Mimecast Limited (NASDAQ:MIME)‘s stock had its “buy” rating reaffirmed by research analysts at Oppenheimer Holdings, Inc. in a research report issued to clients and investors on Thursday. They presently have a $35.00 price objective on the technology company’s stock, up from their previous price objective of $32.00. Oppenheimer Holdings, Inc.’s price target would indicate a potential upside of 13.05% from the company’s current price.
Several other equities research analysts have also recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 price target (up previously from $33.00) on shares of Mimecast Limited in a research note on Thursday. Dougherty & Co increased their price target on Mimecast Limited from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Zacks Investment Research cut Mimecast Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Needham & Company LLC reissued a “buy” rating and issued a $35.00 price target on shares of Mimecast Limited in a research note on Tuesday, September 12th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $35.00 price target on shares of Mimecast Limited in a research note on Sunday, September 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $32.83.
Shares of Mimecast Limited (NASDAQ MIME) traded up $0.21 during mid-day trading on Thursday, hitting $30.96. The stock had a trading volume of 276,500 shares, compared to its average volume of 299,599. The company has a quick ratio of 1.41, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. Mimecast Limited has a 12 month low of $16.75 and a 12 month high of $32.00.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Airain ltd grew its stake in Mimecast Limited by 1.8% during the second quarter. Airain ltd now owns 16,906 shares of the technology company’s stock worth $453,000 after purchasing an additional 294 shares during the period. US Bancorp DE grew its stake in Mimecast Limited by 11.9% during the second quarter. US Bancorp DE now owns 7,155 shares of the technology company’s stock worth $192,000 after purchasing an additional 759 shares during the period. First Mercantile Trust Co. grew its stake in Mimecast Limited by 15.3% during the second quarter. First Mercantile Trust Co. now owns 14,272 shares of the technology company’s stock worth $382,000 after purchasing an additional 1,897 shares during the period. JPMorgan Chase & Co. grew its stake in Mimecast Limited by 15.8% during the first quarter. JPMorgan Chase & Co. now owns 17,497 shares of the technology company’s stock worth $392,000 after purchasing an additional 2,385 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Mimecast Limited during the second quarter worth approximately $104,000. 52.85% of the stock is owned by institutional investors and hedge funds.
Mimecast Limited Company Profile
Mimecast Limited is a provider of cloud security and risk management services for corporate information and e-mail. The Company’s suite of cloud services protects customers from the business and data security risks. It also mitigates the business disruption that e-mail failure or downtime causes. In addition, its archiving services secure, store and manage critical corporate communications and information to address the compliance and e-discovery requirements.
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