Mimecast Limited’s (MIME) Outperform Rating Reiterated at Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their outperform rating on shares of Mimecast Limited (NASDAQ:MIME) in a research note released on Thursday, MarketBeat Ratings reports. They currently have a $37.00 price target on the technology company’s stock, up from their previous price target of $33.00.
A number of other brokerages have also recently commented on MIME. BidaskClub cut Mimecast Limited from a strong-buy rating to a buy rating in a research report on Monday, July 24th. Zacks Investment Research cut Mimecast Limited from a hold rating to a sell rating in a research report on Tuesday, October 10th. Needham & Company LLC reaffirmed a buy rating and set a $35.00 price target on shares of Mimecast Limited in a research report on Tuesday, September 12th. Barclays PLC lifted their price target on Mimecast Limited from $30.00 to $31.00 and gave the stock an overweight rating in a research report on Tuesday, August 8th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $35.00 price target (up previously from $32.00) on shares of Mimecast Limited in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $32.83.
Shares of Mimecast Limited (MIME) traded up $0.21 on Thursday, reaching $30.96. The company’s stock had a trading volume of 276,500 shares, compared to its average volume of 299,599. Mimecast Limited has a 12 month low of $16.75 and a 12 month high of $32.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.32.
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Several hedge funds have recently modified their holdings of the company. Brown Advisory Inc. lifted its holdings in shares of Mimecast Limited by 23.1% in the 3rd quarter. Brown Advisory Inc. now owns 1,671,109 shares of the technology company’s stock valued at $47,492,000 after buying an additional 313,455 shares during the period. Columbus Circle Investors lifted its holdings in shares of Mimecast Limited by 35.1% in the 3rd quarter. Columbus Circle Investors now owns 984,785 shares of the technology company’s stock valued at $27,988,000 after buying an additional 256,023 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Mimecast Limited by 83.0% in the 2nd quarter. Renaissance Technologies LLC now owns 684,600 shares of the technology company’s stock valued at $18,334,000 after buying an additional 310,500 shares during the period. ETF Managers Group LLC acquired a new position in shares of Mimecast Limited in the 2nd quarter valued at about $17,278,000. Finally, Peregrine Capital Management LLC lifted its holdings in shares of Mimecast Limited by 3.5% in the 3rd quarter. Peregrine Capital Management LLC now owns 573,886 shares of the technology company’s stock valued at $16,310,000 after buying an additional 19,409 shares during the period. 53.40% of the stock is owned by institutional investors and hedge funds.
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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