Jefferies Financial Group Downgrades MINDBODY (MB) to Hold

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Jefferies Financial Group downgraded shares of MINDBODY (NASDAQ:MB) from a buy rating to a hold rating in a report issued on Wednesday, MarketBeat Ratings reports.

Other research analysts have also recently issued research reports about the company. BidaskClub cut MINDBODY from a buy rating to a hold rating in a research report on Friday, October 19th. DA Davidson boosted their price objective on MINDBODY to $48.00 and gave the stock a buy rating in a research report on Wednesday, September 19th. William Blair started coverage on MINDBODY in a research report on Wednesday, September 26th. They issued a market perform rating on the stock. TheStreet cut MINDBODY from a c- rating to a d+ rating in a research report on Wednesday, November 7th. Finally, UBS Group cut MINDBODY from a buy rating to a neutral rating in a research report on Wednesday, November 7th. Eleven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $36.28.

MINDBODY stock traded up $0.06 during trading on Wednesday, hitting $36.79. 1,170,061 shares of the company were exchanged, compared to its average volume of 2,134,333. MINDBODY has a 52 week low of $21.61 and a 52 week high of $45.50. The company has a market capitalization of $1.75 billion, a P/E ratio of -122.63 and a beta of -0.35. The company has a current ratio of 9.45, a quick ratio of 9.45 and a debt-to-equity ratio of 0.89.

MINDBODY (NASDAQ:MB) last announced its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. MINDBODY had a negative return on equity of 9.15% and a negative net margin of 16.91%. The business had revenue of $63.80 million during the quarter, compared to the consensus estimate of $63.99 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. MINDBODY’s revenue was up 36.9% compared to the same quarter last year. On average, analysts predict that MINDBODY will post -0.67 EPS for the current year.

In other news, CEO Richard Lee Stollmeyer sold 17,739 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $27.85, for a total transaction of $494,031.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Luxor Capital Group, Lp purchased 144,100 shares of the company’s stock in a transaction dated Friday, November 2nd. The shares were purchased at an average cost of $33.51 per share, for a total transaction of $4,828,791.00. The disclosure for this purchase can be found here. In the last three months, insiders sold 143,714 shares of company stock worth $4,765,725. Insiders own 6.02% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. purchased a new position in shares of MINDBODY during the 3rd quarter valued at $201,000. Whetstone Capital Advisors LLC purchased a new position in shares of MINDBODY during the 3rd quarter valued at $232,000. Public Employees Retirement Association of Colorado purchased a new position in shares of MINDBODY during the 3rd quarter valued at $259,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of MINDBODY during the 3rd quarter valued at $302,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of MINDBODY during the 3rd quarter valued at $310,000.

MINDBODY Company Profile

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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Analyst Recommendations for MINDBODY (NASDAQ:MB)

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