Wedbush restated their neutral rating on shares of Mimecast (NASDAQ:MIME) in a report published on Tuesday, RTT News reports. Wedbush currently has a $50.00 price target on the technology company’s stock, up from their previous price target of $47.00. Wedbush also issued estimates for Mimecast’s Q1 2020 earnings at ($0.02) EPS, FY2020 earnings at $0.07 EPS, Q1 2021 earnings at $0.02 EPS, Q2 2021 earnings at $0.06 EPS, Q3 2021 earnings at $0.08 EPS, Q4 2021 earnings at $0.11 EPS and FY2021 earnings at $0.28 EPS.
Several other research firms also recently commented on MIME. Needham & Company LLC reaffirmed a buy rating and issued a $65.00 price objective (up from $52.00) on shares of Mimecast in a report on Monday, May 6th. BidaskClub raised shares of Mimecast from a buy rating to a strong-buy rating in a report on Tuesday, April 16th. Zacks Investment Research raised shares of Mimecast from a hold rating to a buy rating and set a $56.00 price target for the company in a report on Friday, February 15th. Deutsche Bank raised their price target on shares of Mimecast to $52.00 and gave the company a buy rating in a report on Tuesday, February 12th. Finally, Royal Bank of Canada raised their price target on shares of Mimecast to $52.00 and gave the company an outperform rating in a report on Tuesday, February 12th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Mimecast has an average rating of Buy and a consensus target price of $53.13.
Shares of MIME stock traded down $1.21 during trading hours on Tuesday, hitting $45.72. 136,375 shares of the company were exchanged, compared to its average volume of 673,720. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.20. Mimecast has a 52-week low of $29.67 and a 52-week high of $54.57. The firm has a market cap of $2.84 billion, a P/E ratio of -653.14, a PEG ratio of 14.65 and a beta of 1.10.
Mimecast (NASDAQ:MIME) last released its quarterly earnings data on Monday, May 13th. The technology company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). The business had revenue of $92.20 million during the quarter, compared to the consensus estimate of $91.34 million. Mimecast had a negative return on equity of 2.85% and a negative net margin of 2.06%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period last year, the business posted ($0.05) earnings per share. As a group, equities analysts expect that Mimecast will post 0.16 EPS for the current year.
In related news, COO Edward Vincent Jennings sold 11,000 shares of Mimecast stock in a transaction on Monday, March 11th. The shares were sold at an average price of $45.76, for a total value of $503,360.00. Following the transaction, the chief operating officer now owns 11,000 shares in the company, valued at approximately $503,360. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Neil Murray sold 25,000 shares of Mimecast stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $48.31, for a total transaction of $1,207,750.00. Following the completion of the transaction, the insider now owns 2,331,665 shares in the company, valued at approximately $112,642,736.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 371,250 shares of company stock worth $17,804,860. 29.00% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of Mimecast by 17.1% in the first quarter. FMR LLC now owns 1,320,416 shares of the technology company’s stock valued at $62,522,000 after acquiring an additional 193,185 shares during the period. Whale Rock Capital Management LLC boosted its stake in shares of Mimecast by 22.6% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,990,748 shares of the technology company’s stock valued at $94,262,000 after purchasing an additional 367,062 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of Mimecast during the 1st quarter valued at about $369,000. Morgan Stanley boosted its stake in shares of Mimecast by 906.4% during the 1st quarter. Morgan Stanley now owns 685,099 shares of the technology company’s stock valued at $32,440,000 after purchasing an additional 617,022 shares in the last quarter. Finally, Man Group plc bought a new stake in shares of Mimecast during the 1st quarter valued at about $2,177,000. 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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