Mimecast Ltd. (NASDAQ:MIME) has received an average rating of “Buy” from the seven ratings firms that are presently covering the company. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $17.08.
Several equities analysts recently issued reports on MIME shares. Zacks Investment Research upgraded Mimecast from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Friday, August 12th. Dougherty & Co lifted their price objective on Mimecast from $12.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Mimecast in a report on Thursday, June 23rd. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $15.00 price objective on shares of Mimecast in a report on Wednesday, August 3rd. Finally, Barclays PLC lifted their price objective on Mimecast from $16.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, October 3rd.
Mimecast (NASDAQ:MIME) opened at 19.29 on Tuesday. The company’s 50-day moving average price is $16.80 and its 200-day moving average price is $11.61. Mimecast has a one year low of $6.01 and a one year high of $20.10. The firm’s market cap is $1.05 billion.
Mimecast (NASDAQ:MIME) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.08. The firm had revenue of $41.46 million for the quarter, compared to the consensus estimate of $39.85 million. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. The company’s revenue was up 24.4% on a year-over-year basis. On average, analysts anticipate that Mimecast will post $0.02 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC increased its position in shares of Mimecast by 70.2% in the first quarter. Barclays PLC now owns 29,100 shares of the company’s stock valued at $262,000 after buying an additional 12,000 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Mimecast during the first quarter valued at approximately $349,000. JPMorgan Chase & Co. increased its position in shares of Mimecast by 14.5% in the first quarter. JPMorgan Chase & Co. now owns 261,724 shares of the company’s stock valued at $2,546,000 after buying an additional 33,155 shares during the last quarter. Bogle Investment Management L P DE acquired a new position in shares of Mimecast during the first quarter valued at approximately $573,000. Finally, Geode Capital Management LLC increased its position in shares of Mimecast by 4.7% in the first quarter. Geode Capital Management LLC now owns 21,159 shares of the company’s stock valued at $205,000 after buying an additional 959 shares during the last quarter. 30.66% of the stock is currently owned by institutional investors and hedge funds.
Mimecast Limited is a United Kingdom-based business e-mail and data safety solutions provider. The Company offers solutions for e-mail security; archiving, risk and compliance; business continuity; migration, and employee productivity and mobility. Its products consist of Mimecast Secure Email Gateway, which is offered for spam and virus protection, content control and data leak prevention, targeted threat protection, file send, secure messaging, and advanced e-mail signature and disclaimer management; Mimecast Mailbox Continuity, which is offered for continuity services, and Mimecast Enterprise Information Archiving, which is offered for file archiving, legacy archive data management and Lync Instant messaging Archiving.
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