BidaskClub Upgrades MINDBODY (MB) to “Buy”

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

A number of other analysts have also recently issued reports on MB. ValuEngine raised MINDBODY from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 6th. JPMorgan Chase & Co. raised their price objective on MINDBODY to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, August 1st. They noted that the move was a valuation call. Zacks Investment Research raised MINDBODY from a “sell” rating to a “hold” rating in a research report on Thursday, July 12th. KeyCorp reaffirmed a “buy” rating and issued a $47.00 price objective on shares of MINDBODY in a research report on Wednesday, August 1st. 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 research note on Wednesday, August 1st. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $40.20.

MB opened at $31.37 on Tuesday. MINDBODY has a 12-month low of $28.70 and a 12-month high of $45.50. The company has a market capitalization of $1.54 billion, a PE ratio of -104.57 and a beta of -0.20. The company has a quick ratio of 9.61, a current ratio of 9.61 and a debt-to-equity ratio of 0.86.

MINDBODY (NASDAQ:MB) last released its quarterly earnings data on Tuesday, July 31st. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $61.61 million during the quarter, compared to analyst estimates of $60.48 million. As a group, equities research analysts anticipate that MINDBODY will post -0.63 earnings per share for the current fiscal year.

In other MINDBODY news, CEO Richard Lee Stollmeyer sold 17,739 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $34.61, for a total transaction of $613,946.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Luxor Capital Group, Lp acquired 65,019 shares of the stock in a transaction on Wednesday, August 1st. The shares were bought at an average price of $34.86 per share, for a total transaction of $2,266,562.34. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 66,055 shares of company stock worth $2,473,395. 6.02% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Public Employees Retirement Association of Colorado bought a new position in MINDBODY during the 3rd quarter worth $259,000. Global Thematic Partners LLC increased its stake in MINDBODY by 539.9% during the 3rd quarter. Global Thematic Partners LLC now owns 692,773 shares of the technology company’s stock worth $28,160,000 after acquiring an additional 584,502 shares during the period. Massachusetts Financial Services Co. MA increased its stake in MINDBODY by 45.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 947,112 shares of the technology company’s stock worth $38,500,000 after acquiring an additional 297,183 shares during the period. Contravisory Investment Management Inc. bought a new position in MINDBODY during the 3rd quarter worth $4,571,000. Finally, Nelson Roberts Investment Advisors LLC increased its stake in MINDBODY by 2.0% during the 3rd quarter. Nelson Roberts Investment Advisors LLC now owns 126,346 shares of the technology company’s stock worth $5,136,000 after acquiring an additional 2,445 shares during the period. Hedge funds and other institutional investors own 97.07% 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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Analyst Recommendations for MINDBODY (NASDAQ:MB)

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