Mimecast Ltd (NASDAQ:MIME) has earned an average recommendation of “Buy” from the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $43.60.

Several equities analysts recently commented on the stock. BidaskClub lowered shares of Mimecast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Needham & Company LLC upped their price target on shares of Mimecast from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, May 15th. Goldman Sachs Group raised shares of Mimecast from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 20th. Barclays upped their price target on shares of Mimecast from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 15th. Finally, BMO Capital Markets upped their price target on shares of Mimecast from $38.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 15th.

In other news, COO Edward Vincent Jennings sold 7,500 shares of the stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $43.38, for a total value of $325,350.00. Following the completion of the sale, the chief operating officer now owns 7,500 shares of the company’s stock, valued at $325,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Neil Murray sold 213,465 shares of the stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $41.45, for a total transaction of $8,848,124.25. Following the completion of the sale, the insider now directly owns 2,734,615 shares of the company’s stock, valued at approximately $113,349,791.75. The disclosure for this sale can be found here. Insiders sold 614,641 shares of company stock valued at $25,301,881 in the last three months. Company insiders own 29.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MIME. Insight Holdings Group LLC acquired a new stake in shares of Mimecast in the second quarter worth $391,814,000. Whale Rock Capital Management LLC acquired a new stake in shares of Mimecast in the first quarter worth $29,171,000. Lord Abbett & CO. LLC increased its position in shares of Mimecast by 43.2% in the first quarter. Lord Abbett & CO. LLC now owns 958,145 shares of the technology company’s stock worth $33,947,000 after acquiring an additional 289,005 shares in the last quarter. Millennium Management LLC increased its position in shares of Mimecast by 111.6% in the second quarter. Millennium Management LLC now owns 482,758 shares of the technology company’s stock worth $19,894,000 after acquiring an additional 254,642 shares in the last quarter. Finally, Oak Ridge Investments LLC acquired a new stake in shares of Mimecast in the first quarter worth $8,035,000. 68.06% of the stock is owned by institutional investors.

NASDAQ:MIME opened at $41.31 on Tuesday. Mimecast has a 1-year low of $25.12 and a 1-year high of $46.87. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $2.48 billion, a PE ratio of -217.42 and a beta of 0.08.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings results on Thursday, August 9th. The technology company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Mimecast had a negative net margin of 5.55% and a negative return on equity of 11.41%. The firm had revenue of $78.40 million during the quarter, compared to analyst estimates of $76.71 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. Mimecast’s revenue for the quarter was up 34.7% compared to the same quarter last year. research analysts anticipate that Mimecast will post -0.13 earnings per share for the current fiscal year.

Mimecast Company Profile

Mimecast Limited, a email and data security company, provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security services, including targeted threat protection services, such as URL Protect that addresses the threat from emails containing malicious links; Attachment Protect that reduces threat from weaponized or malware-laden attachments used in spear-phishing and other attacks; Impersonation Protect that gives protection from malware-less social engineering attacks; and Internal Email Protect, which allows customers to monitor, detect, and remediate security threats that originate from within their internal email systems.

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Analyst Recommendations for Mimecast (NASDAQ:MIME)

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