BidaskClub Downgrades Mimecast (MIME) to Hold

Mimecast (NASDAQ:MIME) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other analysts have also commented on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $38.00 price objective on shares of Mimecast in a research report on Tuesday, February 13th. Barclays boosted their price objective on shares of Mimecast from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Needham & Company LLC boosted their price objective on shares of Mimecast from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. BMO Capital Markets boosted their price objective on shares of Mimecast from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 13th. Finally, Deutsche Bank began coverage on shares of Mimecast in a research report on Tuesday, December 19th. They issued a “buy” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. Mimecast presently has an average rating of “Buy” and an average target price of $36.00.

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Shares of MIME stock opened at $35.46 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market capitalization of $2,057.52, a PE ratio of -354.60 and a beta of 0.24. Mimecast has a 12 month low of $20.91 and a 12 month high of $39.33.

Mimecast (NASDAQ:MIME) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01. The business had revenue of $67.30 million for the quarter, compared to analyst estimates of $64.92 million. Mimecast had a negative net margin of 3.51% and a negative return on equity of 9.88%. The business’s quarterly revenue was up 39.3% on a year-over-year basis. analysts anticipate that Mimecast will post -0.17 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Peregrine Capital Management LLC raised its position in Mimecast by 0.6% during the fourth quarter. Peregrine Capital Management LLC now owns 577,305 shares of the technology company’s stock worth $16,551,000 after acquiring an additional 3,419 shares in the last quarter. Invictus RG acquired a new position in shares of Mimecast in the third quarter valued at $143,000. American Century Companies Inc. increased its holdings in shares of Mimecast by 2.8% in the fourth quarter. American Century Companies Inc. now owns 193,162 shares of the technology company’s stock valued at $5,538,000 after purchasing an additional 5,187 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Mimecast by 1.6% in the fourth quarter. Bank of New York Mellon Corp now owns 391,621 shares of the technology company’s stock valued at $11,229,000 after purchasing an additional 6,041 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Mimecast by 22.5% in the third quarter. California Public Employees Retirement System now owns 34,413 shares of the technology company’s stock valued at $978,000 after purchasing an additional 6,313 shares during the last quarter. 64.57% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Mimecast (NASDAQ:MIME)

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