Mimecast Limited (MIME) Earns Buy Rating from Jefferies Group LLC

Jefferies Group LLC reiterated their buy rating on shares of Mimecast Limited (NASDAQ:MIME) in a research report sent to investors on Sunday morning. The brokerage currently has a $35.00 price target on the technology company’s stock.

Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada restated a buy rating and set a $30.00 price target on shares of Mimecast Limited in a research note on Monday, July 31st. Needham & Company LLC started coverage on shares of Mimecast Limited in a research note on Tuesday, July 25th. They set a buy rating and a $33.00 price target for the company. BidaskClub cut shares of Mimecast Limited from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Oppenheimer Holdings, Inc. restated an outperform rating and set a $32.00 price target (up previously from $27.00) on shares of Mimecast Limited in a research note on Tuesday, August 8th. Finally, J P Morgan Chase & Co restated an overweight rating and set a $36.00 price target (up previously from $32.00) on shares of Mimecast Limited in a research note on Wednesday, August 9th. One equities research 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. The company presently has an average rating of Buy and an average target price of $30.46.

Mimecast Limited (MIME) opened at 28.14 on Friday. Mimecast Limited has a 12-month low of $14.53 and a 12-month high of $30.10. The stock’s 50 day moving average price is $27.40 and its 200 day moving average price is $25.01. The company’s market capitalization is $1.60 billion.

Mimecast Limited (NASDAQ:MIME) last released its earnings results on Monday, August 7th. The technology company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. The business had revenue of $58.16 million during the quarter, compared to analysts’ expectations of $54.96 million. Mimecast Limited had a negative net margin of 3.73% and a negative return on equity of 9.67%. The firm’s revenue was up 40.3% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share. On average, equities research analysts anticipate that Mimecast Limited will post $0.06 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. State of Wisconsin Investment Board acquired a new stake in shares of Mimecast Limited during the first quarter worth approximately $3,314,000. Pier Capital LLC increased its holdings in shares of Mimecast Limited by 17.5% during the first quarter. Pier Capital LLC now owns 273,309 shares of the technology company’s stock worth $6,119,000 after buying an additional 40,713 shares in the last quarter. Cortina Asset Management LLC increased its holdings in shares of Mimecast Limited by 22.4% during the first quarter. Cortina Asset Management LLC now owns 499,170 shares of the technology company’s stock worth $11,176,000 after buying an additional 91,374 shares in the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Mimecast Limited by 53.1% during the first quarter. Driehaus Capital Management LLC now owns 587,266 shares of the technology company’s stock worth $13,149,000 after buying an additional 203,807 shares in the last quarter. Finally, Penserra Capital Management LLC increased its holdings in shares of Mimecast Limited by 23.1% during the first quarter. Penserra Capital Management LLC now owns 774,621 shares of the technology company’s stock worth $17,343,000 after buying an additional 145,188 shares in the last quarter. 52.56% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Mimecast Limited (NASDAQ:MIME)

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