Mimecast Limited’s (NASDAQ:MIME) “Outperform” Rating Reaffirmed at Oppenheimer Holdings, Inc.

Oppenheimer Holdings, Inc. reiterated their outperform rating on shares of Mimecast Limited (NASDAQ:MIME) in a report issued on Tuesday, August 8th. Oppenheimer Holdings, Inc. currently has a $32.00 target price on the technology company’s stock, up from their previous target price of $27.00. Oppenheimer Holdings also issued estimates for Mimecast Limited’s Q2 2018 earnings at $0.00 EPS, Q4 2018 earnings at ($0.02) EPS, FY2018 earnings at ($0.07) EPS and FY2019 earnings at ($0.01) EPS.

Several other research firms have also weighed in on MIME. BidaskClub lowered Mimecast Limited from a strong-buy rating to a buy rating in a report on Monday, July 24th. Summit Redstone reaffirmed a buy rating and set a $30.00 price objective on shares of Mimecast Limited in a research note on Thursday, April 13th. Zacks Investment Research raised Mimecast Limited from a sell rating to a hold rating in a research note on Thursday, April 13th. Benchmark Co. started coverage on Mimecast Limited in a research note on Thursday, April 27th. They set a buy rating and a $30.00 price objective on the stock. Finally, Barclays PLC increased their price objective on Mimecast Limited from $30.00 to $31.00 and gave the company an overweight rating in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company. Mimecast Limited has a consensus rating of Buy and a consensus price target of $30.46.

Shares of Mimecast Limited (NASDAQ MIME) opened at 26.99 on Tuesday. The firm’s market cap is $1.53 billion. Mimecast Limited has a 1-year low of $14.50 and a 1-year high of $30.10. The company has a 50-day moving average of $27.59 and a 200-day moving average of $24.33.

Mimecast Limited (NASDAQ:MIME) last posted its earnings results on Monday, August 7th. The technology company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. The company had revenue of $58.16 million for 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%. Mimecast Limited’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.04 earnings per share. Analysts predict that Mimecast Limited will post $0.06 earnings per share for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in MIME. ETF Managers Group LLC bought a new stake in shares of Mimecast Limited during the second quarter valued at approximately $17,278,000. Loomis Sayles & Co. L P bought a new stake in shares of Mimecast Limited during the first quarter valued at approximately $11,353,000. Garelick Capital Partners LP bought a new stake in shares of Mimecast Limited during the first quarter valued at approximately $10,388,000. Frontier Capital Management Co. LLC bought a new stake in shares of Mimecast Limited during the second quarter valued at approximately $11,326,000. Finally, Columbus Circle Investors increased 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 during the last quarter. Institutional investors own 47.67% 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.

Analyst Recommendations for Mimecast Limited (NASDAQ:MIME)

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