Mulesoft (MULE) Stock Rating Lowered by Canaccord Genuity

Mulesoft (NYSE:MULE) was downgraded by stock analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a research note issued on Wednesday. They presently have a $33.00 price target on the stock. Canaccord Genuity’s price objective indicates a potential downside of 25.09% from the company’s previous close.

MULE has been the subject of several other research reports. Barclays raised Mulesoft from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $28.00 to $29.00 in a research report on Monday, January 8th. Zacks Investment Research lowered Mulesoft from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Oppenheimer lifted their price target on Mulesoft from $32.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 6th. Nomura initiated coverage on Mulesoft in a research report on Tuesday, January 23rd. They issued a “buy” rating and a $30.00 price target for the company. Finally, UBS raised Mulesoft from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research report on Wednesday, November 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $32.70.

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Shares of MULE stock opened at $44.05 on Wednesday. Mulesoft has a fifty-two week low of $19.40 and a fifty-two week high of $44.58. The company has a market cap of $5,817.56 and a price-to-earnings ratio of -55.06.

Mulesoft (NYSE:MULE) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.07. The firm had revenue of $88.70 million during the quarter, compared to analyst estimates of $83.56 million. Mulesoft had a negative return on equity of 32.10% and a negative net margin of 26.98%. Mulesoft’s quarterly revenue was up 60.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) EPS. equities analysts forecast that Mulesoft will post -0.63 earnings per share for the current year.

In other Mulesoft news, SVP Robert Horton sold 50,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $30.69, for a total value of $1,534,500.00. Following the completion of the transaction, the senior vice president now owns 69,093 shares of the company’s stock, valued at approximately $2,120,464.17. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary Little sold 21,826 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $24.21, for a total value of $528,407.46. The disclosure for this sale can be found here. In the last three months, insiders sold 457,614 shares of company stock valued at $13,814,363.

Large investors have recently modified their holdings of the business. Macquarie Group Ltd. raised its position in Mulesoft by 350.0% in the 4th quarter. Macquarie Group Ltd. now owns 5,400 shares of the company’s stock worth $126,000 after buying an additional 4,200 shares during the last quarter. Bank of Montreal Can increased its position in shares of Mulesoft by 71,250.0% during the 4th quarter. Bank of Montreal Can now owns 5,708 shares of the company’s stock valued at $133,000 after purchasing an additional 5,700 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its position in shares of Mulesoft by 852.0% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 9,682 shares of the company’s stock valued at $225,000 after purchasing an additional 8,665 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Mulesoft during the 4th quarter valued at about $271,000. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of Mulesoft during the 4th quarter valued at about $273,000. 51.05% of the stock is owned by institutional investors and hedge funds.

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About Mulesoft

MuleSoft, Inc is engaged in providing a software platform that connects a range of technologies. The Company enables organizations to manage and secure the flow of data between all systems in the enterprise. The Company offers organizations to create agile infrastructures. The Company has developed Anypoint Platform.

Analyst Recommendations for Mulesoft (NYSE:MULE)

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