Mimecast (NASDAQ:MIME) had its price target increased by Jefferies Financial Group from $57.00 to $60.00 in a research report released on Tuesday, The Fly reports. They currently have a buy rating on the technology company’s stock. Jefferies Financial Group also issued estimates for Mimecast’s Q4 2020 earnings at $0.05 EPS, Q1 2021 earnings at $0.05 EPS, Q2 2021 earnings at $0.08 EPS, Q3 2021 earnings at $0.09 EPS, Q4 2021 earnings at $0.11 EPS, FY2021 earnings at $0.33 EPS and FY2022 earnings at $0.51 EPS.
A number of other equities research analysts have also recently weighed in on MIME. Needham & Company LLC reiterated a buy rating and issued a $65.00 price objective on shares of Mimecast in a research note on Friday, November 8th. Zacks Investment Research upgraded Mimecast from a hold rating to a buy rating and set a $56.00 price objective for the company in a research note on Tuesday, January 21st. Robert W. Baird reiterated a buy rating and issued a $60.00 price objective on shares of Mimecast in a research note on Tuesday. BMO Capital Markets reiterated an outperform rating and issued a $53.00 price objective on shares of Mimecast in a research note on Friday, November 8th. Finally, Dougherty & Co cut Mimecast from a buy rating to a neutral rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Mimecast presently has a consensus rating of Buy and an average price target of $58.43.
Shares of NASDAQ MIME opened at $49.02 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.45. Mimecast has a twelve month low of $34.62 and a twelve month high of $54.57. The stock has a 50 day moving average of $48.72 and a two-hundred day moving average of $43.37. The stock has a market cap of $3.06 billion, a P/E ratio of -445.64, a P/E/G 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 for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.02. Mimecast had a negative return on equity of 0.67% and a negative net margin of 1.64%. The company had revenue of $110.16 million during the quarter, compared to analysts’ expectations of $108.12 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. The firm’s revenue for the quarter was up 25.7% on a year-over-year basis. As a group, research analysts predict that Mimecast will post 0.06 earnings per share for the current year.
In other news, CEO Peter Bauer sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $44.52, for a total value of $667,800.00. Following the transaction, the chief executive officer now owns 140,000 shares of the company’s stock, valued at $6,232,800. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Neil Murray sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $49.86, for a total value of $1,745,100.00. Following the completion of the transaction, the director now directly owns 1,626,665 shares in the company, valued at approximately $81,105,516.90. The disclosure for this sale can be found here. In the last three months, insiders sold 120,000 shares of company stock worth $5,424,650. Corporate insiders own 11.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in MIME. Man Group plc grew its holdings in Mimecast by 37.3% during the third quarter. Man Group plc now owns 112,202 shares of the technology company’s stock worth $4,002,000 after acquiring an additional 30,471 shares during the period. Maverick Capital Ltd. acquired a new position in Mimecast during the third quarter worth $3,971,000. Millennium Management LLC grew its holdings in Mimecast by 2,270.3% during the third quarter. Millennium Management LLC now owns 576,156 shares of the technology company’s stock worth $20,551,000 after acquiring an additional 551,849 shares during the period. Beck Bode LLC grew its holdings in Mimecast by 6.7% during the fourth quarter. Beck Bode LLC now owns 22,254 shares of the technology company’s stock worth $965,000 after acquiring an additional 1,403 shares during the period. Finally, GW&K Investment Management LLC grew its holdings in Mimecast by 41.5% during the third quarter. GW&K Investment Management LLC now owns 261,000 shares of the technology company’s stock worth $9,310,000 after acquiring an additional 76,560 shares during the period. 71.52% of the stock is currently owned by institutional investors and hedge funds.
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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