Mimecast (MIME) Downgraded by ValuEngine to “Hold”

ValuEngine downgraded shares of Mimecast (NASDAQ:MIME) from a buy rating to a hold rating in a report released on Wednesday morning.

A number of other research firms have also weighed in on MIME. BidaskClub lowered Mimecast from a buy rating to a hold rating in a research report on Thursday, September 20th. Zacks Investment Research lowered Mimecast from a hold rating to a sell rating in a research report on Tuesday, September 18th. TheStreet raised Mimecast from a d+ rating to a c rating in a research report on Wednesday, November 21st. Robert W. Baird started coverage on Mimecast in a research report on Wednesday, October 17th. They set an outperform rating and a $45.00 price objective on the stock. Finally, Monness Crespi & Hardt cut their price objective on Mimecast from $48.00 to $45.00 and set a buy rating on the stock in a research report on Friday, November 9th. Four research 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. Mimecast currently has an average rating of Buy and a consensus price target of $44.77.

Mimecast stock opened at $33.99 on Wednesday. Mimecast has a twelve month low of $26.50 and a twelve month high of $46.87. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market cap of $2.20 billion, a PE ratio of -178.89 and a beta of 0.83.

Mimecast (NASDAQ:MIME) last posted its quarterly earnings data on Thursday, November 8th. The technology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Mimecast had a negative return on equity of 10.33% and a negative net margin of 5.44%. The business had revenue of $82.17 million for the quarter, compared to analyst estimates of $80.77 million. The business’s quarterly revenue was up 30.2% compared to the same quarter last year. Analysts predict that Mimecast will post -0.03 EPS for the current year.

In related news, COO Edward Vincent Jennings sold 7,500 shares of the stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $34.59, for a total value of $259,425.00. Following the transaction, the chief operating officer now owns 7,500 shares of the company’s stock, valued at $259,425. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Peter Andrew James Campbell sold 4,000 shares of the stock in a transaction on Monday, September 24th. The shares were sold at an average price of $41.88, for a total value of $167,520.00. Following the completion of the transaction, the chief financial officer now directly owns 224,000 shares in the company, valued at approximately $9,381,120. The disclosure for this sale can be found here. Insiders sold 162,934 shares of company stock worth $6,039,989 in the last three months. 29.00% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale boosted its stake in Mimecast by 131.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,661 shares of the technology company’s stock valued at $110,000 after acquiring an additional 1,511 shares in the last quarter. Simplex Trading LLC acquired a new position in Mimecast in the third quarter valued at $183,000. First Republic Investment Management Inc. acquired a new position in Mimecast in the third quarter valued at $203,000. PEAK6 Investments LLC acquired a new position in Mimecast in the third quarter valued at $210,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Mimecast in the second quarter valued at $215,000. 70.61% of the stock is currently 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Mimecast (NASDAQ:MIME)

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