BidaskClub downgraded shares of Mimecast (NASDAQ:MIME) from a buy rating to a hold rating in a research note published on Wednesday.
MIME has been the subject of a number of other reports. JPMorgan Chase lowered Mimecast from an overweight rating to a neutral rating and set a $35.00 target price for the company. in a research report on Tuesday, December 12th. Deutsche Bank began coverage on Mimecast in a research report on Tuesday, December 19th. They set a buy rating and a $35.00 target price for the company. Needham & Company LLC lifted their target price on Mimecast from $38.00 to $40.00 and gave the company a buy rating in a research report on Tuesday, February 13th. BMO Capital Markets lifted their target price on Mimecast from $35.00 to $38.00 and gave the company an outperform rating in a research report on Tuesday, February 13th. Finally, Barclays lifted their target price on Mimecast from $34.00 to $36.00 and gave the company an overweight rating in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $36.00.
MIME opened at $35.01 on Wednesday. Mimecast has a 52-week low of $21.43 and a 52-week high of $39.33. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.41.
Mimecast (NASDAQ:MIME) last posted its quarterly earnings data on Monday, February 12th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01. Mimecast had a negative return on equity of 9.88% and a negative net margin of 3.51%. The company had revenue of $67.30 million during the quarter, compared to analysts’ expectations of $64.92 million. The company’s revenue was up 39.3% on a year-over-year basis. equities analysts expect that Mimecast will post -0.17 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Macquarie Group Ltd. raised its position in shares of Mimecast by 13.2% in the 4th quarter. Macquarie Group Ltd. now owns 204,778 shares of the technology company’s stock worth $5,871,000 after acquiring an additional 23,906 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Mimecast in the 4th quarter worth $2,417,000. Renaissance Technologies LLC raised its position in shares of Mimecast by 14.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,109,900 shares of the technology company’s stock worth $31,821,000 after acquiring an additional 142,500 shares in the last quarter. Invictus RG raised its position in shares of Mimecast by 377.1% in the 4th quarter. Invictus RG now owns 23,961 shares of the technology company’s stock worth $687,000 after acquiring an additional 18,939 shares in the last quarter. Finally, Next Century Growth Investors LLC raised its position in shares of Mimecast by 59.6% in the 4th quarter. Next Century Growth Investors LLC now owns 185,450 shares of the technology company’s stock worth $5,316,000 after acquiring an additional 69,260 shares in the last quarter. 64.57% of the stock is owned by institutional investors and hedge funds.
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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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