MINDBODY (MB) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of MINDBODY (NASDAQ:MB) from a hold rating to a sell rating in a report released 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 equities research analysts also recently weighed in on the company. William Blair assumed coverage on MINDBODY in a research report on Wednesday, September 26th. They set a market perform rating for the company. Wells Fargo & Co assumed coverage on MINDBODY in a research report on Friday, September 7th. They set an outperform rating and a $45.00 target price for the company. Imperial Capital dropped their target price on MINDBODY from $42.00 to $36.00 and set an outperform rating for the company in a research report on Thursday, November 8th. JPMorgan Chase & Co. downgraded MINDBODY from an overweight rating to a neutral rating and dropped their target price for the stock from $48.00 to $31.00 in a research report on Wednesday, November 7th. Finally, ValuEngine downgraded MINDBODY from a buy rating to a hold rating in a research report on Wednesday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $33.70.

Shares of MB opened at $25.61 on Wednesday. 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 has a 52-week low of $23.02 and a 52-week high of $45.50.

MINDBODY (NASDAQ:MB) last issued its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $63.80 million during the quarter, compared to the consensus estimate of $63.99 million. During the same quarter in the previous year, the company posted $0.01 EPS. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. Equities research analysts anticipate that MINDBODY will post -0.67 EPS for the current year.

In related news, major shareholder Luxor Capital Group, Lp acquired 144,100 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was acquired at an average price of $33.51 per share, for a total transaction of $4,828,791.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $27.85, for a total value of $494,031.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,765 shares of company stock valued at $4,406,883. 6.02% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its holdings in MINDBODY by 4.4% in the second quarter. Rhumbline Advisers now owns 41,030 shares of the technology company’s stock valued at $1,584,000 after purchasing an additional 1,737 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in MINDBODY by 6.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 31,443 shares of the technology company’s stock valued at $1,278,000 after purchasing an additional 1,774 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in MINDBODY by 13.9% in the third quarter. JPMorgan Chase & Co. now owns 15,345 shares of the technology company’s stock valued at $624,000 after purchasing an additional 1,872 shares during the last quarter. Nelson Roberts Investment Advisors LLC increased its holdings in MINDBODY by 2.0% in the third quarter. Nelson Roberts Investment Advisors LLC now owns 126,346 shares of the technology company’s stock valued at $5,136,000 after purchasing an additional 2,445 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC increased its holdings in MINDBODY by 27.8% in the second quarter. Arthur M. Cohen & Associates LLC now owns 11,500 shares of the technology company’s stock valued at $444,000 after purchasing an additional 2,500 shares during the last quarter.

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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