Mimecast (NASDAQ:MIME) had its target price upped by investment analysts at Stephens from $42.00 to $50.00 in a note issued to investors on Tuesday. The firm currently has an “overweight” rating on the technology company’s stock. Stephens’ target price suggests a potential upside of 20.66% from the company’s current price.
Several other equities analysts have also recently issued reports on MIME. BidaskClub cut shares of Mimecast from a “buy” rating to a “hold” rating in a research report on Saturday, January 20th. BMO Capital Markets boosted their price target on shares of Mimecast from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. Needham & Company LLC boosted their price target on shares of Mimecast from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Barclays boosted their price target on shares of Mimecast from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $38.00 price objective on shares of Mimecast in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $41.10.
Shares of NASDAQ MIME traded up $0.40 during midday trading on Tuesday, hitting $41.44. 1,714 shares of the company traded hands, compared to its average volume of 295,688. Mimecast has a 12-month low of $41.11 and a 12-month high of $41.91. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $2.36 billion, a P/E ratio of -216.00 and a beta of 0.23.
Mimecast (NASDAQ:MIME) last announced its quarterly earnings results on Monday, May 14th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). Mimecast had a negative net margin of 5.38% and a negative return on equity of 12.51%. The company had revenue of $73.40 million for the quarter, compared to analysts’ expectations of $71.61 million. The company’s quarterly revenue was up 40.1% compared to the same quarter last year. research analysts anticipate that Mimecast will post -0.05 earnings per share for the current year.
In other news, insider Neil Murray sold 25,000 shares of the stock in a transaction that occurred on Monday, April 23rd. The shares were sold at an average price of $37.72, for a total transaction of $943,000.00. Following the sale, the insider now owns 2,782,865 shares in the company, valued at $104,969,667.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Peter Andrew James Campbell sold 4,000 shares of the stock in a transaction that occurred on Monday, April 23rd. The shares were sold at an average price of $38.21, for a total transaction of $152,840.00. Following the sale, the chief financial officer now owns 252,516 shares in the company, valued at approximately $9,648,636.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,000 shares of company stock worth $2,229,240.
Several large investors have recently bought and sold shares of the company. Millennium Management LLC purchased a new stake in shares of Mimecast during the first quarter valued at approximately $8,082,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Mimecast during the first quarter valued at approximately $359,000. Whale Rock Capital Management LLC bought a new position in Mimecast during the first quarter valued at approximately $29,171,000. Jane Street Group LLC bought a new position in Mimecast during the first quarter valued at approximately $424,000. Finally, Barclays PLC lifted its position in Mimecast by 2,391.7% during the first quarter. Barclays PLC now owns 38,596 shares of the technology company’s stock valued at $1,368,000 after purchasing an additional 37,047 shares during the period. Hedge funds and other institutional investors own 64.80% of the company’s stock.
Mimecast Company Profile
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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