Mimecast Limited (MIME) Expected to Post Quarterly Sales of $60.05 Million
Brokerages expect Mimecast Limited (NASDAQ:MIME) to post sales of $60.05 million for the current quarter, according to Zacks. Four analysts have issued estimates for Mimecast Limited’s earnings. The lowest sales estimate is $60.00 million and the highest is $60.11 million. Mimecast Limited posted sales of $44.36 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 35.4%. The company is scheduled to issue its next earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that Mimecast Limited will report full-year sales of $60.05 million for the current financial year, with estimates ranging from $249.00 million to $250.17 million. For the next fiscal year, analysts expect that the firm will post sales of $295.36 million per share, with estimates ranging from $273.72 million to $309.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Mimecast Limited.
Mimecast Limited (NASDAQ:MIME) last announced its earnings results on Monday, August 7th. The technology company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. The business had revenue of $58.16 million during the quarter, compared to the consensus estimate of $54.96 million. Mimecast Limited had a negative net margin of 3.73% and a negative return on equity of 9.67%. Mimecast Limited’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 EPS.
MIME has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Mimecast Limited from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Needham & Company LLC restated a “buy” rating and set a $35.00 price objective on shares of Mimecast Limited in a report on Tuesday, September 12th. Barclays PLC raised their price objective on shares of Mimecast Limited from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. Jefferies Group LLC reiterated a “buy” rating and issued a $35.00 target price (up previously from $32.00) on shares of Mimecast Limited in a research note on Wednesday, August 9th. Finally, Zacks Investment Research downgraded shares of Mimecast Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $31.08.
Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in shares of Mimecast Limited in the second quarter worth about $104,000. US Bancorp DE boosted its position in shares of Mimecast Limited by 605.2% in the first quarter. US Bancorp DE now owns 6,396 shares of the technology company’s stock valued at $143,000 after acquiring an additional 5,489 shares during the period. Crow Point Partners LLC bought a new position in shares of Mimecast Limited in the second quarter valued at approximately $281,000. Cubist Systematic Strategies LLC bought a new position in shares of Mimecast Limited in the second quarter valued at approximately $290,000. Finally, Bank of America Corp DE boosted its position in shares of Mimecast Limited by 45.2% in the first quarter. Bank of America Corp DE now owns 13,111 shares of the technology company’s stock valued at $294,000 after acquiring an additional 4,083 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.
Shares of Mimecast Limited (NASDAQ MIME) traded up 0.03% during mid-day trading on Friday, hitting $29.83. 549,555 shares of the company traded hands. The stock’s market capitalization is $1.69 billion. Mimecast Limited has a one year low of $16.75 and a one year high of $30.10. The firm has a 50-day moving average of $27.66 and a 200-day moving average of $26.09.
About Mimecast Limited
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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