Mimecast Limited (NASDAQ:MIME) has been assigned a consensus rating of “Buy” from the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $31.08.
Several analysts have issued reports on MIME shares. Royal Bank Of Canada reissued an “outperform” rating and set a $33.00 price target (up previously from $30.00) on shares of Mimecast Limited in a report on Tuesday. BidaskClub raised Mimecast Limited from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. J P Morgan Chase & Co reissued an “overweight” rating and set a $36.00 price target (up previously from $32.00) on shares of Mimecast Limited in a report on Wednesday. Benchmark Co. boosted their price objective on Mimecast Limited from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $35.00 price objective (up from $33.00) on shares of Mimecast Limited in a research report on Tuesday.
Shares of Mimecast Limited (NASDAQ MIME) opened at 27.67 on Monday. The firm’s market capitalization is $1.57 billion. The company has a 50 day moving average of $27.32 and a 200-day moving average of $24.06. Mimecast Limited has a 12 month low of $14.06 and a 12 month high of $30.10.
Mimecast Limited (NASDAQ:MIME) last issued its quarterly earnings data on Monday, August 7th. The technology company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. Mimecast Limited had a negative return on equity of 9.67% and a negative net margin of 3.73%. The company had revenue of $58.16 million during the quarter, compared to analyst estimates of $54.96 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. Mimecast Limited’s revenue was up 40.3% compared to the same quarter last year. Analysts predict that Mimecast Limited will post $0.06 EPS for the current year.
Hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN raised its stake in Mimecast Limited by 27.1% in the second quarter. Wells Fargo & Company MN now owns 24,600 shares of the technology company’s stock worth $659,000 after buying an additional 5,245 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Mimecast Limited by 96.0% in the second quarter. JPMorgan Chase & Co. now owns 34,302 shares of the technology company’s stock valued at $919,000 after buying an additional 16,805 shares in the last quarter. Airain ltd raised its stake in shares of Mimecast Limited by 1.8% in the second quarter. Airain ltd now owns 16,906 shares of the technology company’s stock valued at $453,000 after buying an additional 294 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of Mimecast Limited during the second quarter valued at approximately $2,719,000. Finally, Columbus Circle Investors raised its stake in shares of Mimecast Limited by 88.6% in the second quarter. Columbus Circle Investors now owns 728,762 shares of the technology company’s stock valued at $19,516,000 after buying an additional 342,405 shares in the last quarter. Institutional investors own 47.95% of the company’s stock.
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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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