Mulesoft Inc (NASDAQ:MULE) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Wednesday.
Several other equities research analysts have also recently weighed in on the company. Goldman Sachs Group, Inc. (The) raised Mulesoft from a “neutral” rating to a “buy” rating and increased their price objective for the company from $24.00 to $26.00 in a research report on Monday. Zacks Investment Research raised Mulesoft from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Mulesoft in a research report on Monday, September 18th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $27.00 target price on shares of Mulesoft in a research report on Monday, August 14th. Finally, Barclays PLC reaffirmed a “hold” rating and issued a $24.00 target price on shares of Mulesoft in a research report on Wednesday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $26.00.
Mulesoft (NASDAQ:MULE) last posted its quarterly earnings data on Thursday, July 27th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.01. Mulesoft had a negative return on equity of 30.07% and a negative net margin of 28.36%. The company had revenue of $69.20 million during the quarter, compared to analysts’ expectations of $63.63 million. Mulesoft’s quarterly revenue was up 57.3% compared to the same quarter last year.
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In related news, major shareholder Ventures Fund I. L.P. Sapphire sold 1,100,000 shares of the firm’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $21.47, for a total value of $23,617,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
A number of institutional investors have recently added to or reduced their stakes in the business. Paulson & CO. Inc. raised its stake in Mulesoft by 115.0% during the second quarter. Paulson & CO. Inc. now owns 43,000 shares of the company’s stock worth $1,072,000 after acquiring an additional 23,000 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Mulesoft by 53.6% during the second quarter. Lord Abbett & CO. LLC now owns 1,202,994 shares of the company’s stock worth $30,003,000 after acquiring an additional 420,025 shares in the last quarter. California State Teachers Retirement System acquired a new position in Mulesoft during the second quarter worth $668,000. The Manufacturers Life Insurance Company acquired a new position in Mulesoft during the second quarter worth $293,000. Finally, Sylebra HK Co Ltd acquired a new position in Mulesoft during the second quarter worth $10,992,000.
Mulesoft Company Profile
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.
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