarter worth about $223,000. Public Employees Retirement Association of Colorado acquired a new position in MINDBODY in the 3rd quarter worth about $259,000. Raymond James Financial Services Advisors Inc. acquired a new position in MINDBODY in the 2nd quarter worth about $265,000. Finally, WINTON GROUP Ltd acquired a new position in MINDBODY in the 1st quarter worth about $282,000. 98.86% of the stock is owned by institutional investors and hedge funds.

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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