Analysts Set Mimecast Ltd. (NASDAQ:MIME) Target Price at $17.08
Mimecast Ltd. (NASDAQ:MIME) has been given an average rating of “Buy” by the seven brokerages that are currently covering the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $17.08.
A number of equities analysts have weighed in on the stock. Barclays PLC upped their price objective on shares of Mimecast from $13.00 to $16.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $15.00 price objective on shares of Mimecast in a research report on Wednesday, August 3rd. Zacks Investment Research raised shares of Mimecast from a “sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Dougherty & Co upped their price objective on shares of Mimecast from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Mimecast in a research report on Thursday, June 23rd.
Mimecast (NASDAQ:MIME) opened at 19.22 on Tuesday. The stock’s market cap is $1.05 billion. The company’s 50 day moving average price is $16.67 and its 200-day moving average price is $11.55. Mimecast has a 12-month low of $6.01 and a 12-month high of $20.10.
Mimecast (NASDAQ:MIME) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The firm earned $41.46 million during the quarter, compared to analysts’ expectations of $39.85 million. The business’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.04) earnings per share. On average, analysts forecast that Mimecast will post $0.02 EPS for the current year.
Several large investors have recently modified their holdings of MIME. Barclays PLC raised its stake in shares of Mimecast by 70.2% in the first quarter. Barclays PLC now owns 29,100 shares of the company’s stock worth $262,000 after buying an additional 12,000 shares during the period. Acadian Asset Management LLC acquired a new stake in Mimecast during the first quarter valued at $349,000. JPMorgan Chase & Co. raised its stake in Mimecast by 14.5% in the first quarter. JPMorgan Chase & Co. now owns 261,724 shares of the company’s stock valued at $2,546,000 after buying an additional 33,155 shares during the period. Bogle Investment Management L P DE acquired a new stake in Mimecast during the first quarter valued at $573,000. Finally, Geode Capital Management LLC raised its stake 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 period. Institutional investors and hedge funds own 30.66% of the company’s stock.
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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