Oppenheimer reaffirmed their buy rating on shares of Mimecast (NASDAQ:MIME) in a research report released on Monday, December 18th. They currently have a $35.00 price target on the technology company’s stock.
Other equities analysts have also issued reports about the stock. Needham & Company LLC restated a buy rating and issued a $35.00 price objective on shares of Mimecast in a report on Tuesday, September 12th. Jefferies Group restated a buy rating and issued a $35.00 price objective on shares of Mimecast in a report on Sunday, September 10th. Dougherty & Co boosted their price objective on shares of Mimecast from $32.00 to $36.00 and gave the stock a buy rating in a report on Monday, November 6th. Royal Bank of Canada restated a buy rating and issued a $33.00 price objective on shares of Mimecast in a report on Wednesday, October 18th. Finally, JPMorgan Chase & Co. downgraded shares of Mimecast from an overweight rating to a neutral rating and set a $35.00 target price for the company. in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company’s stock. Mimecast has an average rating of Buy and an average price target of $33.77.
Shares of Mimecast (NASDAQ MIME) traded down $0.46 during midday trading on Monday, reaching $32.29. 184,644 shares of the company were exchanged, compared to its average volume of 313,333. Mimecast has a 52 week low of $19.12 and a 52 week high of $33.05. The stock has a market cap of $1,850.00 and a price-to-earnings ratio of -189.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 1.42.
Several hedge funds have recently modified their holdings of MIME. Bank of America Corp DE grew its position in shares of Mimecast by 45.2% during the 1st quarter. Bank of America Corp DE now owns 13,111 shares of the technology company’s stock valued at $294,000 after acquiring an additional 4,083 shares during the period. US Bancorp DE grew its position in shares of Mimecast by 11.9% during the 2nd quarter. US Bancorp DE now owns 7,155 shares of the technology company’s stock valued at $192,000 after acquiring an additional 759 shares during the period. State of Wisconsin Investment Board grew its position in shares of Mimecast by 60.8% during the 2nd quarter. State of Wisconsin Investment Board now owns 238,009 shares of the technology company’s stock valued at $6,374,000 after acquiring an additional 90,000 shares during the period. Frontier Capital Management Co. LLC bought a new stake in shares of Mimecast during the 2nd quarter valued at $11,326,000. Finally, Marshall Wace LLP bought a new stake in shares of Mimecast during the 2nd quarter valued at $413,000. 58.66% of the stock is owned by hedge funds and other institutional investors.
Mimecast Company Profile
Mimecast Limited is a provider of cloud security and risk management services for corporate information and e-mail. The Company’s suite of cloud services protects customers from the business and data security risks. It also mitigates the business disruption that e-mail failure or downtime causes. In addition, its archiving services secure, store and manage critical corporate communications and information to address the compliance and e-discovery requirements.
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