MINDBODY (NASDAQ:MB) has been given a $46.00 target price by stock analysts at DA Davidson in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective would indicate a potential upside of 11.52% from the company’s current price.
Several other research firms have also recently weighed in on MB. KeyCorp upped their price target on shares of MINDBODY from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday. Craig Hallum reaffirmed a “buy” rating and issued a $45.00 price target (up previously from $40.00) on shares of MINDBODY in a report on Tuesday. Summit Insights assumed coverage on shares of MINDBODY in a report on Wednesday, March 7th. They issued a “buy” rating on the stock. BidaskClub raised shares of MINDBODY from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 7th. Finally, Imperial Capital upped their price target on shares of MINDBODY from $35.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. MINDBODY presently has a consensus rating of “Buy” and a consensus price target of $37.63.
MINDBODY (MB) opened at $41.25 on Wednesday. The firm has a market cap of $1,883.24, a price-to-earnings ratio of -121.32 and a beta of -0.04. MINDBODY has a 1-year low of $21.57 and a 1-year high of $43.45. The company has a debt-to-equity ratio of 0.06, a current ratio of 8.66 and a quick ratio of 8.66.
In other MINDBODY news, CEO Richard Lee Stollmeyer sold 17,741 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $30.30, for a total transaction of $537,552.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Luxor Capital Group, Lp purchased 43,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were acquired at an average price of $31.36 per share, with a total value of $1,348,480.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 234,777 shares of company stock valued at $8,298,316 and sold 144,238 shares valued at $5,132,005. 8.22% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Luxor Capital Group LP raised its stake in shares of MINDBODY by 8.7% during the fourth quarter. Luxor Capital Group LP now owns 6,220,410 shares of the technology company’s stock valued at $189,411,000 after acquiring an additional 498,724 shares during the last quarter. State Street Corp raised its stake in shares of MINDBODY by 151.3% during the second quarter. State Street Corp now owns 620,907 shares of the technology company’s stock valued at $16,885,000 after acquiring an additional 373,828 shares during the last quarter. Millennium Management LLC raised its stake in shares of MINDBODY by 90.9% during the fourth quarter. Millennium Management LLC now owns 728,570 shares of the technology company’s stock valued at $22,185,000 after acquiring an additional 346,862 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of MINDBODY during the fourth quarter valued at about $8,662,000. Finally, Victory Capital Management Inc. raised its stake in shares of MINDBODY by 19.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,725,271 shares of the technology company’s stock valued at $52,535,000 after acquiring an additional 283,575 shares during the last quarter. Institutional investors and hedge funds own 89.44% of the company’s stock.
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MINDBODY, Inc is a provider of cloud-based business management software for the wellness services industry and operates as a consumer marketplace with local business subscribers on its platform. The Company’s subscribers provide a range of wellness services to active consumers. Its integrated software and payments platform helps business owners in the wellness services industry run, market and build their businesses.
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