Mimecast (MIME) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Mimecast (NASDAQ:MIME) released its earnings results on Thursday. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03, Morningstar.com reports. The business had revenue of $82.17 million for the quarter, compared to the consensus estimate of $80.77 million. Mimecast had a negative return on equity of 11.41% and a negative net margin of 5.55%. The company’s revenue for the quarter was up 30.2% on a year-over-year basis. Mimecast updated its Q3 2019 guidance to EPS and its FY 2019 guidance to EPS.

Mimecast stock opened at $35.77 on Friday. Mimecast has a fifty-two week low of $26.50 and a fifty-two week high of $46.87. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52.

Several equities analysts have recently weighed in on MIME shares. Zacks Investment Research downgraded Mimecast from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. BidaskClub downgraded Mimecast from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. BMO Capital Markets reduced their target price on Mimecast from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Friday, August 10th. JPMorgan Chase & Co. lifted their target price on Mimecast from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 10th. Finally, Deutsche Bank lifted their target price on Mimecast to $50.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $45.23.

In other news, CEO Peter Bauer sold 11,250 shares of the business’s stock in a transaction dated Monday, October 22nd. The stock was sold at an average price of $34.60, for a total value of $389,250.00. Following the completion of the sale, the chief executive officer now directly owns 101,250 shares of the company’s stock, valued at approximately $3,503,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John J. Walsh, Jr. sold 3,882 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $38.50, for a total value of $149,457.00. The disclosure for this sale can be found here. Insiders sold a total of 262,584 shares of company stock valued at $10,211,245 over the last three months. Company insiders own 29.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of MIME. BlackRock Inc. lifted its holdings in shares of Mimecast by 309.7% in the 1st quarter. BlackRock Inc. now owns 22,453 shares of the technology company’s stock valued at $796,000 after purchasing an additional 16,972 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Mimecast in the 1st quarter valued at about $8,082,000. Allianz Asset Management GmbH lifted its holdings in shares of Mimecast by 21.1% in the 1st quarter. Allianz Asset Management GmbH now owns 17,740 shares of the technology company’s stock valued at $629,000 after purchasing an additional 3,085 shares during the last quarter. Macnealy Hoover Investment Management Inc. purchased a new stake in shares of Mimecast in the 2nd quarter valued at about $247,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Mimecast in the 2nd quarter valued at about $1,928,000. 65.89% of the stock is owned by institutional investors and hedge funds.

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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 for Mimecast (NASDAQ:MIME)

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