Mimecast Ltd. (MIME) Rating Reiterated by Jefferies Group
Mimecast Ltd. (NASDAQ:MIME)‘s stock had its “buy” rating restated by research analysts at Jefferies Group in a research report issued to clients and investors on Thursday. They currently have a $29.00 price target on the stock. Jefferies Group’s price objective suggests a potential upside of 35.90% from the stock’s current price.
The analysts wrote, “Mimecast announced it is purchasing substantially all of the assets of iSheriff, to extend threat detection and intelligence capabilities into its email security platform. This is a small (< $10M) tuck-in deal for technology and engineering talent, with no impact to guidance."”
A number of other equities analysts have also issued reports on MIME. Zacks Investment Research raised shares of Mimecast from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Tuesday, November 15th. JPMorgan Chase & Co. initiated coverage on shares of Mimecast in a research report on Friday, October 14th. They set an “overweight” rating on the stock. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $25.00 target price (up previously from $20.00) on shares of Mimecast in a research report on Tuesday, November 8th. Dougherty & Co boosted their target price on shares of Mimecast from $16.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, November 4th. Finally, Barclays PLC boosted their target price on shares of Mimecast from $16.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, October 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Mimecast has a consensus rating of “Buy” and a consensus price target of $21.07.
Shares of Mimecast (NASDAQ:MIME) opened at 21.34 on Thursday. Mimecast has a 12 month low of $6.01 and a 12 month high of $24.00. The company has a 50-day moving average of $20.65 and a 200 day moving average of $14.49. The company’s market capitalization is $1.17 billion.
Mimecast (NASDAQ:MIME) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.07. Mimecast had a negative net margin of 1.64% and a negative return on equity of 3.32%. The business earned $44.40 million during 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. Analysts forecast that Mimecast will post $0.08 EPS for the current year.
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Institutional investors have recently made changes to their positions in the stock. Credit Suisse AG acquired a new position in shares of Mimecast during the third quarter worth about $434,000. Jane Street Group LLC purchased a new stake in shares of Mimecast during the third quarter worth about $355,000. Symmetry Peak Management LLC purchased a new stake in shares of Mimecast during the third quarter worth about $335,000. UBS Oconnor LLC purchased a new stake in shares of Mimecast during the third quarter worth about $691,000. Finally, Two Sigma Advisers LP purchased a new stake in shares of Mimecast during the third quarter worth about $484,000. Institutional investors own 43.58% of the company’s stock.
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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