MINDBODY (MB) Cut to Buy at BidaskClub

MINDBODY (NASDAQ:MB) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other analysts have also commented on the stock. William Blair assumed coverage on shares of MINDBODY in a research report on Wednesday, September 26th. They set a “market perform” rating on the stock. DA Davidson lifted their price target on shares of MINDBODY to $48.00 and gave the company a “buy” rating in a research report on Wednesday, September 19th. Wells Fargo & Co initiated coverage on shares of MINDBODY in a research report on Friday, September 7th. They set an “outperform” rating and a $45.00 price target on the stock. Credit Suisse Group dropped their target price on shares of MINDBODY from $41.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, August 1st. Finally, Morgan Stanley dropped their target price on shares of MINDBODY from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 1st. Five 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 company currently has an average rating of “Buy” and a consensus price target of $40.20.

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MB stock opened at $33.00 on Thursday. The company has a market cap of $1.94 billion, a PE ratio of -110.00 and a beta of -0.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 9.61 and a current ratio of 9.61. MINDBODY has a one year low of $27.70 and a one year high of $45.50.

MINDBODY (NASDAQ:MB) last released its quarterly earnings results on Tuesday, July 31st. The technology company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.04). The firm had revenue of $61.61 million for the quarter, compared to analysts’ expectations of $60.48 million. MINDBODY had a negative net margin of 11.85% and a negative return on equity of 6.83%. Analysts forecast that MINDBODY will post -0.63 earnings per share for the current year.

In other MINDBODY news, Director Adam L. Miller purchased 3,000 shares of the company’s stock in a transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of the business’s 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. Insiders sold a total of 66,055 shares of company stock valued at $2,473,395 in the last quarter. 6.02% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of MINDBODY in the first quarter worth $122,000. Sei Investments Co. acquired a new position in shares of MINDBODY during the first quarter worth $143,000. Nwam LLC acquired a new position in shares of MINDBODY during the second quarter worth $205,000. Xact Kapitalforvaltning AB acquired a new position in shares of MINDBODY during the first quarter worth $223,000. Finally, Amalgamated Bank acquired a new position in shares of MINDBODY during the first quarter worth $223,000. Institutional investors and hedge funds own 96.82% 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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