Mimecast Limited (NASDAQ:MIME) Expected to Post Quarterly Sales of $131.08 Million


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Analysts expect Mimecast Limited (NASDAQ:MIME) to announce $131.08 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Mimecast’s earnings, with the highest sales estimate coming in at $131.21 million and the lowest estimate coming in at $131.00 million. Mimecast reported sales of $114.22 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.8%. The firm is expected to report its next quarterly earnings report on Monday, May 10th.

According to Zacks, analysts expect that Mimecast will report full-year sales of $498.59 million for the current financial year, with estimates ranging from $498.50 million to $498.72 million. For the next financial year, analysts expect that the firm will report sales of $562.80 million, with estimates ranging from $561.05 million to $564.11 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Mimecast.

Mimecast (NASDAQ:MIME) last issued its earnings results on Wednesday, February 3rd. The technology company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.09. Mimecast had a net margin of 3.44% and a return on equity of 7.27%. The firm had revenue of $129.60 million during the quarter, compared to analyst estimates of $126.67 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. Mimecast’s revenue for the quarter was up 17.6% on a year-over-year basis.

Several equities analysts have commented on the stock. BMO Capital Markets lowered their price objective on shares of Mimecast from $58.00 to $48.00 and set a “market perform” rating for the company in a research report on Thursday, February 4th. Zacks Investment Research upgraded shares of Mimecast from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Saturday, February 6th. Robert W. Baird lowered their price objective on shares of Mimecast from $57.00 to $52.00 and set an “outperform” rating for the company in a research report on Tuesday, November 3rd. Colliers Securities lowered their price objective on shares of Mimecast from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, February 4th. Finally, Jefferies Financial Group lowered shares of Mimecast from a “buy” rating to a “hold” rating and increased their price objective for the company from $50.00 to $55.00 in a research report on Monday, January 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $52.85.

MIME stock traded down $2.53 during trading on Friday, hitting $42.00. 25,427 shares of the company’s stock traded hands, compared to its average volume of 964,049. Mimecast has a 52 week low of $25.14 and a 52 week high of $59.48. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.19. The business has a fifty day simple moving average of $45.49 and a 200 day simple moving average of $46.26. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 185.54, a P/E/G ratio of 4.96 and a beta of 1.34.

In related news, CEO Peter Bauer sold 17,500 shares of the firm’s stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $43.06, for a total value of $753,550.00. Also, Director Neil Murray sold 35,000 shares of the firm’s stock in a transaction dated Friday, February 19th. The stock was sold at an average price of $45.50, for a total transaction of $1,592,500.00. Following the completion of the transaction, the director now directly owns 990,417 shares in the company, valued at approximately $45,063,973.50. The disclosure for this sale can be found here. Insiders sold a total of 281,500 shares of company stock worth $13,665,100 in the last ninety days. 9.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in Mimecast by 276.4% during the 4th quarter. JPMorgan Chase & Co. now owns 80,165 shares of the technology company’s stock valued at $4,558,000 after purchasing an additional 58,865 shares during the period. Truist Financial Corp increased its position in Mimecast by 82.5% during the 4th quarter. Truist Financial Corp now owns 13,780 shares of the technology company’s stock valued at $784,000 after purchasing an additional 6,231 shares during the period. Voloridge Investment Management LLC purchased a new position in Mimecast during the 4th quarter valued at about $590,000. Washington Harbour Partners LP purchased a new position in Mimecast during the 4th quarter valued at about $7,531,000. Finally, Cim Investment Mangement Inc. purchased a new position in Mimecast during the 4th quarter valued at about $426,000. 83.52% of the stock is currently owned by institutional investors and hedge funds.

Mimecast Company Profile

Mimecast Limited provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security solution, which protects against the delivery of malware, malicious URLs and attachments, spam, viruses, impersonation attacks, phishing, and spear-phishing attacks, including business email compromise, identity theft, extortion, fraud, and other attacks, while also preventing data leaks and other internal threats, as well as provides awareness training services.

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Earnings History and Estimates for Mimecast (NASDAQ:MIME)

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