In a report released yesterday, Brent Bracelin from KeyBanc maintained a Buy rating on MINDBODY (NASDAQ: MB), with a price target of $47. The company’s shares closed yesterday at $43.75, close to its 52-week high of $45.50.
Bracelin noted:
“We remain bullish on MB as it further expands into beauty and wellness; we see share gains contributing to revenue of $400M by 2020. We recommend small-cap growth investors add to positions on weakness. Price increase helped sustain 30%-plus subscription growth.”
According to TipRanks.com, Bracelin is a top 100 analyst with an average return of 20.4% and a 76.4% success rate. Bracelin covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Tyler Technologies, and Microsoft Corp.
MINDBODY has an analyst consensus of Strong Buy, with a price target consensus of $45.33.
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Based on MINDBODY’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $2.88 million. In comparison, last year the company had a GAAP net loss of $3.91 million.
Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MB in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
MINDBODY, Inc. enganges in cloud based business management software and payments platform. It provides the following solutions: client scheduling and online booking, staff management, client relationship management, integrated software and payments, retail point-of-sale, analytics and reporting, simple and intuitive user experience, mobility, social integration, dynamic cloud-based architecture, open platform for third party application development, security and compliance, and integration with other cloud-based partners. The company was founded by Robert Murphy and Richard L. Stollmeyer in 1998 and is headquartered in San Luis Obispo, CA.
