Zacks Investment Research downgraded shares of Mindbody (NASDAQ:MB) from a hold rating to a sell rating in a research note published on Wednesday morning.
According to Zacks, “MINDBODY, Inc. develops cloud-based business management software and payments platform for the wellness services industry. Its platform enables businesses to manage class and appointment schedules, staff members, client information, online bookings, inventory, payroll and retail sales for yoga, Pilates, barre, indoor cycling, personal training, martial arts and dance exercise, as well as spas, salons, music instruction studios, dance studios, childrens activity center and integrative health centers. MINDBODY, Inc. is headquartered in San Luis Obispo, California. “
A number of other analysts have also issued reports on MB. Jefferies Group upgraded shares of Mindbody from a hold rating to a buy rating and set a $26.00 target price on the stock in a research report on Monday, January 8th. KeyCorp reiterated a buy rating and issued a $41.00 price target (up previously from $34.00) on shares of Mindbody in a report on Monday, January 22nd. BidaskClub upgraded shares of Mindbody from a hold rating to a buy rating in a report on Wednesday, January 24th. Morgan Stanley lifted their price target on shares of Mindbody from $34.00 to $37.00 and gave the company an equal weight rating in a report on Tuesday, January 30th. Finally, Craig Hallum reiterated a buy rating and issued a $40.00 price target (up previously from $32.00) on shares of Mindbody in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $38.14.
Mindbody (NASDAQ:MB) last announced its earnings results on Wednesday, February 21st. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. Mindbody had a negative net margin of 8.10% and a negative return on equity of 6.29%. The firm had revenue of $49.70 million for the quarter, compared to analyst estimates of $48.96 million. During the same quarter last year, the business earned ($0.04) earnings per share. Mindbody’s revenue was up 30.1% compared to the same quarter last year. equities analysts expect that Mindbody will post -0.12 earnings per share for the current fiscal year.
In other news, CEO Richard Lee Stollmeyer sold 17,739 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $35.76, for a total value of $634,346.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Luxor Capital Group, Lp bought 43,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was bought at an average cost of $31.36 per share, with a total value of $1,348,480.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 234,777 shares of company stock worth $8,298,316 and have sold 177,836 shares worth $6,569,497. Insiders own 6.02% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nationwide Fund Advisors boosted its holdings in shares of Mindbody by 8.7% in the 3rd quarter. Nationwide Fund Advisors now owns 22,669 shares of the technology company’s stock valued at $586,000 after buying an additional 1,814 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Mindbody by 11.2% in the 4th quarter. California Public Employees Retirement System now owns 18,826 shares of the technology company’s stock valued at $573,000 after buying an additional 1,900 shares during the period. Swiss National Bank boosted its holdings in shares of Mindbody by 5.2% in the 4th quarter. Swiss National Bank now owns 50,400 shares of the technology company’s stock valued at $1,535,000 after buying an additional 2,500 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Mindbody by 4.2% in the 3rd quarter. California State Teachers Retirement System now owns 68,032 shares of the technology company’s stock valued at $1,759,000 after buying an additional 2,725 shares during the period. Finally, Nelson Roberts Investment Advisors LLC boosted its holdings in shares of Mindbody by 2.7% in the 4th quarter. Nelson Roberts Investment Advisors LLC now owns 120,345 shares of the technology company’s stock valued at $3,665,000 after buying an additional 3,150 shares during the period. 89.09% of the stock is owned by institutional investors.
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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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