Mimecast (NASDAQ:MIME) Upgraded to “Strong-Buy” by BidaskClub
A number of other research firms have also recently weighed in on MIME. ValuEngine upgraded shares of Mimecast from a sell rating to a hold rating in a research report on Friday, January 3rd. Needham & Company LLC reiterated a buy rating and set a $65.00 price objective on shares of Mimecast in a research report on Friday, November 8th. Monness Crespi & Hardt boosted their price objective on shares of Mimecast from $55.00 to $58.00 and gave the company a buy rating in a research report on Monday, January 13th. Dougherty & Co cut shares of Mimecast from a buy rating to a neutral rating in a report on Friday, November 8th. Finally, Robert W. Baird restated a buy rating and issued a $60.00 price target on shares of Mimecast in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $58.43.
MIME stock traded up $2.39 during mid-day trading on Tuesday, reaching $48.76. 1,049,434 shares of the stock traded hands, compared to its average volume of 717,776. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.18 and a current ratio of 1.18. Mimecast has a one year low of $34.62 and a one year high of $54.57. The stock has a market capitalization of $2.88 billion, a PE ratio of -443.27, a PEG ratio of 42.60 and a beta of 1.14. The business has a 50-day moving average price of $48.62 and a two-hundred day moving average price of $43.38.
In related news, Director Neil Murray sold 35,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $49.86, for a total value of $1,745,100.00. Following the completion of the sale, the director now directly owns 1,626,665 shares of the company’s stock, valued at $81,105,516.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Bauer sold 15,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $44.52, for a total transaction of $667,800.00. Following the completion of the sale, the chief executive officer now directly owns 140,000 shares of the company’s stock, valued at $6,232,800. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 120,000 shares of company stock worth $5,424,650. Company insiders own 11.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in MIME. Millennium Management LLC lifted its stake in Mimecast by 2,270.3% in the third quarter. Millennium Management LLC now owns 576,156 shares of the technology company’s stock worth $20,551,000 after acquiring an additional 551,849 shares during the period. BlackRock Inc. lifted its stake in Mimecast by 235.1% in the second quarter. BlackRock Inc. now owns 333,184 shares of the technology company’s stock worth $15,563,000 after acquiring an additional 233,741 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in Mimecast in the fourth quarter worth about $9,467,000. Pictet Asset Management Ltd. purchased a new stake in Mimecast in the fourth quarter worth about $9,350,000. Finally, Russell Investments Group Ltd. lifted its stake in Mimecast by 218.7% in the fourth quarter. Russell Investments Group Ltd. now owns 299,887 shares of the technology company’s stock worth $12,937,000 after acquiring an additional 205,794 shares during the period. 71.52% of the stock is owned by institutional investors.
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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