Mimecast (NASDAQ:MIME) was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.
MIME has been the topic of several other reports. Monness Crespi & Hardt restated a “buy” rating and set a $52.00 price objective (up from $45.00) on shares of Mimecast in a research note on Tuesday, February 12th. Bank of America assumed coverage on Mimecast in a research note on Friday, April 12th. They set a “buy” rating and a $60.00 price objective on the stock. Imperial Capital restated an “outperform” rating and set a $55.00 price objective (up from $52.00) on shares of Mimecast in a research note on Tuesday. BMO Capital Markets raised their price objective on Mimecast from $43.00 to $52.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 12th. Finally, Jefferies Financial Group raised their price objective on Mimecast to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, February 12th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Mimecast presently has a consensus rating of “Buy” and a consensus price target of $53.13.
MIME stock opened at $46.88 on Tuesday. Mimecast has a twelve month low of $29.67 and a twelve month high of $54.57. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $2.87 billion, a PE ratio of -669.71, a P/E/G ratio of 14.83 and a beta of 1.10.
Mimecast (NASDAQ:MIME) last announced its quarterly earnings data on Monday, May 13th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). Mimecast had a negative return on equity of 2.85% and a negative net margin of 2.06%. The firm had revenue of $92.20 million for the quarter, compared to the consensus estimate of $91.34 million. During the same quarter last year, the business earned ($0.05) earnings per share. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, analysts anticipate that Mimecast will post 0.16 EPS for the current year.
In other Mimecast news, CEO Peter Bauer sold 18,750 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $47.56, for a total value of $891,750.00. Following the sale, the chief executive officer now directly owns 35,096 shares in the company, valued at $1,669,165.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Edward Vincent Jennings sold 11,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $49.11, for a total value of $540,210.00. Following the completion of the sale, the chief operating officer now owns 12,251 shares in the company, valued at $601,646.61. The disclosure for this sale can be found here. Insiders sold 371,250 shares of company stock worth $17,804,860 over the last quarter. 29.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of MIME. Dimensional Fund Advisors LP bought a new stake in shares of Mimecast during the third quarter valued at about $5,329,000. LPL Financial LLC bought a new stake in shares of Mimecast during the third quarter valued at about $256,000. Vanguard Group Inc. bought a new stake in shares of Mimecast during the third quarter valued at about $368,000. Vanguard Group Inc bought a new stake in shares of Mimecast during the third quarter valued at about $368,000. Finally, Macnealy Hoover Investment Management Inc. raised its stake in shares of Mimecast by 9.9% during the fourth quarter. Macnealy Hoover Investment Management Inc. now owns 14,425 shares of the technology company’s stock valued at $485,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors own 64.43% of the company’s stock.
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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