Equities research analysts at JPMorgan Chase & Co. assumed coverage on shares of Mimecast Ltd. (NASDAQ:MIME) in a report issued on Friday. The brokerage set an “overweight” rating on the stock.
MIME has been the subject of several other research reports. Zacks Investment Research raised Mimecast from a “sell” rating to a “hold” rating in a report on Wednesday, July 6th. Barclays PLC upped their target price on Mimecast from $13.00 to $16.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Mimecast in a research note on Wednesday, August 3rd. Dougherty & Co upped their target price on Mimecast from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Mimecast in a research note on Thursday, June 23rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Mimecast has a consensus rating of “Buy” and a consensus target price of $16.79.
Shares of Mimecast (NASDAQ:MIME) opened at 18.82 on Friday. The company’s market cap is $1.03 billion. The stock has a 50 day moving average of $17.38 and a 200 day moving average of $12.00. Mimecast has a 1-year low of $6.01 and a 1-year high of $20.10.
Mimecast (NASDAQ:MIME) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. The business had revenue of $41.46 million for the quarter, compared to analysts’ expectations of $39.85 million. During the same period in the previous year, the firm posted ($0.04) EPS. The firm’s revenue for the quarter was up 24.4% compared to the same quarter last year. Analysts predict that Mimecast will post $0.02 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC raised its stake in Mimecast by 98.0% in the second quarter. Penserra Capital Management LLC now owns 806,799 shares of the company’s stock worth $8,076,000 after buying an additional 399,335 shares during the period. Abdiel Capital Advisors LP raised its stake in Mimecast by 5.8% in the second quarter. Abdiel Capital Advisors LP now owns 2,930,579 shares of the company’s stock worth $29,335,000 after buying an additional 160,117 shares during the period. Spark Investment Management LLC bought a new stake in Mimecast during the second quarter worth $891,000. Acadian Asset Management LLC raised its stake in Mimecast by 228.0% in the second quarter. Acadian Asset Management LLC now owns 117,820 shares of the company’s stock worth $1,178,000 after buying an additional 81,902 shares during the period. Finally, Wall Street Associates raised its stake in Mimecast by 79.1% in the second quarter. Wall Street Associates now owns 179,100 shares of the company’s stock worth $1,793,000 after buying an additional 79,100 shares during the period. 30.67% of the stock is owned by hedge funds and other institutional investors.
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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