Mimecast (NASDAQ:MIME) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Mimecast (NASDAQ:MIME) from a hold rating to a sell rating in a report published on Tuesday, BidAskClub reports.

MIME has been the subject of a number of other reports. Robert W. Baird set a $58.00 price target on Mimecast and gave the stock a buy rating in a research report on Sunday, September 15th. Berenberg Bank initiated coverage on Mimecast in a research note on Friday, May 31st. They issued a buy rating and a $59.00 target price on the stock. Cowen initiated coverage on Mimecast in a research note on Thursday, May 23rd. They issued an outperform rating and a $60.00 target price on the stock. ValuEngine lowered Mimecast from a buy rating to a hold rating in a research note on Monday, August 12th. Finally, Wedbush reduced their target price on Mimecast from $50.00 to $46.00 and set a neutral rating on the stock in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. Mimecast presently has a consensus rating of Buy and an average target price of $55.67.

Shares of MIME opened at $37.76 on Tuesday. The business has a fifty day moving average of $42.02 and a 200 day moving average of $46.11. Mimecast has a 52-week low of $29.67 and a 52-week high of $54.57. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.20 and a current ratio of 1.20.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings results on Monday, August 5th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.11. The company had revenue of $99.23 million during the quarter, compared to the consensus estimate of $97.32 million. Mimecast had a negative return on equity of 2.63% and a negative net margin of 2.09%. Mimecast’s revenue was up 26.6% on a year-over-year basis. During the same period last year, the company earned $0.04 earnings per share. As a group, equities research analysts forecast that Mimecast will post 0.05 EPS for the current fiscal year.

In other news, Director Neil Murray sold 35,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $38.32, for a total transaction of $1,341,200.00. Following the transaction, the director now owns 1,766,665 shares in the company, valued at $67,698,602.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John J. Walsh, Jr. sold 5,882 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $42.01, for a total value of $247,102.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 433,882 shares of company stock worth $18,823,408. Insiders own 11.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. River & Mercantile Asset Management LLP purchased a new position in shares of Mimecast during the second quarter valued at $2,172,000. Voloridge Investment Management LLC increased its stake in shares of Mimecast by 43.8% during the second quarter. Voloridge Investment Management LLC now owns 30,211 shares of the technology company’s stock valued at $1,411,000 after buying an additional 9,198 shares during the period. Waddell & Reed Financial Inc. increased its stake in shares of Mimecast by 3.3% during the second quarter. Waddell & Reed Financial Inc. now owns 2,091,838 shares of the technology company’s stock valued at $97,710,000 after buying an additional 66,585 shares during the period. Whale Rock Capital Management LLC increased its stake in shares of Mimecast by 90.8% during the second quarter. Whale Rock Capital Management LLC now owns 3,797,844 shares of the technology company’s stock valued at $177,397,000 after buying an additional 1,807,096 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Mimecast by 92.4% during the second quarter. AQR Capital Management LLC now owns 15,971 shares of the technology company’s stock valued at $746,000 after buying an additional 7,672 shares during the period. Hedge funds and other institutional investors own 71.53% of the company’s stock.

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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