Equities research analysts expect Mimecast Ltd (NASDAQ:MIME) to report $97.37 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Mimecast’s earnings. The highest sales estimate is $98.40 million and the lowest is $97.00 million. Mimecast posted sales of $78.40 million in the same quarter last year, which suggests a positive year-over-year growth rate of 24.2%. The company is expected to report its next quarterly earnings results after the market closes on Monday, August 5th.
On average, analysts expect that Mimecast will report full-year sales of $421.13 million for the current year, with estimates ranging from $419.79 million to $423.98 million. For the next financial year, analysts anticipate that the company will post sales of $508.77 million, with estimates ranging from $503.50 million to $517.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Mimecast.
Mimecast (NASDAQ:MIME) last posted its quarterly earnings results on Monday, May 13th. The technology company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). Mimecast had a negative return on equity of 2.72% and a negative net margin of 2.06%. The business had revenue of $92.20 million during the quarter, compared to analysts’ expectations of $91.34 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year.
MIME has been the subject of several research analyst reports. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 3,600 ($47.04) price objective on shares of in a report on Friday, May 31st. Cowen cut their price objective on Nordstrom from $44.00 to $36.00 and set a “market perform” rating for the company in a report on Thursday, May 23rd. BMO Capital Markets set a $13.00 price objective on Vale and gave the stock a “hold” rating in a report on Tuesday, May 14th. Bank of America set a $144.00 price target on Walt Disney and gave the company a “buy” rating in a report on Friday, April 12th. Finally, ValuEngine lowered Xylem from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $54.31.
Shares of MIME traded down $1.12 during trading hours on Friday, hitting $49.05. The stock had a trading volume of 5,913 shares, compared to its average volume of 566,866. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.30. Mimecast has a 12 month low of $29.67 and a 12 month high of $54.57. The company has a market cap of $3.08 billion, a price-to-earnings ratio of -703.86, a PEG ratio of 56.82 and a beta of 1.13. The firm has a fifty day moving average price of $45.94.
In other news, CEO Peter Bauer sold 18,750 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $47.56, for a total value of $891,750.00. Following the completion of the transaction, the chief executive officer now owns 35,096 shares of the company’s stock, valued at $1,669,165.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Neil Murray sold 25,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $47.94, for a total value of $1,198,500.00. Following the completion of the transaction, the director now directly owns 2,284,147 shares of the company’s stock, valued at approximately $109,502,007.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 477,746 shares of company stock valued at $22,161,736. Corporate insiders own 29.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Mercantile Trust Co. lifted its position in shares of Mimecast by 223.4% in the first quarter. First Mercantile Trust Co. now owns 1,035 shares of the technology company’s stock worth $49,000 after buying an additional 715 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Mimecast in the first quarter worth about $49,000. NumerixS Investment Technologies Inc lifted its position in shares of Mimecast by 19.5% in the first quarter. NumerixS Investment Technologies Inc now owns 2,390 shares of the technology company’s stock worth $114,000 after buying an additional 390 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Mimecast in the first quarter worth about $188,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Mimecast in the fourth quarter worth about $192,000. 71.70% of the stock is owned by hedge funds and other institutional investors.
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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