What Will Happen to MINDBODY, Inc. (MB) Next? The Stock Formed a Several Months Multiple Top

October 2, 2018 - By Marguerite Chambers


The stock of MINDBODY, Inc. (MB) shows a multiple tops pattern with $41.82 target or 3.00 % above today’s $40.60 share price. The 6 months chart pattern indicates low risk for the $1.94B company. It was reported on Oct, 2 by Finviz.com. If the $41.82 price target is reached, the company will be worth $58.14M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 0.12% or $0.05 during the last trading session, reaching $40.6. About 937,197 shares traded or 47.67% up from the average. MINDBODY, Inc. (NASDAQ:MB) has risen 56.94% since October 2, 2017 and is uptrending. It has outperformed by 41.32% the S&P500.

Analysts await MINDBODY, Inc. (NASDAQ:MB) to report earnings on October, 25. They expect $-0.19 EPS, down 171.43 % or $0.12 from last year’s $-0.07 per share. After $-0.22 actual EPS reported by MINDBODY, Inc. for the previous quarter, Wall Street now forecasts -13.64 % EPS growth.

MINDBODY, Inc. (NASDAQ:MB) Ratings Coverage

Among 6 analysts covering MINDBODY (NASDAQ:MB), 2 have Buy rating, 0 Sell and 4 Hold. Therefore 33% are positive. MINDBODY has $4500 highest and $38 lowest target. $39.20’s average target is -3.45% below currents $40.6 stock price. MINDBODY had 8 analyst reports since April 16, 2018 according to SRatingsIntel. The company was downgraded on Wednesday, May 9 by Craig Hallum. The rating was downgraded by Credit Suisse to “Neutral” on Wednesday, May 9. The company was maintained on Wednesday, August 1 by Morgan Stanley. Morgan Stanley maintained MINDBODY, Inc. (NASDAQ:MB) rating on Wednesday, May 9. Morgan Stanley has “Equal-Weight” rating and $42 target. The firm has “Buy” rating by Jefferies given on Monday, April 16. The company was maintained on Wednesday, August 1 by Credit Suisse.

MINDBODY, Inc. operates a cloud-based business management software and payments platform for the small and medium-sized businesses in the wellness services industry. The company has market cap of $1.94 billion. The Company’s platform enables businesses to run, market, and build client scheduling and online booking, staff management, client relationship management, integrated payment processing, retail point-of-sale, analytics and reporting, simple and intuitive user experience, mobility, branded Web, social integration, cloud architecture, open platform for third-party application development, security and compliance, and integration with other cloud partners for yoga, Pilates, barre, indoor cycling, personal training, martial arts, and dance exercise, spas, salons, music instruction studios, dance studios, children's activity centers, and integrative health centers. It currently has negative earnings. The firm offers its software platform to its subscribers as a subscription service.

MINDBODY, Inc. (NASDAQ:MB) Ratings Chart

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