MINDBODY (NASDAQ:MB) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities analysts also recently commented on MB. Wells Fargo & Co started coverage on shares of MINDBODY in a research note on Friday, September 7th. They issued an “outperform” rating and a $45.00 target price on the stock. DA Davidson upped their target price on shares of MINDBODY to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, September 19th. William Blair started coverage on shares of MINDBODY in a research note on Wednesday, September 26th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. downgraded shares of MINDBODY from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $48.00 to $31.00 in a research note on Wednesday, November 7th. Finally, KeyCorp reiterated a “buy” rating and set a $38.00 price objective on shares of MINDBODY in a research note on Wednesday, November 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $33.70.

Shares of MB stock opened at $25.61 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.45 and a current ratio of 9.45. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -85.37 and a beta of 0.31. MINDBODY has a one year low of $23.02 and a one year high of $45.50.

MINDBODY (NASDAQ:MB) last issued its earnings results on Tuesday, November 6th. The technology company reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.02. The business 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 9.15%. The company’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 EPS. On average, equities analysts forecast that MINDBODY will post -0.67 EPS for the current fiscal year.

In other MINDBODY news, major shareholder Luxor Capital Group, Lp sold 78,548 shares of the firm’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $33.20, for a total value of $2,607,793.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $40.59, for a total transaction of $720,026.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,765 shares of company stock valued at $4,406,883. 6.02% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of MB. Raymond James Financial Services Advisors Inc. acquired a new position in MINDBODY in the second quarter valued at about $265,000. First Trust Advisors LP lifted its stake in MINDBODY by 5.4% in the second quarter. First Trust Advisors LP now owns 79,954 shares of the technology company’s stock valued at $3,086,000 after buying an additional 4,114 shares during the period. Jennison Associates LLC lifted its stake in MINDBODY by 11.4% in the second quarter. Jennison Associates LLC now owns 631,340 shares of the technology company’s stock valued at $24,370,000 after buying an additional 64,717 shares during the period. Sei Investments Co. lifted its stake in MINDBODY by 110.0% in the second quarter. Sei Investments Co. now owns 7,743 shares of the technology company’s stock valued at $299,000 after buying an additional 4,055 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in MINDBODY in the second quarter valued at about $409,000.

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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Analyst Recommendations for MINDBODY (NASDAQ:MB)

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