Mimecast (MIME) Receives New Coverage from Analysts at Wedbush

Analysts at Wedbush began coverage on shares of Mimecast (NASDAQ:MIME) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $40.00 price target on the technology company’s stock. Wedbush’s price target indicates a potential upside of 17.68% from the company’s current price.

A number of other research analysts also recently issued reports on MIME. BMO Capital Markets dropped their target price on shares of 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. boosted their target price on shares of Mimecast from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 10th. Deutsche Bank boosted their target price on shares of Mimecast to $50.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Zacks Investment Research downgraded shares of Mimecast from a “hold” rating to a “sell” rating in a research report on Thursday, August 16th. Finally, BidaskClub upgraded shares of Mimecast from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $44.77.

Mimecast stock opened at $33.99 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.28 and a current ratio of 1.28. Mimecast has a 12-month low of $26.50 and a 12-month high of $46.87. The firm has a market cap of $2.20 billion, a P/E ratio of -178.89 and a beta of 0.83.

Mimecast (NASDAQ:MIME) last released its earnings results on Thursday, November 8th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.03. Mimecast had a negative net margin of 5.44% and a negative return on equity of 10.33%. The company had revenue of $82.17 million for the quarter, compared to the consensus estimate of $80.77 million. The company’s revenue was up 30.2% compared to the same quarter last year. On average, equities research analysts expect that Mimecast will post -0.03 EPS for the current fiscal year.

In other Mimecast news, CFO Peter Andrew James Campbell sold 4,000 shares of the business’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $41.88, for a total transaction of $167,520.00. Following the completion of the sale, the chief financial officer now owns 224,000 shares in the company, valued at approximately $9,381,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher Fitzgerald sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $35.83, for a total transaction of $71,660.00. Following the sale, the director now owns 25,821 shares of the company’s stock, valued at approximately $925,166.43. The disclosure for this sale can be found here. Insiders have sold a total of 162,934 shares of company stock valued at $6,039,989 in the last 90 days. 29.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale increased its stake in Mimecast by 131.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,661 shares of the technology company’s stock valued at $110,000 after purchasing an additional 1,511 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Mimecast by 31.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 7,554 shares of the technology company’s stock valued at $316,000 after purchasing an additional 1,787 shares in the last quarter. Man Group plc increased its stake in Mimecast by 4.8% during the 3rd quarter. Man Group plc now owns 46,402 shares of the technology company’s stock valued at $1,943,000 after purchasing an additional 2,128 shares in the last quarter. Essex Investment Management Co. LLC increased its stake in Mimecast by 2.9% during the 3rd quarter. Essex Investment Management Co. LLC now owns 78,870 shares of the technology company’s stock valued at $3,303,000 after purchasing an additional 2,237 shares in the last quarter. Finally, Summit Global Investments increased its stake in Mimecast by 15.0% during the 3rd quarter. Summit Global Investments now owns 17,600 shares of the technology company’s stock valued at $737,000 after purchasing an additional 2,300 shares in the last quarter. Institutional investors and hedge funds own 70.61% of the company’s stock.

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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Analyst Recommendations for Mimecast (NASDAQ:MIME)

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