Mimecast Limited (NASDAQ:MIME) Issues Earnings Results

Mimecast Limited (NASDAQ:MIME) released its quarterly earnings data on Monday, August 7th. The technology company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.05, Bloomberg Earnings reports. Mimecast Limited had a negative net margin of 3.73% and a negative return on equity of 9.67%. The firm had revenue of $58.16 million during the quarter, compared to analysts’ expectations of $54.96 million. During the same period in the previous year, the business posted $0.04 earnings per share. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year.

Shares of Mimecast Limited (MIME) traded down 2.28% during trading on Friday, hitting $26.99. The stock had a trading volume of 258,636 shares. The firm has a 50 day moving average price of $27.59 and a 200-day moving average price of $24.33. The stock’s market capitalization is $1.53 billion. Mimecast Limited has a 52 week low of $14.50 and a 52 week high of $30.10.

A number of equities research analysts have recently weighed in on MIME shares. Benchmark Co. assumed coverage on Mimecast Limited in a report on Thursday, April 27th. They set a “buy” rating and a $30.00 target price for the company. Zacks Investment Research downgraded Mimecast Limited from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 13th. BidaskClub downgraded Mimecast Limited from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Needham & Company LLC began coverage on Mimecast Limited in a research note on Tuesday, July 25th. They issued a “buy” rating and a $33.00 price target for the company. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $30.00 target price on shares of Mimecast Limited in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $30.46.

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About Mimecast Limited

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.

Earnings History for Mimecast Limited (NASDAQ:MIME)

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