Shares of Mimecast Limited (NASDAQ:MIME) have been assigned an average recommendation of “Buy” from the twenty analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $54.47.
A number of equities analysts recently issued reports on MIME shares. Colliers Securities lowered their price objective on shares of Mimecast from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, February 4th. Barclays decreased their price target on shares of Mimecast from $62.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, February 4th. BMO Capital Markets decreased their price target on shares of Mimecast from $58.00 to $48.00 and set a “market perform” rating for the company in a research report on Thursday, February 4th. Zacks Investment Research cut shares of Mimecast from a “buy” rating to a “sell” rating in a research report on Wednesday. Finally, Stephens assumed coverage on shares of Mimecast in a research report on Monday, February 1st. They issued an “overweight” rating and a $57.00 price target for the company.
MIME stock traded up $0.50 during trading on Monday, reaching $40.30. 11,729 shares of the company were exchanged, compared to its average volume of 830,000. The company has a 50-day moving average of $42.44 and a two-hundred day moving average of $45.31. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 165.83, a P/E/G ratio of 4.96 and a beta of 1.34. Mimecast has a twelve month low of $32.19 and a twelve month high of $59.48. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.19 and a quick ratio of 1.19.
Mimecast (NASDAQ:MIME) last released its quarterly earnings data on Wednesday, February 3rd. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.09. The business had revenue of $129.60 million during the quarter, compared to analysts’ expectations of $126.67 million. Mimecast had a net margin of 3.44% and a return on equity of 7.27%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 EPS. On average, analysts forecast that Mimecast will post 0.29 EPS for the current year.
In related news, CEO Peter Bauer sold 7,500 shares of the stock in a transaction on Monday, March 8th. The shares were sold at an average price of $42.44, for a total transaction of $318,300.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John J. Walsh, Jr. sold 2,000 shares of the firm’s stock in a transaction on Friday, January 15th. The shares were sold at an average price of $45.50, for a total transaction of $91,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,000 shares of company stock worth $6,854,650. 9.50% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in MIME. BlackRock Inc. lifted its stake in shares of Mimecast by 16.3% in the fourth quarter. BlackRock Inc. now owns 4,591,760 shares of the technology company’s stock valued at $260,995,000 after buying an additional 642,278 shares in the last quarter. Norges Bank purchased a new stake in shares of Mimecast in the fourth quarter valued at about $32,595,000. Nikko Asset Management Americas Inc. raised its holdings in shares of Mimecast by 70.8% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 1,133,379 shares of the technology company’s stock valued at $64,421,000 after purchasing an additional 469,722 shares during the last quarter. ArrowMark Colorado Holdings LLC purchased a new stake in shares of Mimecast in the third quarter valued at about $16,494,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Mimecast by 158.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 449,020 shares of the technology company’s stock valued at $21,069,000 after purchasing an additional 274,981 shares during the last quarter. 83.52% of the stock is currently owned by hedge funds and other institutional investors.
Mimecast Limited provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security solution, which protects against the delivery of malware, malicious URLs and attachments, spam, viruses, impersonation attacks, phishing, and spear-phishing attacks, including business email compromise, identity theft, extortion, fraud, and other attacks, while also preventing data leaks and other internal threats, as well as provides awareness training services.
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