Mimecast Ltd. (MIME) Given New $22.00 Price Target at Barclays PLC
Mimecast Ltd. (NASDAQ:MIME) had its price objective raised by Barclays PLC from $16.00 to $22.00 in a research note issued to investors on Monday. The firm currently has an overweight rating on the stock.
Several other brokerages also recently commented on MIME. Zacks Investment Research upgraded Mimecast from a sell rating to a hold rating in a research note on Tuesday, July 19th. Royal Bank Of Canada reaffirmed a buy rating on shares of Mimecast in a report on Thursday, June 23rd. Oppenheimer Holdings Inc. reaffirmed an outperform rating and issued a $20.00 price target (up previously from $15.00) on shares of Mimecast in a report on Thursday, September 1st. Finally, Dougherty & Co raised their price target on Mimecast from $12.00 to $16.00 and gave the company a buy rating in a report on Tuesday, August 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Mimecast currently has an average rating of Buy and an average target price of $16.79.
Shares of Mimecast (NASDAQ:MIME) opened at 19.27 on Monday. The company’s market capitalization is $1.05 billion. Mimecast has a one year low of $6.01 and a one year high of $20.10. The company has a 50-day moving average price of $16.27 and a 200 day moving average price of $11.37.
Mimecast (NASDAQ:MIME) last issued its earnings results on Monday, August 8th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. The company earned $41.46 million during the quarter, compared to the consensus estimate of $39.85 million. During the same quarter in the prior year, the business earned ($0.04) EPS. The firm’s revenue for the quarter was up 24.4% compared to the same quarter last year. Equities analysts anticipate that Mimecast will post $0.02 EPS for the current year.
Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Mimecast by 4.7% in the first quarter. Geode Capital Management LLC now owns 21,159 shares of the company’s stock valued at $205,000 after buying an additional 959 shares during the last quarter. GSA Capital Partners LLP raised its position in Mimecast by 11.8% in the second quarter. GSA Capital Partners LLP now owns 85,008 shares of the company’s stock valued at $851,000 after buying an additional 8,976 shares during the last quarter. Barclays PLC raised its position in Mimecast by 70.2% in the first quarter. Barclays PLC now owns 29,100 shares of the company’s stock valued at $262,000 after buying an additional 12,000 shares during the last quarter. KCG Holdings Inc. bought a new position in Mimecast during the second quarter valued at about $162,000. Finally, Weiss Multi Strategy Advisers LLC raised its position in Mimecast by 18.6% in the second quarter. Weiss Multi Strategy Advisers LLC now owns 120,000 shares of the company’s stock valued at $1,201,000 after buying an additional 18,800 shares during the last quarter. Institutional investors and hedge funds own 30.66% of the company’s stock.
Mimecast Company Profile
Mimecast Limited is a United Kingdom-based business e-mail and data safety solutions provider. The Company offers solutions for e-mail security; archiving, risk and compliance; business continuity; migration, and employee productivity and mobility. Its products consist of Mimecast Secure Email Gateway, which is offered for spam and virus protection, content control and data leak prevention, targeted threat protection, file send, secure messaging, and advanced e-mail signature and disclaimer management; Mimecast Mailbox Continuity, which is offered for continuity services, and Mimecast Enterprise Information Archiving, which is offered for file archiving, legacy archive data management and Lync Instant messaging Archiving.
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