Analysts Set Mimecast Ltd. (MIME) Target Price at $19.70
Mimecast Ltd. (NASDAQ:MIME) has been assigned a consensus recommendation of “Buy” from the eight research firms that are presently covering the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $21.90.
Several research firms have recently issued reports on MIME. Dougherty & Co increased their target price on shares of Mimecast from $16.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 4th. Jefferies Group increased their target price on shares of Mimecast to $29.00 and gave the stock a “buy” rating in a research note on Thursday. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $25.00 price target (up from $20.00) on shares of Mimecast in a research note on Tuesday. Zacks Investment Research raised shares of Mimecast from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. Finally, Barclays PLC raised their price target on shares of Mimecast from $16.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, October 3rd.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in 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 worth $205,000 after buying an additional 959 shares during the period. Wells Fargo & Company MN raised its position in Mimecast by 22.3% in the third quarter. Wells Fargo & Company MN now owns 27,388 shares of the company’s stock worth $525,000 after buying an additional 4,994 shares during the period. 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 worth $851,000 after buying an additional 8,976 shares during the period. First Mercantile Trust Co. acquired a new position in Mimecast during the third quarter worth $184,000. Finally, 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 worth $262,000 after buying an additional 12,000 shares during the period. 31.28% of the stock is currently owned by institutional investors and hedge funds.
Mimecast (NASDAQ:MIME) opened at 21.95 on Tuesday. The stock’s 50 day moving average price is $19.44 and its 200-day moving average price is $13.45. The company’s market cap is $1.20 billion. Mimecast has a 1-year low of $6.01 and a 1-year high of $24.00.
Mimecast (NASDAQ:MIME) last posted its earnings results on Wednesday, November 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.07. The firm had revenue of $44.40 million for the quarter, compared to analysts’ expectations of $41.81 million. 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 earnings per share for the current year.
Mimecast 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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