Wall Street analysts expect Mimecast Ltd (NASDAQ:MIME) to report $91.63 million in sales for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Mimecast’s earnings. The highest sales estimate is $92.90 million and the lowest is $91.00 million. Mimecast reported sales of $73.40 million in the same quarter last year, which suggests a positive year over year growth rate of 24.8%. The firm is scheduled to report its next earnings report on Monday, May 13th.

According to Zacks, analysts expect that Mimecast will report full-year sales of $339.79 million for the current fiscal year, with estimates ranging from $339.00 million to $341.00 million. For the next financial year, analysts anticipate that the business will report sales of $420.49 million, with estimates ranging from $419.25 million to $423.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Mimecast.

Mimecast (NASDAQ:MIME) last posted its earnings results on Monday, February 11th. The technology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). The company had revenue of $87.61 million for the quarter, compared to analysts’ expectations of $84.80 million. Mimecast had a negative return on equity of 6.51% and a negative net margin of 4.14%.

A number of research firms have weighed in on MIME. Zacks Investment Research upgraded Mimecast from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Friday, February 15th. Deutsche Bank upped their target price on Mimecast to $52.00 and gave the stock a “buy” rating in a report on Tuesday, February 12th. Oppenheimer upped their target price on Mimecast from $45.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, February 12th. Royal Bank of Canada upped their target price on Mimecast to $52.00 and gave the stock an “outperform” rating in a report on Tuesday, February 12th. Finally, ValuEngine upgraded Mimecast from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 13th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Mimecast has a consensus rating of “Buy” and a consensus price target of $50.93.

In other Mimecast news, insider John J. Walsh, Jr. sold 7,500 shares of the company’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $49.31, for a total transaction of $369,825.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Edward Vincent Jennings sold 11,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $45.76, for a total transaction of $503,360.00. Following the transaction, the chief operating officer now owns 11,000 shares in the company, valued at $503,360. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 500,781 shares of company stock worth $21,760,727. Corporate insiders own 29.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Mimecast in the 4th quarter valued at about $8,826,000. Massmutual Trust Co. FSB ADV increased its stake in Mimecast by 3,780.8% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 11,914 shares of the technology company’s stock worth $401,000 after purchasing an additional 11,607 shares in the last quarter. Macquarie Group Ltd. increased its stake in Mimecast by 28.7% during the 4th quarter. Macquarie Group Ltd. now owns 194,345 shares of the technology company’s stock worth $6,536,000 after purchasing an additional 43,360 shares in the last quarter. Whale Rock Capital Management LLC increased its stake in Mimecast by 77.4% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,623,686 shares of the technology company’s stock worth $54,605,000 after purchasing an additional 708,198 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in Mimecast during the 4th quarter worth approximately $192,000. 67.19% of the stock is owned by institutional investors.

Mimecast stock opened at $45.94 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.20. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -241.79 and a beta of 1.00. Mimecast has a twelve month low of $29.67 and a twelve month high of $51.66.

About Mimecast

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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Earnings History and Estimates for Mimecast (NASDAQ:MIME)

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