Zacks: Analysts Anticipate MINDBODY, Inc. (MB) Will Announce Quarterly Sales of $44.21 Million
Equities research analysts expect that MINDBODY, Inc. (NASDAQ:MB) will post sales of $44.21 million for the current quarter, Zacks reports. Five analysts have issued estimates for MINDBODY’s earnings. The lowest sales estimate is $43.80 million and the highest is $44.80 million. MINDBODY posted sales of $33.56 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 31.7%. The business is expected to announce its next earnings report on Wednesday, July 26th.
According to Zacks, analysts expect that MINDBODY will report full year sales of $44.21 million for the current financial year, with estimates ranging from $179.63 million to $182.00 million. For the next financial year, analysts forecast that the company will post sales of $224.33 million per share, with estimates ranging from $218.77 million to $228.90 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow MINDBODY.
MINDBODY (NASDAQ:MB) last issued its earnings results on Thursday, May 4th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $42.20 million during the quarter, compared to analysts’ expectations of $42.09 million. MINDBODY had a negative net margin of 13.60% and a negative return on equity of 19.36%. The business’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.12) earnings per share.
MB has been the topic of several research reports. Roth Capital set a $32.00 price target on shares of MINDBODY and gave the stock a “buy” rating in a report on Tuesday, June 6th. BidaskClub cut shares of MINDBODY from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Morgan Stanley raised their price objective on shares of MINDBODY from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, May 5th. Zacks Investment Research raised shares of MINDBODY from a “sell” rating to a “hold” rating in a research note on Friday, May 19th. Finally, Credit Suisse Group raised their price objective on shares of MINDBODY from $27.00 to $31.00 and gave the stock an “outperform” rating in a research note on Friday, May 5th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $28.60.
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MINDBODY (NASDAQ:MB) opened at 27.85 on Friday. MINDBODY has a one year low of $13.75 and a one year high of $29.75. The firm has a 50-day moving average of $27.63 and a 200 day moving average of $25.60. The stock’s market capitalization is $1.14 billion.
In related news, major shareholder Luxor Capital Group, Lp purchased 469,973 shares of MINDBODY stock in a transaction dated Friday, May 5th. The shares were acquired at an average price of $25.46 per share, for a total transaction of $11,965,512.58. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of MINDBODY stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $27.26, for a total value of $483,565.14. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 1,096,818 shares of company stock worth $29,426,735 and sold 63,543 shares worth $1,752,075. Company insiders own 30.62% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP raised its stake in shares of MINDBODY by 96.3% in the first quarter. Quantbot Technologies LP now owns 3,932 shares of the technology company’s stock valued at $107,000 after buying an additional 1,929 shares during the period. Legal & General Group Plc raised its stake in shares of MINDBODY by 4.1% in the first quarter. Legal & General Group Plc now owns 4,218 shares of the technology company’s stock valued at $116,000 after buying an additional 166 shares during the period. Credit Suisse AG bought a new stake in shares of MINDBODY during the first quarter valued at about $220,000. American International Group Inc. raised its stake in shares of MINDBODY by 7.1% in the first quarter. American International Group Inc. now owns 8,871 shares of the technology company’s stock valued at $244,000 after buying an additional 588 shares during the period. Finally, Tudor Investment Corp ET AL bought a new stake in shares of MINDBODY during the first quarter valued at about $311,000. Institutional investors and hedge funds own 77.21% of the company’s stock.
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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