Roth Capital set a $23.00 price objective on Mindbody Inc. (NASDAQ:MB) in a research report sent to investors on Monday morning. The brokerage currently has a a buy rating on the stock.
Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Mindbody from a hold rating to a buy rating and set a $21.00 price target on the stock in a research note on Wednesday, September 28th. Pacific Crest reiterated a buy rating and set a $22.00 price target (up from $20.00) on shares of Mindbody in a research note on Tuesday, September 13th. Credit Suisse Group AG reiterated a buy rating on shares of Mindbody in a research note on Thursday, June 16th. Morgan Stanley boosted their price target on shares of Mindbody from $17.00 to $20.00 and gave the stock an equal weight rating in a research note on Thursday, July 28th. Finally, JMP Securities boosted their price target on shares of Mindbody from $19.00 to $25.00 and gave the stock a market outperform rating in a research note on Thursday, July 28th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Mindbody currently has an average rating of Buy and a consensus target price of $22.14.
Shares of Mindbody (NASDAQ:MB) opened at 17.45 on Monday. Mindbody has a 1-year low of $9.20 and a 1-year high of $20.83. The stock’s 50 day moving average is $18.10 and its 200 day moving average is $15.88. The stock’s market capitalization is $693.20 million.
Mindbody (NASDAQ:MB) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. Mindbody had a negative net margin of 27.12% and a negative return on equity of 30.95%. The business had revenue of $33.60 million for the quarter, compared to analyst estimates of $33.22 million. During the same period in the previous year, the business posted ($0.21) earnings per share. The business’s revenue was up 35.5% compared to the same quarter last year. On average, equities analysts forecast that Mindbody will post ($0.44) EPS for the current year.
In other Mindbody news, major shareholder Qualified Master Fund L. Abdiel purchased 165,000 shares of Mindbody stock in a transaction on Thursday, September 29th. The shares were bought at an average price of $19.57 per share, with a total value of $3,229,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bessemer Venture Partners Vii sold 800,000 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $17.63, for a total transaction of $14,104,000.00. The disclosure for this sale can be found here. Corporate insiders own 30.62% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada acquired a new stake in shares of Mindbody during the second quarter valued at about $4,043,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Mindbody during the second quarter valued at about $356,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Mindbody during the second quarter valued at about $179,000. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Mindbody by 37.3% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 435,000 shares of the company’s stock valued at $7,021,000 after buying an additional 118,225 shares during the period. Finally, Capital World Investors acquired a new stake in shares of Mindbody during the second quarter valued at about $2,401,000. 38.49% of the stock is currently owned by institutional investors.
Mindbody Company Profile