Mulesoft (NYSE:MULE) Lifted to “Overweight” at Barclays

Barclays upgraded shares of Mulesoft (NYSE:MULE) from an equal weight rating to an overweight rating in a research report released on Monday, January 8th, MarketBeat Ratings reports. Barclays currently has $29.00 price objective on the stock, up from their prior price objective of $28.00.

Other research analysts have also recently issued research reports about the stock. Oppenheimer upgraded shares of Mulesoft from a market perform rating to an outperform rating and set a $30.00 target price for the company in a research note on Wednesday, November 29th. Canaccord Genuity upgraded shares of Mulesoft from a hold rating to a buy rating and boosted their price objective for the stock from $24.00 to $29.00 in a research report on Monday, October 23rd. BidaskClub upgraded shares of Mulesoft from a sell rating to a hold rating in a research report on Wednesday, October 11th. UBS Group upgraded shares of Mulesoft from a market perform rating to an outperform rating and set a $30.00 target price for the company in a research report on Wednesday, November 29th. Finally, Zacks Investment Research raised shares of Mulesoft from a sell rating to a hold rating in a report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Mulesoft presently has an average rating of Hold and a consensus target price of $28.00.

Shares of Mulesoft (MULE) opened at $24.40 on Monday. Mulesoft has a 12-month low of $19.40 and a 12-month high of $29.00.

Mulesoft (NYSE:MULE) last posted its quarterly earnings data on Thursday, October 26th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.04. Mulesoft had a negative return on equity of 49.63% and a negative net margin of 25.84%. The business had revenue of $77.60 million for the quarter, compared to analyst estimates of $71.52 million. The firm’s revenue was up 57.1% compared to the same quarter last year. equities research analysts predict that Mulesoft will post -0.64 EPS for the current fiscal year.

In other news, SVP Robert Horton sold 51,470 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $22.84, for a total value of $1,175,574.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary Little sold 21,826 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $24.21, for a total transaction of $528,407.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 821,313 shares of company stock valued at $18,974,208.

A number of institutional investors have recently added to or reduced their stakes in the business. Sylebra HK Co Ltd raised its holdings in Mulesoft by 151.2% in the 3rd quarter. Sylebra HK Co Ltd now owns 1,107,129 shares of the company’s stock valued at $22,298,000 after acquiring an additional 666,386 shares during the period. Whale Rock Capital Management LLC bought a new position in Mulesoft in the 3rd quarter valued at about $1,963,000. Janus Henderson Group PLC raised its holdings in Mulesoft by 73.3% in the 3rd quarter. Janus Henderson Group PLC now owns 297,541 shares of the company’s stock valued at $5,992,000 after acquiring an additional 125,889 shares during the period. Jane Street Group LLC grew its position in shares of Mulesoft by 38.4% during the 3rd quarter. Jane Street Group LLC now owns 37,790 shares of the company’s stock worth $761,000 after purchasing an additional 10,490 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Mulesoft during the 3rd quarter worth approximately $1,634,000. 23.19% of the stock is currently owned by hedge funds and other institutional investors.

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Mulesoft Company Profile

MuleSoft, Inc is engaged in providing a software platform that connects a range of technologies. The Company enables organizations to manage and secure the flow of data between all systems in the enterprise. The Company offers organizations to create agile infrastructures. The Company has developed Anypoint Platform.

Analyst Recommendations for Mulesoft (NYSE:MULE)

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