Mimecast (NASDAQ:MIME) had its price target boosted by Monness Crespi & Hardt from $58.00 to $60.00 in a report published on Tuesday, Briefing.com Automated Import reports. They currently have a buy rating on the technology company’s stock.
Several other research analysts have also commented on MIME. Needham & Company LLC reaffirmed a buy rating and set a $65.00 price target on shares of Mimecast in a research report on Friday, November 8th. BMO Capital Markets reaffirmed an outperform rating and set a $58.00 price target on shares of Mimecast in a research report on Tuesday. They noted that the move was a valuation call. ValuEngine raised Mimecast from a sell rating to a hold rating in a research report on Friday, January 3rd. Dougherty & Co lowered Mimecast from a buy rating to a neutral rating in a research report on Friday, November 8th. Finally, BidaskClub raised Mimecast from a buy rating to a strong-buy rating in a research report on Tuesday. Four investment 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 stock. Mimecast presently has a consensus rating of Buy and an average price target of $58.43.
MIME opened at $49.02 on Tuesday. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -445.64, a price-to-earnings-growth ratio of 42.60 and a beta of 1.14. Mimecast has a 52 week low of $34.62 and a 52 week high of $54.57. The business’s 50 day moving average is $48.72 and its two-hundred day moving average is $43.37. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.45.
Mimecast (NASDAQ:MIME) last released its quarterly earnings results on Monday, February 10th. The technology company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $110.16 million for the quarter, compared to analyst estimates of $108.12 million. Mimecast had a negative return on equity of 0.67% and a negative net margin of 1.64%. The firm’s revenue was up 25.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. Equities analysts expect that Mimecast will post 0.06 EPS for the current fiscal year.
In other news, Director Neil Murray sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $49.86, for a total value of $1,745,100.00. Following the transaction, the director now owns 1,626,665 shares of the company’s stock, valued at $81,105,516.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Peter Bauer sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $44.52, for a total value of $667,800.00. Following the completion of the transaction, the chief executive officer now directly owns 140,000 shares in the company, valued at approximately $6,232,800. The disclosure for this sale can be found here. In the last three months, insiders sold 120,000 shares of company stock worth $5,424,650. Corporate insiders own 11.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Bain Capital Public Equity Management II LLC increased its holdings in shares of Mimecast by 9.7% in the fourth quarter. Bain Capital Public Equity Management II LLC now owns 968,047 shares of the technology company’s stock valued at $41,994,000 after purchasing an additional 85,983 shares during the period. First Trust Advisors LP boosted its stake in shares of Mimecast by 4.9% in the fourth quarter. First Trust Advisors LP now owns 838,127 shares of the technology company’s stock valued at $36,358,000 after buying an additional 39,108 shares in the last quarter. FMR LLC boosted its stake in shares of Mimecast by 0.3% in the fourth quarter. FMR LLC now owns 800,882 shares of the technology company’s stock valued at $34,742,000 after buying an additional 2,041 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Mimecast in the fourth quarter valued at approximately $32,614,000. Finally, Millennium Management LLC boosted its stake in shares of Mimecast by 2,270.3% in the third quarter. Millennium Management LLC now owns 576,156 shares of the technology company’s stock valued at $20,551,000 after buying an additional 551,849 shares in the last quarter. 71.52% of the stock is currently owned by institutional investors and hedge funds.
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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