Mimecast Ltd. (NASDAQ:MIME) had its target price upped by Barclays PLC from $16.00 to $22.00 in a research note issued to investors on Monday. The brokerage currently has an overweight rating on the stock.
MIME has been the subject of several other reports. Zacks Investment Research raised Mimecast from a sell rating to a hold rating in a report on Wednesday, July 6th. Oppenheimer Holdings Inc. reissued an outperform rating and issued a $15.00 price objective on shares of Mimecast in a report on Wednesday, August 3rd. Dougherty & Co boosted their price objective on Mimecast from $12.00 to $16.00 and gave the company a buy rating in a report on Tuesday, August 9th. Finally, Royal Bank Of Canada reissued a buy rating on shares of Mimecast in a report on Thursday, June 23rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Mimecast currently has a consensus rating of Buy and an average price target of $16.79.
Mimecast (NASDAQ:MIME) opened at 19.73 on Monday. The firm’s market cap is $1.07 billion. Mimecast has a 1-year low of $6.01 and a 1-year high of $20.10. The company’s 50-day moving average price is $16.55 and its 200 day moving average price is $11.49.
Mimecast (NASDAQ:MIME) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. The firm earned $41.46 million during the quarter, compared to the consensus estimate of $39.85 million. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) earnings per share. On average, equities analysts expect that Mimecast will post $0.02 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of MIME. Abdiel Capital Advisors LP raised its position in Mimecast by 5.8% in the second quarter. Abdiel Capital Advisors LP now owns 2,930,579 shares of the company’s stock valued at $29,335,000 after buying an additional 160,117 shares during the period. Penserra Capital Management LLC raised its position in shares of 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. JPMorgan Chase & Co. raised its position in shares of Mimecast by 14.5% in the first quarter. JPMorgan Chase & Co. now owns 261,724 shares of the company’s stock worth $2,546,000 after buying an additional 33,155 shares during the period. Wall Street Associates raised its position in shares of 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. Finally, Weiss Multi Strategy Advisers LLC raised its position in shares of Mimecast by 18.6% in the second quarter. Weiss Multi Strategy Advisers LLC now owns 120,000 shares of the company’s stock worth $1,201,000 after buying an additional 18,800 shares during the period. 30.66% of the stock is owned by institutional investors.
Mimecast Company Profile
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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