MINDBODY (MB) Cut to “D+” at TheStreet

MINDBODY (NASDAQ:MB) was downgraded by research analysts at TheStreet from a “c-” rating to a “d+” rating in a report issued on Wednesday.

A number of other analysts also recently commented on MB. Zacks Investment Research upgraded MINDBODY from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. BidaskClub downgraded MINDBODY from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley set a $30.00 target price on MINDBODY and gave the stock a “hold” rating in a research note on Thursday. Imperial Capital lowered their target price on MINDBODY from $42.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, KeyCorp restated a “buy” rating and issued a $47.00 target price on shares of MINDBODY in a research note on Wednesday, August 1st. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.27.

Shares of MB stock opened at $27.00 on Wednesday. The company has a current ratio of 9.61, a quick ratio of 9.61 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1.56 billion, a PE ratio of -90.00 and a beta of 0.35. 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 data 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 business had revenue of $63.80 million for the quarter, compared to analyst estimates of $63.99 million. MINDBODY had a negative return on equity of 9.26% and a negative net margin of 16.91%. The company’s revenue was up 36.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.01 earnings per share. Research analysts anticipate that MINDBODY will post -0.63 EPS for the current year.

In other MINDBODY news, major shareholder Luxor Capital Group, Lp sold 78,548 shares of the stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $33.20, for a total transaction of $2,607,793.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Adam L. Miller purchased 3,000 shares of the stock in a transaction on Tuesday, August 14th. The shares were acquired at an average price of $35.66 per share, for a total transaction of $106,980.00. The disclosure for this purchase can be found here. Insiders sold 127,809 shares of company stock worth $4,430,896 in the last 90 days. Company insiders own 6.02% of the company’s stock.

A number of hedge funds have recently modified their holdings of MB. SG Americas Securities LLC boosted its position in MINDBODY by 1,565.4% during the third quarter. SG Americas Securities LLC now owns 715,039 shares of the technology company’s stock worth $29,066,000 after purchasing an additional 672,105 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in MINDBODY during the second quarter worth approximately $25,087,000. Global Thematic Partners LLC boosted its position in MINDBODY by 539.9% during the third quarter. Global Thematic Partners LLC now owns 692,773 shares of the technology company’s stock worth $28,160,000 after purchasing an additional 584,502 shares in the last quarter. Voya Investment Management LLC boosted its position in MINDBODY by 3,432.0% during the second quarter. Voya Investment Management LLC now owns 595,206 shares of the technology company’s stock worth $22,975,000 after purchasing an additional 578,354 shares in the last quarter. Finally, BlackRock Inc. boosted its position in MINDBODY by 4.7% during the second quarter. BlackRock Inc. now owns 2,642,385 shares of the technology company’s stock worth $101,995,000 after purchasing an additional 118,357 shares in the last quarter. Institutional investors own 98.86% of the company’s stock.

MINDBODY Company Profile

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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