Mindbody Inc. (MB) Given a $23.00 Price Target at Roth Capital
Other equities research analysts have also issued reports about the stock. Morgan Stanley increased their target price on shares of Mindbody from $17.00 to $20.00 and gave the stock an equal weight rating in a report on Thursday, July 28th. Imperial Capital reaffirmed an outperform rating and set a $22.00 price objective (up from $18.00) on shares of Mindbody in a report on Friday, July 29th. JMP Securities increased their price objective on shares of Mindbody from $19.00 to $25.00 and gave the company a market outperform rating in a report on Thursday, July 28th. Credit Suisse Group AG reaffirmed a buy rating on shares of Mindbody in a report on Thursday, June 16th. Finally, KeyCorp increased their price objective on shares of Mindbody from $20.00 to $22.00 and gave the company an overweight rating in a report on Tuesday, September 13th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $22.14.
Mindbody (NASDAQ:MB) opened at 17.36 on Monday. The company has a 50 day moving average of $18.08 and a 200 day moving average of $15.89. The stock’s market capitalization is $689.63 million. Mindbody has a 52 week low of $9.20 and a 52 week high of $20.83.
Mindbody (NASDAQ:MB) last released its earnings results on Wednesday, July 27th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.04. The company earned $33.60 million during the quarter, compared to analyst estimates of $33.22 million. Mindbody had a negative net margin of 27.12% and a negative return on equity of 30.95%. The firm’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.21) EPS. Equities analysts expect that Mindbody will post ($0.44) EPS for the current fiscal year.
In other news, CEO Richard Lee Stollmeyer sold 21,760 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $19.44, for a total transaction of $423,014.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Qualified Master Fund L. Abdiel bought 165,000 shares of the stock in a transaction dated Thursday, September 29th. The shares were purchased at an average price of $19.57 per share, with a total value of $3,229,050.00. The disclosure for this purchase can be found here. Insiders own 30.62% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. American International Group Inc. increased its position in Mindbody by 88.8% in the second quarter. American International Group Inc. now owns 8,293 shares of the company’s stock worth $134,000 after buying an additional 3,900 shares in the last quarter. Strs Ohio purchased a new position in Mindbody during the second quarter worth approximately $167,000. Alliancebernstein L.P. purchased a new position in Mindbody during the second quarter worth approximately $179,000. Metropolitan Life Insurance Co. NY purchased a new position in Mindbody during the second quarter worth approximately $179,000. Finally, A.R.T. Advisors LLC purchased a new position in Mindbody during the second quarter worth approximately $200,000. Hedge funds and other institutional investors own 38.49% of the company’s stock.
Mindbody Company Profile
MINDBODY, Inc is a provider of cloud-based business management software for the wellness services industry and operates as a consumer marketplace with over 51,000 local business subscribers on its platform in over 130 countries and territories. The Company’s subscribers provide a range of wellness services to approximately 28 million active consumers.
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