Mimecast Ltd. (MIME) PT Raised to $29.00
Mimecast Ltd. (NASDAQ:MIME) had its price objective raised by investment analysts at Jefferies Group to $29.00 in a report released on Thursday. The brokerage presently has a “buy” rating on the stock. Jefferies Group’s price target points to a potential upside of 29.64% from the company’s current price.
A number of other analysts have also weighed in on MIME. Zacks Investment Research upgraded shares of Mimecast from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $15.00 target price on shares of Mimecast in a research note on Wednesday, August 3rd. Dougherty & Co upped their target price on shares of Mimecast from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Barclays PLC upped their target price on shares of Mimecast from $13.00 to $16.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. Finally, JPMorgan Chase & Co. started coverage on shares of Mimecast in a research note on Friday, October 14th. They set an “overweight” rating on the stock. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Mimecast presently has an average rating of “Buy” and a consensus price target of $20.07.
Mimecast (NASDAQ:MIME) opened at 22.37 on Thursday. Mimecast has a 52-week low of $6.01 and a 52-week high of $24.00. The firm’s 50-day moving average is $19.62 and its 200-day moving average is $13.55. The stock’s market capitalization is $1.23 billion.
Mimecast (NASDAQ:MIME) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.07. The company had revenue of $44.40 million for the quarter, compared to analyst estimates of $41.81 million. Mimecast had a negative net margin of 1.64% and a negative return on equity of 3.32%. During the same period in the prior year, the firm earned $0.04 earnings per share. Analysts predict that Mimecast will post $0.02 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in the stock. KCG Holdings Inc. acquired a new position in shares of Mimecast during the second quarter worth about $162,000. First Mercantile Trust Co. acquired a new position in shares of Mimecast during the third quarter worth about $184,000. Geode Capital Management LLC increased its position in shares of 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. Barclays PLC increased its position 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. Finally, Morgan Stanley increased its position in shares of Mimecast by 936.4% in the third quarter. Morgan Stanley now owns 22,634 shares of the company’s stock worth $433,000 after buying an additional 20,450 shares during the period. 32.28% of the stock is owned by hedge funds and other institutional investors.
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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