Mimecast Limited (NASDAQ:MIME) – Analysts at Oppenheimer Holdings upped their Q2 2018 earnings per share (EPS) estimates for Mimecast Limited in a research report issued on Tuesday. Oppenheimer Holdings analyst S. Eyal now anticipates that the technology company will post earnings per share of $0.00 for the quarter, up from their prior estimate of ($0.03). Oppenheimer Holdings currently has a “Outperform” rating and a $32.00 target price on the stock. Oppenheimer Holdings also issued estimates for Mimecast Limited’s Q4 2018 earnings at ($0.02) EPS, FY2018 earnings at ($0.07) EPS and FY2019 earnings at ($0.01) EPS.
Mimecast Limited (NASDAQ:MIME) last announced its quarterly earnings results on Monday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. The company had revenue of $58.16 million for the quarter, compared to the consensus estimate of $54.96 million. Mimecast Limited had a negative net margin of 3.73% and a negative return on equity of 9.67%. Mimecast Limited’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 EPS.
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Several other research analysts have also weighed in on MIME. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 target price (up previously from $33.00) on shares of Mimecast Limited in a research note on Tuesday. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $36.00 target price (up previously from $32.00) on shares of Mimecast Limited in a research note on Wednesday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $30.00 target price on shares of Mimecast Limited in a research note on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and set a $35.00 target price (up previously from $32.00) on shares of Mimecast Limited in a research note on Wednesday. Finally, Barclays PLC increased their target price on shares of Mimecast Limited from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company. Mimecast Limited presently has a consensus rating of “Buy” and a consensus price target of $30.46.
Shares of Mimecast Limited (NASDAQ:MIME) traded down 0.54% during mid-day trading on Friday, reaching $27.52. 233,838 shares of the company’s stock were exchanged. The company’s 50 day moving average is $27.32 and its 200 day moving average is $24.06. The stock’s market capitalization is $1.56 billion. Mimecast Limited has a 1-year low of $14.06 and a 1-year high of $30.10.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. New York State Common Retirement Fund acquired a new position in Mimecast Limited during the second quarter valued at approximately $472,000. Wells Fargo & Company MN raised its position in Mimecast Limited by 27.1% in the second quarter. Wells Fargo & Company MN now owns 24,600 shares of the technology company’s stock valued at $659,000 after buying an additional 5,245 shares during the last quarter. JPMorgan Chase & Co. raised its position in Mimecast Limited by 96.0% in the second quarter. JPMorgan Chase & Co. now owns 34,302 shares of the technology company’s stock valued at $919,000 after buying an additional 16,805 shares during the last quarter. Airain ltd raised its position in Mimecast Limited by 1.8% in the second quarter. Airain ltd now owns 16,906 shares of the technology company’s stock valued at $453,000 after buying an additional 294 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in Mimecast Limited during the second quarter valued at approximately $2,719,000. 47.95% of the stock is owned by institutional investors and hedge funds.
Mimecast Limited Company Profile
Mimecast Limited is a provider of cloud security and risk management services for corporate information and e-mail. The Company’s suite of cloud services protects customers from the business and data security risks. It also mitigates the business disruption that e-mail failure or downtime causes. In addition, its archiving services secure, store and manage critical corporate communications and information to address the compliance and e-discovery requirements.
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