In a report released today, Darren Aftahi from Roth Capital maintained a Hold rating on MINDBODY (MB), with a price target of $32. The company’s shares closed yesterday at $26.21, close to its 52-week low of $23.02.
Aftahi observed:
“We hosted MB’s CFO Brett White at our Utah Conference. We believe marketing upsell (via Frederick integration) remains one of the biggest ARPS opportunities across its installed base, and the reason we expect price increases for 2019. While we remain positive on 2019 ARPS outlook, we think Solo, legacy MB subs, and lower-priced tier Booker clients could weigh on overall sub net additions in 1Q19 (and perhaps 2Q19). Beyond that, we see overall growth potentially improving. We reiterate our Neutral. Integration of marketing automation into broader product suite could lead to price increases come 2019. We have long believed that SMB marketing is a key component to the MB story that has been missing.”
According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 9.1% and a 49.5% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine Inc, The Meet Group Inc, and Mitek Systems Inc.
Currently, the analyst consensus on MINDBODY is a Moderate Buy with an average price target of $35.44.
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The company has a one-year high of $45.50 and a one-year low of $23.02. Currently, MINDBODY has an average volume of 934.5K.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock.
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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.
