Today’s Market Runner: Is Buying MINDBODY Inc Here a Winning Strategy?

Today's Market Runner: Is Buying MINDBODY Inc Here a Winning Strategy?

The stock of MINDBODY Inc (NASDAQ:MB) reached all time high today, Oct, 5 and still has $31.95 target or 55.00% above today’s $20.61 share price. This indicates more upside for the $823.72 million company. This technical setup was reported by If the $31.95 PT is reached, the company will be worth $453.05 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 432,275 shares traded hands or 18.49% up from the average. MINDBODY Inc (NASDAQ:MB) has risen 68.71% since March 2, 2016 and is uptrending. It has outperformed by 60.45% the S&P500.

Analysts await MINDBODY Inc (NASDAQ:MB) to report earnings on November, 2. They expect $-0.18 earnings per share, up 28.00% or $0.07 from last year’s $-0.25 per share. After $-0.16 actual earnings per share reported by MINDBODY Inc for the previous quarter, Wall Street now forecasts 12.50% negative EPS growth.

MINDBODY Inc (NASDAQ:MB) Ratings Coverage

Out of 6 analysts covering Mindbody Inc (NASDAQ:MB), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. Mindbody Inc has been the topic of 7 analyst reports since September 28, 2015 according to StockzIntelligence Inc. As per Friday, September 23, the company rating was initiated by Roth Capital. Imperial Capital maintained MINDBODY Inc (NASDAQ:MB) rating on Friday, July 29. Imperial Capital has “Outperform” rating and $22 price target. On Tuesday, June 7 the stock rating was initiated by Imperial Capital with “Outperform”. The stock of MINDBODY Inc (NASDAQ:MB) has “Equal-Weight” rating given on Monday, September 28 by Morgan Stanley. KeyBanc Capital Markets maintained MINDBODY Inc (NASDAQ:MB) on Tuesday, September 13 with “Overweight” rating.

According to Zacks Investment Research, “MINDBODY, Inc. develops cloud-based business management software and payments platform for the wellness services industry. Its platform enables businesses to manage class and appointment schedules, staff members, client information, online bookings, inventory, payroll and retail sales for yoga, Pilates, barre, indoor cycling, personal training, martial arts and dance exercise, as well as spas, salons, music instruction studios, dance studios, childrens activity center and integrative health centers. MINDBODY, Inc. is headquartered in San Luis Obispo, California.”

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