Mimecast (NASDAQ:MIME) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
Other research analysts also recently issued research reports about the stock. BMO Capital Markets cut their price target on shares of Mimecast from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Friday, August 10th. Robert W. Baird began coverage on shares of Mimecast in a report on Wednesday, October 17th. They set an “outperform” rating and a $45.00 price target on the stock. BidaskClub upgraded shares of Mimecast from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 1st. Summit Insights downgraded shares of Mimecast from a “buy” rating to a “hold” rating in a report on Monday, October 29th. Finally, Zacks Investment Research upgraded shares of Mimecast from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, November 16th. Four equities 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 company. The company has an average rating of “Buy” and an average price target of $44.77.
Mimecast stock opened at $36.68 on Wednesday. The firm has a market cap of $2.16 billion, a PE ratio of -193.05 and a beta of 0.83. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.20. Mimecast has a 1-year low of $26.50 and a 1-year high of $46.87.
Mimecast (NASDAQ:MIME) last released its quarterly earnings results on Thursday, November 8th. The technology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The business had revenue of $82.17 million for the quarter, compared to the consensus estimate of $80.77 million. Mimecast had a negative net margin of 5.44% and a negative return on equity of 10.33%. The business’s quarterly revenue was up 30.2% compared to the same quarter last year. On average, research analysts expect that Mimecast will post -0.03 EPS for the current year.
In related news, COO Edward Vincent Jennings sold 7,500 shares of Mimecast stock in a transaction on Monday, October 22nd. The shares were sold at an average price of $34.59, for a total value of $259,425.00. Following the transaction, the chief operating officer now owns 7,500 shares in the company, valued at approximately $259,425. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Peter Bauer sold 11,250 shares of Mimecast stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $34.60, for a total transaction of $389,250.00. Following the completion of the transaction, the chief executive officer now owns 101,250 shares in the company, valued at approximately $3,503,250. The disclosure for this sale can be found here. Insiders sold a total of 162,934 shares of company stock worth $6,039,989 in the last quarter. Insiders own 29.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in MIME. Insight Holdings Group LLC bought a new position in Mimecast in the 2nd quarter worth $391,814,000. Scge Management L.P. acquired a new stake in Mimecast in the 3rd quarter worth $40,205,000. Wells Fargo & Company MN grew its position in Mimecast by 14,742.5% in the 3rd quarter. Wells Fargo & Company MN now owns 542,047 shares of the technology company’s stock worth $22,701,000 after purchasing an additional 538,395 shares during the last quarter. Whale Rock Capital Management LLC grew its position in Mimecast by 46.5% in the 2nd quarter. Whale Rock Capital Management LLC now owns 1,206,131 shares of the technology company’s stock worth $49,705,000 after purchasing an additional 382,777 shares during the last quarter. Finally, Brown Advisory Inc. grew its position in Mimecast by 17.6% in the 3rd quarter. Brown Advisory Inc. now owns 2,380,704 shares of the technology company’s stock worth $99,704,000 after purchasing an additional 356,750 shares during the last quarter. Hedge funds and other institutional investors own 70.61% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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