Needham & Company LLC reaffirmed their buy rating on shares of Mimecast Limited (NASDAQ:MIME) in a research note published on Tuesday. Needham & Company LLC currently has a $35.00 price objective on the technology company’s stock.
MIME has been the subject of several other research reports. Zacks Investment Research lowered shares of Mimecast Limited from a hold rating to a sell rating in a report on Tuesday, July 18th. Royal Bank Of Canada reissued a buy rating and issued a $30.00 price target on shares of Mimecast Limited in a report on Monday, July 31st. BidaskClub raised shares of Mimecast Limited from a buy rating to a strong-buy rating in a report on Wednesday, July 12th. Jefferies Group LLC reissued a buy rating and issued a $35.00 price target on shares of Mimecast Limited in a report on Sunday. Finally, J P Morgan Chase & Co reissued an overweight rating and issued a $36.00 price target (up previously from $32.00) on shares of Mimecast Limited in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $30.46.
Shares of Mimecast Limited (NASDAQ MIME) opened at 27.86 on Tuesday. The company’s 50 day moving average price is $27.40 and its 200 day moving average price is $25.01. Mimecast Limited has a one year low of $14.53 and a one year high of $30.10. The stock’s market capitalization is $1.58 billion.
Mimecast Limited (NASDAQ:MIME) last announced its quarterly earnings results on Monday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.05. Mimecast Limited had a negative net margin of 3.73% and a negative return on equity of 9.67%. The company had revenue of $58.16 million during the quarter, compared to analyst estimates of $54.96 million. During the same quarter in the previous year, the business earned $0.04 EPS. The firm’s revenue was up 40.3% on a year-over-year basis. On average, analysts expect that Mimecast Limited will post $0.06 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new stake in Mimecast Limited in the 2nd quarter valued at $104,000. US Bancorp DE lifted its position in Mimecast Limited by 605.2% in the 1st quarter. US Bancorp DE now owns 6,396 shares of the technology company’s stock valued at $143,000 after acquiring an additional 5,489 shares in the last quarter. Crow Point Partners LLC bought a new stake in Mimecast Limited in the 2nd quarter valued at $281,000. Cubist Systematic Strategies LLC bought a new stake in Mimecast Limited in the 2nd quarter valued at $290,000. Finally, Goldman Sachs Group Inc. bought a new stake in Mimecast Limited in the 2nd quarter valued at $327,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.
About Mimecast Limited
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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