MINDBODY Inc (NASDAQ:MB) was downgraded by stock analysts at Pacific Crest from an “overweight” rating to a “sector weight” rating in a research note issued on Monday, May 15th, StockTargetPrices.com reports.
A number of other analysts have also weighed in on the stock. JMP Securities reissued an “outperform” rating and issued a $32.00 price target on shares of MINDBODY in a report on Monday, April 17th. Zacks Investment Research lowered shares of MINDBODY from a “buy” rating to a “hold” rating in a report on Tuesday, February 7th. Roth Capital set a $31.00 price target on shares of MINDBODY and gave the company a “buy” rating in a report on Monday, March 27th. Credit Suisse Group AG raised their price target on shares of MINDBODY from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Finally, Morgan Stanley raised their price target on shares of MINDBODY from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, May 5th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. MINDBODY has an average rating of “Buy” and an average price target of $27.44.
MINDBODY (NASDAQ MB) opened at 28.15 on Monday. The company has a 50-day moving average price of $27.61 and a 200-day moving average price of $25.31. MINDBODY has a one year low of $13.10 and a one year high of $29.75. The company’s market capitalization is $1.15 billion.
MINDBODY (NASDAQ:MB) last issued its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $42.20 million during the quarter, compared to analyst estimates of $42.09 million. MINDBODY had a negative net margin of 16.53% and a negative return on equity of 22.49%. MINDBODY’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.12) earnings per share. Equities research analysts anticipate that MINDBODY will post ($0.14) EPS for the current year. In other news, insider Bradford Lee Wills sold 1,043 shares of MINDBODY stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $28.33, for a total transaction of $29,548.19. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kimberly Gail Lytikainen sold 22,939 shares of MINDBODY stock in a transaction on Friday, May 26th. The stock was sold at an average price of $28.06, for a total transaction of $643,668.34. The disclosure for this sale can be found here. Insiders have sold a total of 71,455 shares of company stock valued at $1,971,976 in the last ninety days. Company insiders own 30.62% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. FNY Partners Fund LP purchased a new position in shares of MINDBODY during the fourth quarter worth $237,000. State Street Corp boosted its position in shares of MINDBODY by 1.8% in the fourth quarter. State Street Corp now owns 218,299 shares of the technology company’s stock worth $4,651,000 after buying an additional 3,770 shares in the last quarter. Pier 88 Investment Partners LLC purchased a new position in shares of MINDBODY during the fourth quarter worth $861,000. Russell Investments Group Ltd. purchased a new position in shares of MINDBODY during the fourth quarter worth $2,765,000. Finally, Exencial Wealth Advisors LLC boosted its position in shares of MINDBODY by 18.3% in the fourth quarter. Exencial Wealth Advisors LLC now owns 12,904 shares of the technology company’s stock worth $275,000 after buying an additional 2,000 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors. MINDBODY Company Profile
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