BidaskClub upgraded shares of Mimecast (NASDAQ:MIME) from a hold rating to a buy rating in a research report sent to investors on Saturday.
Several other research firms have also commented on MIME. Zacks Investment Research raised Mimecast from a sell rating to a hold rating in a report on Wednesday, September 12th. Monness Crespi & Hardt raised Mimecast from a neutral rating to a buy rating and set a $48.00 target price on the stock in a report on Thursday, September 13th. BMO Capital Markets dropped their target price on Mimecast from $48.00 to $47.00 and set an outperform rating on the stock in a report on Friday, August 10th. JPMorgan Chase & Co. increased their target price on Mimecast from $44.00 to $46.00 and gave the company a neutral rating in a report on Friday, August 10th. Finally, SunTrust Banks assumed coverage on Mimecast in a report on Tuesday, September 18th. They issued a buy rating and a $54.00 target price on the stock. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $45.46.
NASDAQ:MIME opened at $34.45 on Friday. The firm has a market capitalization of $2.14 billion, a P/E ratio of -181.32 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.41 and a current ratio of 1.41. Mimecast has a 12 month low of $26.50 and a 12 month high of $46.87.
Mimecast (NASDAQ:MIME) last posted its earnings results on Thursday, August 9th. The technology company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $78.40 million for the quarter, compared to analyst estimates of $76.71 million. Mimecast had a negative return on equity of 11.41% and a negative net margin of 5.55%. Mimecast’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 earnings per share. Analysts predict that Mimecast will post -0.13 EPS for the current fiscal year.
In other Mimecast news, Director Christopher Fitzgerald sold 6,000 shares of the firm’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $40.98, for a total transaction of $245,880.00. Following the transaction, the director now owns 27,821 shares of the company’s stock, valued at $1,140,104.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Peter Bauer sold 103,750 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $39.48, for a total value of $4,096,050.00. Following the transaction, the chief executive officer now directly owns 216,250 shares in the company, valued at approximately $8,537,550. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 262,584 shares of company stock worth $10,211,245. Corporate insiders own 29.00% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Insight Holdings Group LLC acquired a new stake in shares of Mimecast during the second quarter worth about $391,814,000. Brown Advisory Inc. boosted its stake in shares of Mimecast by 0.9% during the second quarter. Brown Advisory Inc. now owns 2,023,954 shares of the technology company’s stock worth $83,408,000 after buying an additional 17,156 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Mimecast by 11.7% during the second quarter. Renaissance Technologies LLC now owns 1,411,890 shares of the technology company’s stock worth $58,184,000 after buying an additional 147,590 shares during the period. FMR LLC boosted its stake in shares of Mimecast by 14.5% during the second quarter. FMR LLC now owns 1,278,693 shares of the technology company’s stock worth $52,695,000 after buying an additional 161,449 shares during the period. Finally, Whale Rock Capital Management LLC boosted its stake in shares of Mimecast by 46.5% during the second quarter. Whale Rock Capital Management LLC now owns 1,206,131 shares of the technology company’s stock worth $49,705,000 after buying an additional 382,777 shares during the period. Institutional investors and hedge funds own 65.89% 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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