MINDBODY (NASDAQ:MB) PT Raised to $48.00 at DA Davidson

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MINDBODY (NASDAQ:MB) had its price objective lifted by stock analysts at DA Davidson to $48.00 in a report released on Wednesday, September 19th, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective would suggest a potential upside of 45.45% from the company’s current price.

Other research analysts have also issued reports about the company. BidaskClub lowered MINDBODY from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 1st. Credit Suisse Group lowered their target price on MINDBODY from $41.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, August 1st. JPMorgan Chase & Co. lifted their target price on MINDBODY to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, August 1st. They noted that the move was a valuation call. TheStreet raised MINDBODY from a “d+” rating to a “c” rating in a report on Monday, June 18th. Finally, Morgan Stanley lowered their target price on MINDBODY from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 1st. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. MINDBODY presently has an average rating of “Buy” and an average price target of $40.20.

Shares of NASDAQ MB traded up $1.14 during midday trading on Wednesday, reaching $33.00. 1,006,942 shares of the company traded hands, compared to its average volume of 569,352. MINDBODY has a 52 week low of $27.70 and a 52 week high of $45.50. The company has a quick ratio of 9.61, a current ratio of 9.61 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.94 billion, a P/E ratio of -110.00 and a beta of -0.20.

MINDBODY (NASDAQ:MB) last issued its quarterly earnings data on Tuesday, July 31st. The technology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). MINDBODY had a negative net margin of 11.85% and a negative return on equity of 6.83%. The company had revenue of $61.61 million for the quarter, compared to the consensus estimate of $60.48 million. On average, sell-side analysts anticipate that MINDBODY will post -0.63 earnings per share for the current fiscal year.

In related news, CEO Richard Lee Stollmeyer sold 17,739 shares of MINDBODY stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $34.61, for a total value of $613,946.79. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Michael Joseph Mansbach sold 3,705 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $35.25, for a total value of $130,601.25. The disclosure for this sale can be found here. Insiders sold a total of 66,055 shares of company stock worth $2,473,395 in the last three months. 6.02% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in MINDBODY during the 1st quarter worth about $122,000. Sei Investments Co. acquired a new stake in MINDBODY during the 1st quarter worth about $143,000. Nwam LLC acquired a new stake in MINDBODY during the 2nd quarter worth about $205,000. Xact Kapitalforvaltning AB acquired a new stake in MINDBODY during the 1st quarter worth about $223,000. Finally, Amalgamated Bank acquired a new stake in MINDBODY during the 1st quarter worth about $223,000. Hedge funds and other institutional investors own 96.82% of the company’s stock.

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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The Fly

Analyst Recommendations for MINDBODY (NASDAQ:MB)

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