Needham & Company LLC restated their buy rating on shares of Mimecast (NASDAQ:MIME) in a report issued on Tuesday, AnalystRatings.com reports. The firm currently has a $65.00 price target on the technology company’s stock.

Several other research firms have also recently issued reports on MIME. BMO Capital Markets reaffirmed an outperform rating and set a $58.00 price objective on shares of Mimecast in a research report on Tuesday. They noted that the move was a valuation call. ValuEngine raised Mimecast from a sell rating to a hold rating in a research report on Friday, January 3rd. Robert W. Baird reaffirmed a buy rating and set a $60.00 price objective on shares of Mimecast in a research report on Tuesday. Rosenblatt Securities upped their price objective on Mimecast from $57.00 to $63.00 and gave the stock a buy rating in a research report on Tuesday. Finally, Zacks Investment Research raised Mimecast from a hold rating to a buy rating and set a $56.00 price objective for the company in a research report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $58.43.

NASDAQ MIME traded up $2.65 during trading hours on Tuesday, hitting $49.02. 1,278,833 shares of the company were exchanged, compared to its average volume of 717,776. The company has a 50 day moving average of $48.62 and a two-hundred day moving average of $43.38. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.45. Mimecast has a 52-week low of $34.62 and a 52-week high of $54.57. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of -445.64, a PEG ratio of 42.60 and a beta of 1.14.

Mimecast (NASDAQ:MIME) last released its quarterly earnings data on Monday, February 10th. The technology company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The business had revenue of $110.16 million during the quarter, compared to analysts’ expectations of $108.12 million. Mimecast had a negative return on equity of 0.67% and a negative net margin of 1.64%. The business’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 EPS. On average, equities research analysts predict that Mimecast will post 0.06 EPS for the current year.

In related news, Director Neil Murray sold 35,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $42.96, for a total value of $1,503,600.00. Following the completion of the sale, the director now directly owns 1,696,665 shares of the company’s stock, valued at approximately $72,888,728.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Peter Bauer sold 15,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $44.52, for a total value 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 three months, insiders sold 120,000 shares of company stock valued at $5,424,650. Insiders own 11.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bain Capital Public Equity Management II LLC boosted its position in shares of Mimecast by 9.7% in the 4th quarter. Bain Capital Public Equity Management II LLC now owns 968,047 shares of the technology company’s stock valued at $41,994,000 after purchasing an additional 85,983 shares during the period. First Trust Advisors LP boosted its position in shares of Mimecast by 4.9% in the 4th quarter. First Trust Advisors LP now owns 838,127 shares of the technology company’s stock valued at $36,358,000 after purchasing an additional 39,108 shares during the period. FMR LLC boosted its position in shares of Mimecast by 0.3% in the 4th quarter. FMR LLC now owns 800,882 shares of the technology company’s stock valued at $34,742,000 after purchasing an additional 2,041 shares during the period. Millennium Management LLC boosted its position in shares of Mimecast by 2,270.3% in the 3rd quarter. Millennium Management LLC now owns 576,156 shares of the technology company’s stock valued at $20,551,000 after purchasing an additional 551,849 shares during the period. Finally, Peregrine Capital Management LLC boosted its position in shares of Mimecast by 13.7% in the 3rd quarter. Peregrine Capital Management LLC now owns 427,067 shares of the technology company’s stock valued at $15,233,000 after purchasing an additional 51,431 shares during the period. 71.52% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Mimecast (NASDAQ:MIME)

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