KeyBanc analyst Brent Bracelin downgraded MINDBODY (MB) to Hold yesterday. The company’s shares closed yesterday at $36.72.
Bracelin observed:
“We continue to view the Booker acquisition to be transformative and necessary for Mindbody to diversify the revenue stream beyond the fitness and health vertical into the untapped beauty marketplace. That said, the integration, pricing, and go-to-market changes for the combined operation proved to be a more challenging beast than management anticipated, which has heightened near-term execution risks entering 2019. Further changes as it implements a new payments platform and from additional industry consolidation opportunities paint a picture of an SMB business ripe with opportunity but one that faces an increasing amount of uncertainty and less predictability. Given the number of potential changes, the private equity path makes the most sense to us.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 20.4% and a 71.0% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Salesforce.com, and Everbridge Inc.
MINDBODY has an analyst consensus of Moderate Buy, with a price target consensus of $37.65, a 2.5% upside from current levels. In a report issued on December 26, Imperial Capital also downgraded the stock to Hold with a $36.50 price target.
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The company has a one-year high of $45.50 and a one-year low of $21.61. Currently, MINDBODY has an average volume of 1.52M.
Based on the recent corporate insider activity of 64 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.
