BMO Capital Markets reaffirmed their outperform rating on shares of Mimecast (NASDAQ:MIME) in a research report report published on Tuesday, The Fly reports. They currently have a $58.00 price target on the technology company’s stock. The analysts noted that the move was a valuation call.
Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group upped their price objective on shares of Mimecast from $57.00 to $60.00 and gave the stock a buy rating in a research report on Tuesday. ValuEngine raised shares of Mimecast from a sell rating to a hold rating in a research report on Friday, January 3rd. BidaskClub raised shares of Mimecast from a buy rating to a strong-buy rating in a research report on Tuesday. Needham & Company LLC reaffirmed a buy rating and issued a $65.00 price objective on shares of Mimecast in a research report on Friday, November 8th. Finally, Monness Crespi & Hardt upped their price objective on shares of Mimecast from $55.00 to $58.00 and gave the stock a buy rating in a research report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $58.43.
NASDAQ:MIME opened at $49.02 on Tuesday. Mimecast has a one year low of $34.62 and a one year high of $54.57. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a 50-day moving average of $48.72 and a 200-day moving average of $43.37. The company has a market cap of $3.06 billion, a PE ratio of -445.64, a PEG ratio of 42.60 and a beta of 1.14.
Mimecast (NASDAQ:MIME) last issued its quarterly earnings data on Monday, February 10th. The technology company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.02. Mimecast had a negative net margin of 1.64% and a negative return on equity of 0.67%. The business had revenue of $110.16 million during the quarter, compared to the consensus estimate of $108.12 million. During the same period in the prior year, the firm posted $0.09 EPS. The firm’s quarterly revenue was up 25.7% compared to the same quarter last year. On average, equities research analysts expect that Mimecast will post 0.06 earnings per share for the current fiscal year.
In other Mimecast news, CEO Peter Bauer sold 15,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $44.52, for a total value of $667,800.00. Following the transaction, the chief executive officer now directly owns 140,000 shares in the company, valued at $6,232,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Neil Murray sold 35,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $49.86, for a total transaction of $1,745,100.00. Following the completion of the transaction, the director now owns 1,626,665 shares in the company, valued at $81,105,516.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 120,000 shares of company stock worth $5,424,650. Corporate insiders own 11.60% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE lifted its stake in shares of Mimecast by 3.0% during the 4th quarter. US Bancorp DE now owns 22,424 shares of the technology company’s stock valued at $973,000 after buying an additional 644 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Mimecast by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 51,294 shares of the technology company’s stock valued at $2,226,000 after buying an additional 806 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Mimecast by 9.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,804 shares of the technology company’s stock valued at $425,000 after buying an additional 884 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Mimecast during the 1st quarter valued at approximately $49,000. Finally, Michael & Susan Dell Foundation lifted its stake in shares of Mimecast by 11.3% during the 3rd quarter. Michael & Susan Dell Foundation now owns 10,860 shares of the technology company’s stock valued at $387,000 after buying an additional 1,106 shares in the last quarter. Hedge funds and other institutional investors own 71.52% of the company’s stock.
Mimecast Company Profile
Mimecast Limited, a email and data security company, provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security services, including targeted threat protection services, such as URL Protect that addresses the threat from emails containing malicious links; Attachment Protect that reduces threat from weaponized or malware-laden attachments used in spear-phishing and other attacks; Impersonation Protect that gives protection from malware-less social engineering attacks; and Internal Email Protect, which allows customers to monitor, detect, and remediate security threats that originate from within their internal email systems.
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