Mulesoft (NYSE:MULE) was downgraded by investment analysts at Piper Jaffray from an “overweight” rating to a “neutral” rating in a research report issued on Monday.
MULE has been the subject of a number of other reports. Barclays raised shares of Mulesoft from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $28.00 to $29.00 in a research report on Monday, January 8th. Zacks Investment Research lowered shares of Mulesoft from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Oppenheimer increased their price target on shares of Mulesoft from $32.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 6th. Canaccord Genuity increased their price target on shares of Mulesoft from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Nomura initiated coverage on shares of Mulesoft in a research report on Tuesday, January 23rd. They issued a “buy” rating and a $30.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $32.70.
Shares of MULE traded down $0.08 during midday trading on Monday, hitting $43.90. The stock had a trading volume of 4,295,527 shares, compared to its average volume of 3,093,776. Mulesoft has a fifty-two week low of $19.40 and a fifty-two week high of $44.58. The stock has a market cap of $5,783.37 and a price-to-earnings ratio of -65.48.
Mulesoft (NYSE:MULE) last announced its earnings results on Thursday, February 15th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.07. Mulesoft had a negative net margin of 26.98% and a negative return on equity of 32.10%. The company had revenue of $88.70 million during the quarter, compared to analysts’ expectations of $83.56 million. During the same period last year, the company posted ($0.10) earnings per share. The business’s revenue for the quarter was up 60.1% on a year-over-year basis. sell-side analysts forecast that Mulesoft will post -0.63 EPS for the current year.
In related news, CFO Matt Langdon sold 46,520 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $31.17, for a total transaction of $1,450,028.40. Following the transaction, the chief financial officer now owns 66,531 shares of the company’s stock, valued at $2,073,771.27. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Gregory George Schott sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $30.10, for a total transaction of $4,515,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 457,614 shares of company stock worth $13,814,363.
A number of institutional investors and hedge funds have recently modified their holdings of MULE. Macquarie Group Ltd. raised its position in Mulesoft by 350.0% during the fourth quarter. Macquarie Group Ltd. now owns 5,400 shares of the company’s stock valued at $126,000 after acquiring an additional 4,200 shares in the last quarter. Bank of Montreal Can raised its position in Mulesoft by 71,250.0% during the fourth quarter. Bank of Montreal Can now owns 5,708 shares of the company’s stock valued at $133,000 after acquiring an additional 5,700 shares in the last quarter. Gilder Gagnon Howe & Co. LLC grew its holdings in Mulesoft by 852.0% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 9,682 shares of the company’s stock valued at $225,000 after purchasing an additional 8,665 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Mulesoft during the fourth quarter valued at approximately $271,000. Finally, MetLife Investment Advisors LLC acquired a new position in Mulesoft during the fourth quarter valued at approximately $273,000. 51.07% of the stock is currently owned by hedge funds and other institutional investors.
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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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