MIME has been the subject of several other reports. ValuEngine lowered Mimecast from a strong-buy rating to a buy rating in a report on Tuesday, May 14th. Imperial Capital reissued an outperform rating and issued a $55.00 price objective (up from $52.00) on shares of Mimecast in a report on Tuesday, May 14th. Bank of America assumed coverage on Mimecast in a report on Friday, April 12th. They issued a buy rating and a $60.00 price objective for the company. BMO Capital Markets boosted their price objective on Mimecast from $52.00 to $55.00 and gave the company an outperform rating in a report on Tuesday, May 14th. Finally, Cowen assumed coverage on Mimecast in a report on Thursday, May 23rd. They issued an outperform rating and a $60.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Mimecast has a consensus rating of Buy and an average price target of $54.31.
Shares of Mimecast stock opened at $46.63 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $2.86 billion, a P/E ratio of -666.14, a PEG ratio of 56.52 and a beta of 1.23. Mimecast has a fifty-two week low of $29.67 and a fifty-two week high of $54.57.
Mimecast (NASDAQ:MIME) last announced its quarterly earnings data on Monday, May 13th. The technology company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). The firm had revenue of $92.20 million during the quarter, compared to the consensus estimate of $91.34 million. Mimecast had a negative net margin of 2.06% and a negative return on equity of 2.72%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) earnings per share. Equities research analysts anticipate that Mimecast will post 0.04 earnings per share for the current fiscal year.
In other Mimecast news, COO Edward Vincent Jennings sold 11,000 shares of Mimecast stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $44.12, for a total value of $485,320.00. Following the completion of the transaction, the chief operating officer now directly owns 12,251 shares in the company, valued at $540,514.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Neil Murray sold 25,000 shares of Mimecast stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $47.94, for a total value of $1,198,500.00. Following the completion of the transaction, the director now owns 2,284,147 shares of the company’s stock, valued at $109,502,007.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 469,996 shares of company stock valued at $21,833,436. 29.00% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. First Mercantile Trust Co. boosted its position in shares of Mimecast by 223.4% during the first quarter. First Mercantile Trust Co. now owns 1,035 shares of the technology company’s stock worth $49,000 after buying an additional 715 shares during the period. Marshall Wace LLP acquired a new position in shares of Mimecast during the first quarter worth approximately $49,000. NumerixS Investment Technologies Inc boosted its position in shares of Mimecast by 19.5% during the first quarter. NumerixS Investment Technologies Inc now owns 2,390 shares of the technology company’s stock worth $114,000 after buying an additional 390 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Mimecast during the first quarter worth approximately $188,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in shares of Mimecast during the fourth quarter worth approximately $192,000. Institutional investors own 71.70% of the company’s stock.
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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