Mulesoft Inc (MULE) Upgraded to Hold by BidaskClub
BidaskClub upgraded shares of Mulesoft Inc (NASDAQ:MULE) from a sell rating to a hold rating in a research report released on Wednesday.
MULE has been the topic of several other research reports. Barclays PLC restated a hold rating and set a $24.00 price objective on shares of Mulesoft in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Mulesoft from a sell rating to a hold rating in a report on Friday, September 8th. William Blair restated an outperform rating on shares of Mulesoft in a report on Sunday, July 30th. Oppenheimer Holdings, Inc. restated a hold rating on shares of Mulesoft in a report on Monday, September 18th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Mulesoft from a neutral rating to a buy rating and upped their price objective for the stock from $24.00 to $26.00 in a report on Monday. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $26.00.
Shares of Mulesoft (NASDAQ:MULE) traded up 1.32% during midday trading on Wednesday, hitting $23.02. 850,783 shares of the stock traded hands. The firm has a 50-day moving average price of $20.97 and a 200-day moving average price of $23.04. The stock’s market capitalization is $2.97 billion. Mulesoft has a 52 week low of $19.40 and a 52 week high of $29.00.
Mulesoft (NASDAQ:MULE) last released its quarterly earnings data on Thursday, July 27th. The company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. Mulesoft had a negative net margin of 28.36% and a negative return on equity of 30.07%. The firm had revenue of $69.20 million for the quarter, compared to the consensus estimate of $63.63 million. The business’s revenue was up 57.3% on a year-over-year basis. On average, equities analysts predict that Mulesoft will post ($0.39) earnings per share for the current fiscal year.
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In other news, major shareholder Ventures Fund I. L.P. Sapphire sold 1,100,000 shares of the company’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $21.47, for a total value of $23,617,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Paulson & CO. Inc. grew its stake in shares of Mulesoft by 115.0% in the 2nd quarter. Paulson & CO. Inc. now owns 43,000 shares of the company’s stock worth $1,072,000 after acquiring an additional 23,000 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Mulesoft by 53.6% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,202,994 shares of the company’s stock worth $30,003,000 after acquiring an additional 420,025 shares in the last quarter. California State Teachers Retirement System bought a new stake in shares of Mulesoft in the 2nd quarter worth $668,000. The Manufacturers Life Insurance Company bought a new stake in shares of Mulesoft in the 2nd quarter worth $293,000. Finally, Sylebra HK Co Ltd bought a new stake in shares of Mulesoft in the 2nd quarter worth $10,992,000.
MuleSoft, Inc is engaged in providing a software platform that connects a range of technologies. The Company enables organizations to manage and secure the flow of data between all systems in the enterprise. The Company offers organizations to create agile infrastructures. The Company has developed Anypoint Platform.
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