Analysts at Cowen began coverage on shares of Mimecast (NASDAQ:MIME) in a report issued on Thursday, The Fly reports. The firm set an “outperform” rating on the technology company’s stock.

Several other research analysts have also recently commented on MIME. BidaskClub raised Mimecast from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. ValuEngine raised Mimecast from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. BMO Capital Markets raised their target price on Mimecast from $43.00 to $52.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 12th. Jefferies Financial Group raised their target price on Mimecast to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, February 12th. Finally, Wedbush raised their target price on Mimecast from $40.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 12th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $53.13.

Shares of MIME stock opened at $46.33 on Thursday. The firm has a market capitalization of $2.85 billion, a P/E ratio of -661.86, a PEG ratio of 26.86 and a beta of 1.10. Mimecast has a one year low of $29.67 and a one year high of $54.57. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.29 and a quick ratio of 1.29.

Mimecast (NASDAQ:MIME) last issued its earnings results on Monday, May 13th. The technology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.02). The firm had revenue of $92.20 million during the quarter, compared to the consensus estimate of $91.34 million. Mimecast had a negative return on equity of 2.85% and a negative net margin of 2.06%. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last year, the business earned ($0.05) earnings per share. As a group, sell-side analysts predict that Mimecast will post 0.09 earnings per share for the current fiscal year.

In other Mimecast news, CEO Peter Bauer sold 18,750 shares of Mimecast stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $48.28, for a total transaction of $905,250.00. Following the completion of the transaction, the chief executive officer now directly owns 56,250 shares of the company’s stock, valued at $2,715,750. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Peter Andrew James Campbell sold 70,000 shares of Mimecast stock in a transaction on Friday, March 1st. The shares were sold at an average price of $48.23, for a total value of $3,376,100.00. Following the transaction, the chief financial officer now directly owns 50,000 shares of the company’s stock, valued at $2,411,500. The disclosure for this sale can be found here. Over the last three months, insiders have sold 364,250 shares of company stock valued at $17,471,270. Company insiders own 29.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MIME. FMR LLC increased its position in Mimecast by 17.1% in the first quarter. FMR LLC now owns 1,320,416 shares of the technology company’s stock worth $62,522,000 after purchasing an additional 193,185 shares during the period. Whale Rock Capital Management LLC increased its position in Mimecast by 22.6% in the first quarter. Whale Rock Capital Management LLC now owns 1,990,748 shares of the technology company’s stock worth $94,262,000 after purchasing an additional 367,062 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in Mimecast in the first quarter worth about $369,000. Morgan Stanley increased its position in Mimecast by 906.4% in the first quarter. Morgan Stanley now owns 685,099 shares of the technology company’s stock worth $32,440,000 after purchasing an additional 617,022 shares during the period. Finally, Man Group plc acquired a new stake in Mimecast in the first quarter worth about $2,177,000. 67.70% of the stock is owned by institutional investors and hedge funds.

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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The Fly

Analyst Recommendations for Mimecast (NASDAQ:MIME)

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