MINDBODY, Inc. (MB) Earns Buy Rating from UBS AG

MINDBODY, Inc. (NASDAQ:MB)‘s stock had its “buy” rating reaffirmed by investment analysts at UBS AG in a research report issued on Thursday, November 9th, www.benzinga.com reports. They currently have a $40.00 price target on the technology company’s stock, up from their prior price target of $34.00. UBS AG’s price objective indicates a potential upside of 11.11% from the company’s previous close.

A number of other brokerages have also recently issued reports on MB. Zacks Investment Research cut shares of MINDBODY from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. KeyCorp reissued a “buy” rating and set a $32.00 price target on shares of MINDBODY in a research report on Sunday, October 22nd. BidaskClub raised shares of MINDBODY from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Craig Hallum reissued a “buy” rating and set a $30.00 price target on shares of MINDBODY in a research report on Monday, September 25th. Finally, Roth Capital restated a “buy” rating and set a $31.50 price objective on shares of MINDBODY in a research note on Thursday, September 28th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $32.54.

MINDBODY (NASDAQ MB) opened at $36.00 on Thursday. MINDBODY has a 12-month low of $19.50 and a 12-month high of $36.25. The company has a quick ratio of 9.20, a current ratio of 9.20 and a debt-to-equity ratio of 0.06.

MINDBODY (NASDAQ:MB) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. MINDBODY had a negative net margin of 9.26% and a negative return on equity of 8.39%. The company had revenue of $46.60 million during the quarter, compared to analysts’ expectations of $45.59 million. During the same period last year, the company posted ($0.09) EPS. MINDBODY’s revenue was up 32.0% on a year-over-year basis. equities analysts forecast that MINDBODY will post -0.31 earnings per share for the current fiscal year.

In related news, major shareholder Luxor Capital Group, Lp purchased 420,048 shares of MINDBODY stock in a transaction dated Thursday, September 21st. The stock was purchased at an average cost of $24.93 per share, for a total transaction of $10,471,796.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kimberly Gail Lytikainen sold 30,500 shares of MINDBODY stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $27.99, for a total transaction of $853,695.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 955,594 shares of company stock valued at $25,273,140 and have sold 168,717 shares valued at $4,684,727. 8.22% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in MB. BNP Paribas Arbitrage SA grew its position in MINDBODY by 2,171.3% during the second quarter. BNP Paribas Arbitrage SA now owns 4,111 shares of the technology company’s stock valued at $112,000 after buying an additional 3,930 shares during the period. Legal & General Group Plc grew its position in MINDBODY by 4.1% during the first quarter. Legal & General Group Plc now owns 4,218 shares of the technology company’s stock valued at $116,000 after buying an additional 166 shares during the period. Oppenheimer Asset Management Inc. grew its position in MINDBODY by 49.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 5,046 shares of the technology company’s stock valued at $137,000 after buying an additional 1,678 shares during the period. Quantbot Technologies LP grew its position in MINDBODY by 75.5% during the second quarter. Quantbot Technologies LP now owns 6,902 shares of the technology company’s stock valued at $187,000 after buying an additional 2,970 shares during the period. Finally, Credit Suisse AG bought a new stake in MINDBODY during the first quarter valued at approximately $220,000. Hedge funds and other institutional investors own 90.15% of the company’s stock.

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About MINDBODY

MINDBODY, Inc is a provider of cloud-based business management software for the wellness services industry and operates as a consumer marketplace with local business subscribers on its platform. The Company’s subscribers provide a range of wellness services to active consumers. Its integrated software and payments platform helps business owners in the wellness services industry run, market and build their businesses.

Analyst Recommendations for MINDBODY (NASDAQ:MB)

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