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After Imperial Capital and Wells Fargo gave MINDBODY (NASDAQ: MB) a Buy rating last month, the company received another Buy, this time from Roth Capital. Analyst Darren Aftahi maintained a Buy rating on MINDBODY today and set a price target of $48. The company’s shares closed yesterday at $41.05.
According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 15.9% and a 55.3% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine Inc, The Meet Group Inc, and Mitek Systems Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for MINDBODY with a $45.14 average price target, which is a 10.0% upside from current levels. In a report issued on September 7, Wells Fargo also initiated coverage with a Buy rating on the stock with a $45 price target.
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Based on MINDBODY’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $16.89 million. In comparison, last year the company had a GAAP net loss of $4.38 million.
Based on the recent corporate insider activity of 73 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.
