Brokerages predict that Mimecast Ltd (NASDAQ:MIME) will announce $101.86 million in sales for the current quarter, Zacks reports. Eight analysts have made estimates for Mimecast’s earnings, with the lowest sales estimate coming in at $101.48 million and the highest estimate coming in at $103.10 million. Mimecast posted sales of $82.17 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 24%. The firm is scheduled to announce its next earnings results on Thursday, November 14th.
On average, analysts expect that Mimecast will report full-year sales of $420.19 million for the current fiscal year, with estimates ranging from $417.97 million to $423.20 million. For the next year, analysts anticipate that the firm will post sales of $508.50 million, with estimates ranging from $501.66 million to $515.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Mimecast.
Mimecast (NASDAQ:MIME) last announced its quarterly earnings results on Monday, August 5th. The technology company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.11. The business had revenue of $99.23 million for the quarter, compared to analysts’ expectations of $97.32 million. Mimecast had a negative return on equity of 2.63% and a negative net margin of 2.09%. The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.04 EPS.
Several equities analysts have recently issued reports on MIME shares. Robert W. Baird set a $58.00 target price on Mimecast and gave the company a “buy” rating in a research note on Sunday, September 15th. ValuEngine cut Mimecast from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. BidaskClub raised Mimecast from a “sell” rating to a “hold” rating in a research note on Thursday, October 3rd. Rosenblatt Securities started coverage on Mimecast in a research note on Wednesday, August 21st. They set a “buy” rating and a $57.00 target price on the stock. Finally, Wedbush reduced their target price on Mimecast from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $55.67.
Shares of MIME traded up $1.63 during mid-day trading on Friday, hitting $39.15. 14,108 shares of the company’s stock traded hands, compared to its average volume of 696,306. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.49. Mimecast has a 1 year low of $29.67 and a 1 year high of $54.57. The firm has a market capitalization of $2.41 billion, a P/E ratio of -558.71, a PEG ratio of 62.08 and a beta of 1.17. The business’s 50-day moving average price is $39.40 and its 200-day moving average price is $45.21.
In other Mimecast news, Director Hagi Schwartz sold 1,690 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $38.40, for a total value of $64,896.00. Following the sale, the director now directly owns 4,205 shares of the company’s stock, valued at $161,472. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter Bauer sold 7,500 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.01, for a total value of $285,075.00. Following the completion of the sale, the chief executive officer now directly owns 200,000 shares in the company, valued at $7,602,000. The disclosure for this sale can be found here. Insiders sold 413,322 shares of company stock worth $17,777,749 over the last three months. Corporate insiders own 11.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC purchased a new stake in Mimecast during the second quarter valued at $32,000. Marshall Wace LLP purchased a new stake in Mimecast in the first quarter worth about $49,000. Advisor Group Inc. increased its position in Mimecast by 39.1% in the second quarter. Advisor Group Inc. now owns 1,349 shares of the technology company’s stock worth $64,000 after buying an additional 379 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Mimecast in the second quarter worth about $79,000. Finally, SG Americas Securities LLC purchased a new stake in Mimecast in the second quarter worth about $102,000. 71.53% of the stock is currently owned by institutional investors and hedge funds.
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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