Mimecast Ltd (NASDAQ:MIME) – Analysts at Jefferies Financial Group lowered their Q4 2020 earnings per share estimates for Mimecast in a research report issued to clients and investors on Monday, February 10th. Jefferies Financial Group analyst B. Thill now expects that the technology company will earn $0.05 per share for the quarter, down from their prior estimate of $0.07. Jefferies Financial Group currently has a “Buy” rating and a $60.00 target price on the stock. Jefferies Financial Group also issued estimates for Mimecast’s Q1 2021 earnings at $0.05 EPS, Q2 2021 earnings at $0.08 EPS, Q3 2021 earnings at $0.09 EPS, Q4 2021 earnings at $0.11 EPS, FY2021 earnings at $0.33 EPS and FY2022 earnings at $0.51 EPS.
Mimecast (NASDAQ:MIME) last released its earnings results on Monday, February 10th. The technology company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.02. The company had revenue of $110.16 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 25.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS.
MIME has been the subject of a number of other research reports. Needham & Company LLC restated a “buy” rating and issued a $65.00 target price on shares of Mimecast in a research note on Tuesday. Dougherty & Co cut Mimecast from a “buy” rating to a “neutral” rating in a research note on Friday, November 8th. ValuEngine upgraded Mimecast from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. BidaskClub upgraded Mimecast from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Rosenblatt Securities raised their target price on Mimecast from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $58.43.
Shares of MIME traded down $0.84 on Thursday, reaching $45.62. The stock had a trading volume of 11,148 shares, compared to its average volume of 679,031. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of -414.73, a price-to-earnings-growth ratio of 42.60 and a beta of 1.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.18 and a current ratio of 1.18. The company has a 50-day simple moving average of $48.57 and a 200-day simple moving average of $43.40. Mimecast has a 12-month low of $34.62 and a 12-month high of $54.57.
Large investors have recently made changes to their positions in the business. Millennium Management LLC raised 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 worth $20,551,000 after purchasing an additional 551,849 shares during the last quarter. BlackRock Inc. raised its stake in shares of Mimecast by 235.1% in the second quarter. BlackRock Inc. now owns 333,184 shares of the technology company’s stock worth $15,563,000 after purchasing an additional 233,741 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Mimecast in the fourth quarter worth $9,467,000. Pictet Asset Management Ltd. purchased a new position in shares of Mimecast in the fourth quarter worth $9,350,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Mimecast by 218.7% in the fourth quarter. Russell Investments Group Ltd. now owns 299,887 shares of the technology company’s stock worth $12,937,000 after purchasing an additional 205,794 shares during the last quarter. Institutional investors and hedge funds own 71.52% of the company’s stock.
In other Mimecast news, CEO Peter Bauer sold 15,000 shares of Mimecast stock in a transaction on Monday, January 6th. The stock was sold at an average price of $44.52, for a total transaction of $667,800.00. Following the completion of the transaction, the chief executive officer now owns 140,000 shares in the company, valued at $6,232,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Neil Murray sold 35,000 shares of Mimecast stock in a transaction on Tuesday, January 21st. The shares were 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 approximately $81,105,516.90. The disclosure for this sale can be found here. Insiders have sold 120,000 shares of company stock valued at $5,424,650 in the last quarter. 11.60% of the stock is owned by company insiders.
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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