BMO Capital Markets Reaffirms Outperform Rating for Mimecast (NASDAQ:MIME)

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BMO Capital Markets reaffirmed their outperform rating on shares of Mimecast (NASDAQ:MIME) in a research report released on Tuesday, The Fly reports. The brokerage currently has a $58.00 price objective on the technology company’s stock. The analysts noted that the move was a valuation call.

A number of other research analysts have also recently weighed in on MIME. Zacks Investment Research upgraded shares of Mimecast from a hold rating to a buy rating and set a $56.00 target price on the stock in a research note on Tuesday, January 21st. Jefferies Financial Group boosted their target price on shares of Mimecast from $57.00 to $60.00 and gave the company a buy rating in a research note on Tuesday. Needham & Company LLC reiterated a buy rating and issued a $65.00 target price on shares of Mimecast in a research note on Friday, November 8th. Monness Crespi & Hardt boosted their target price on shares of Mimecast from $55.00 to $58.00 and gave the company a buy rating in a research note on Monday, January 13th. Finally, Dougherty & Co cut shares of Mimecast from a buy rating to a neutral rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $58.43.

Shares of MIME stock opened at $49.02 on Tuesday. Mimecast has a 52-week low of $34.62 and a 52-week high of $54.57. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.18 and a current ratio of 1.18. The company has a 50-day simple moving average of $48.72 and a two-hundred day simple moving average of $43.37. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -445.64, a PEG ratio of 42.60 and a beta of 1.14.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings data on Monday, February 10th. The technology company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.02. Mimecast had a negative net margin of 1.64% and a negative return on equity of 0.67%. The business had revenue of $110.16 million during the quarter, compared to the consensus estimate of $108.12 million. During the same period in the prior year, the firm posted $0.09 EPS. The firm’s quarterly revenue was up 25.7% compared to the same quarter last year. On average, sell-side analysts forecast that Mimecast will post 0.06 EPS for the current fiscal year.

In related news, Director Neil Murray sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $43.09, for a total transaction of $1,508,150.00. Following the sale, the director now directly owns 1,661,665 shares in the company, valued at approximately $71,601,144.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter Bauer sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $44.52, for a total transaction of $667,800.00. Following the sale, the chief executive officer now owns 140,000 shares in the company, valued at $6,232,800. The disclosure for this sale can be found here. Insiders have sold a total of 120,000 shares of company stock worth $5,424,650 over the last 90 days. 11.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of MIME. Marshall Wace LLP acquired a new position in shares of Mimecast during the first quarter worth $49,000. BlackRock Inc. lifted its holdings in Mimecast by 235.1% in the second quarter. BlackRock Inc. now owns 333,184 shares of the technology company’s stock valued at $15,563,000 after buying an additional 233,741 shares during the period. Vanguard Group Inc. lifted its holdings in Mimecast by 13.5% in the second quarter. Vanguard Group Inc. now owns 212,291 shares of the technology company’s stock valued at $9,916,000 after buying an additional 25,249 shares during the period. Fox Run Management L.L.C. acquired a new position in Mimecast in the third quarter valued at $259,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Mimecast by 87.9% in the third quarter. Assenagon Asset Management S.A. now owns 39,812 shares of the technology company’s stock valued at $1,420,000 after buying an additional 18,622 shares during the period. Institutional investors and hedge funds own 71.52% of the company’s stock.

Mimecast Company Profile

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.

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The Fly

Analyst Recommendations for Mimecast (NASDAQ:MIME)

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