MINDBODY (MB) Receives Neutral Rating from Roth Capital

Roth Capital reissued their neutral rating on shares of MINDBODY (NASDAQ:MB) in a research note released on Wednesday, MarketBeat reports. They currently have a $32.00 target price on the technology company’s stock, down from their prior target price of $44.00.

A number of other research analysts have also recently commented on the stock. KeyCorp reissued a buy rating and set a $38.00 target price on shares of MINDBODY in a research report on Wednesday. JPMorgan Chase & Co. cut shares of MINDBODY from an overweight rating to a neutral rating and reduced their target price for the stock from $48.00 to $31.00 in a research report on Wednesday. BidaskClub raised shares of MINDBODY from a hold rating to a buy rating in a research report on Tuesday, October 30th. William Blair initiated coverage on shares of MINDBODY in a research report on Wednesday, September 26th. They set a market perform rating on the stock. Finally, DA Davidson boosted their target price on shares of MINDBODY to $48.00 and gave the stock a buy rating in a research report on Wednesday, September 19th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $34.27.

MB stock traded up $0.82 during midday trading on Wednesday, reaching $27.00. 1,973,288 shares of the company’s stock traded hands, compared to its average volume of 969,135. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -90.00 and a beta of 0.35. 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 has a fifty-two week low of $24.75 and a fifty-two week high of $45.50.

MINDBODY (NASDAQ:MB) last announced its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $63.80 million for the quarter, compared to analysts’ expectations of $63.99 million. MINDBODY had a negative net margin of 16.91% and a negative return on equity of 9.26%. MINDBODY’s revenue was up 36.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.01 earnings per share. On average, equities analysts forecast that MINDBODY will post -0.63 EPS for the current fiscal year.

In related news, Director Adam L. Miller purchased 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was acquired at an average price of $35.66 per share, for a total transaction of $106,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of MINDBODY stock in a transaction on Monday, October 1st. The stock was sold at an average price of $40.59, for a total transaction of $720,026.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,809 shares of company stock valued at $4,430,896. Insiders own 6.02% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Nelson Roberts Investment Advisors LLC increased its stake in shares of MINDBODY by 1.1% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 123,901 shares of the technology company’s stock worth $4,783,000 after buying an additional 1,325 shares during the last quarter. Rhumbline Advisers increased its stake in shares of MINDBODY by 4.4% in the second quarter. Rhumbline Advisers now owns 41,030 shares of the technology company’s stock worth $1,584,000 after buying an additional 1,737 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of MINDBODY by 6.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 31,443 shares of the technology company’s stock worth $1,278,000 after buying an additional 1,774 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of MINDBODY by 13.9% in the third quarter. JPMorgan Chase & Co. now owns 15,345 shares of the technology company’s stock worth $624,000 after buying an additional 1,872 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC increased its stake in shares of MINDBODY by 27.8% in the second quarter. Arthur M. Cohen & Associates LLC now owns 11,500 shares of the technology company’s stock worth $444,000 after buying an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 98.86% 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.

Further Reading: Market Capitalization in the Stock Market

Analyst Recommendations for MINDBODY (NASDAQ:MB)

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