Mimecast Limited (NASDAQ:MIME)‘s stock had its “buy” rating reaffirmed by stock analysts at Royal Bank Of Canada in a research report issued to clients and investors on Wednesday, October 18th. They presently have a $33.00 price objective on the technology company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 5.70% from the stock’s current price.
Other equities research analysts have also issued reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $35.00 price target on shares of Mimecast Limited in a report on Tuesday, September 12th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $32.00 price target (up from $27.00) on shares of Mimecast Limited in a report on Tuesday, August 8th. Barclays PLC boosted their target price on Mimecast Limited from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. BidaskClub lowered Mimecast Limited from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $35.00 target price (up from $32.00) on shares of Mimecast Limited in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $31.08.
Mimecast Limited (NASDAQ MIME) traded up 2.63% during mid-day trading on Wednesday, reaching $31.22. 230,778 shares of the company traded hands. The firm’s market capitalization is $1.77 billion. The stock’s 50 day moving average price is $29.28 and its 200 day moving average price is $27.08. Mimecast Limited has a 52 week low of $16.75 and a 52 week high of $31.94.
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 Thomson Reuters’ consensus estimate of ($0.04) by $0.05. The business had revenue of $58.16 million during the quarter, compared to analyst estimates of $54.96 million. Mimecast Limited had a negative return on equity of 9.67% and a negative net margin of 3.73%. The firm’s revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 EPS. Equities analysts forecast that Mimecast Limited will post $0.06 EPS for the current year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in MIME. Wells Fargo & Company MN increased its position in shares of Mimecast Limited by 51.3% during the first quarter. Wells Fargo & Company MN now owns 19,355 shares of the technology company’s stock valued at $433,000 after purchasing an additional 6,561 shares during the period. US Bancorp DE boosted its stake 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 buying an additional 5,489 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Mimecast Limited by 15.8% in the 1st quarter. JPMorgan Chase & Co. now owns 17,497 shares of the technology company’s stock valued at $392,000 after buying an additional 2,385 shares in the last quarter. Wellington Management Group LLP boosted its stake in Mimecast Limited by 3.1% in the 1st quarter. Wellington Management Group LLP now owns 1,626,028 shares of the technology company’s stock valued at $36,407,000 after buying an additional 48,438 shares in the last quarter. Finally, Citadel Advisors LLC boosted its stake in Mimecast Limited by 398.0% in the 1st quarter. Citadel Advisors LLC now owns 103,205 shares of the technology company’s stock valued at $2,311,000 after buying an additional 82,483 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.
Mimecast Limited Company Profile
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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