MINDBODY (MB) Stock Rating Lowered by Zacks Investment Research

MINDBODY (NASDAQ:MB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “MINDBODY, Inc. develops cloud-based business management software and payments platform for the wellness services industry. Its platform enables businesses to manage class and appointment schedules, staff members, client information, online bookings, inventory, payroll and retail sales for yoga, Pilates, barre, indoor cycling, personal training, martial arts and dance exercise, as well as spas, salons, music instruction studios, dance studios, childrens activity center and integrative health centers. MINDBODY, Inc. is headquartered in San Luis Obispo, California. “

MB has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered MINDBODY from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $48.00 to $31.00 in a research report on Wednesday, November 7th. Morgan Stanley set a $30.00 target price on MINDBODY and gave the stock a “hold” rating in a research report on Thursday, November 8th. ValuEngine lowered MINDBODY from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th. KeyCorp reissued a “buy” rating and issued a $38.00 target price on shares of MINDBODY in a research report on Wednesday, November 7th. Finally, BidaskClub raised MINDBODY from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $33.70.

Shares of NASDAQ:MB opened at $26.20 on Wednesday. MINDBODY has a fifty-two week low of $23.02 and a fifty-two week high of $45.50. The company has a quick ratio of 9.45, a current ratio of 9.45 and a debt-to-equity ratio of 0.89.

MINDBODY (NASDAQ:MB) last issued its earnings results on Tuesday, November 6th. The technology company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.02. MINDBODY had a negative return on equity of 9.15% and a negative net margin of 16.91%. The business had revenue of $63.80 million during the quarter, compared to analyst estimates of $63.99 million. During the same quarter in the previous year, the firm earned $0.01 EPS. MINDBODY’s revenue was up 36.9% on a year-over-year basis. Sell-side analysts anticipate that MINDBODY will post -0.67 EPS for the current fiscal year.

In other MINDBODY news, CEO Richard Lee Stollmeyer sold 17,739 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Luxor Capital Group, Lp sold 78,548 shares of the business’s stock in a transaction dated Monday, November 5th. The shares were 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. Over the last 90 days, insiders have sold 131,765 shares of company stock valued at $4,406,883. Corporate insiders own 6.02% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. bought a new position in shares of MINDBODY during the 3rd quarter valued at approximately $201,000. Whetstone Capital Advisors LLC bought a new position in shares of MINDBODY during the 3rd quarter valued at approximately $232,000. Public Employees Retirement Association of Colorado bought a new position in shares of MINDBODY during the 3rd quarter valued at approximately $259,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of MINDBODY during the 2nd quarter valued at approximately $265,000. Finally, Sei Investments Co. grew its stake in shares of MINDBODY by 110.0% during the 2nd quarter. Sei Investments Co. now owns 7,743 shares of the technology company’s stock valued at $299,000 after acquiring an additional 4,055 shares during the period.

About MINDBODY

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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