Mimecast Ltd. (MIME) Shares Up 3.3%
Mimecast Ltd. (NASDAQ:MIME) shot up 3.3% during mid-day trading on Tuesday . The stock traded as high as $15.80 and last traded at $15.61, with a volume of 115,986 shares traded. The stock had previously closed at $15.11.
Several research firms have issued reports on MIME. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $20.00 target price (up previously from $15.00) on shares of Mimecast in a research report on Thursday, September 1st. Zacks Investment Research upgraded Mimecast from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Friday, August 12th. Dougherty & Co increased their price objective on Mimecast from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Barclays PLC increased their price objective on Mimecast from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Mimecast in a research report on Thursday, June 23rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $15.93.
The company’s 50-day moving average price is $15.14 and its 200-day moving average price is $10.83. The stock’s market cap is $858.00 million.
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Mimecast (NASDAQ:MIME) last posted its earnings results on Monday, August 8th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The company earned $41.46 million during the quarter, compared to the consensus estimate of $39.85 million. During the same period last year, the firm posted ($0.04) EPS. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. Equities analysts forecast that Mimecast Ltd. will post $0.02 EPS for the current year.
A number of large investors have recently bought and sold shares of MIME. Abdiel Capital Advisors LP increased its stake in shares of Mimecast by 5.8% in the second quarter. Abdiel Capital Advisors LP now owns 2,930,579 shares of the company’s stock worth $29,335,000 after buying an additional 160,117 shares during the last quarter. Spark Investment Management LLC acquired a new stake in shares of Mimecast during the second quarter worth about $891,000. Wall Street Associates increased its stake 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 last quarter. Penserra Capital Management LLC increased its stake 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 last quarter. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Mimecast during the second quarter worth about $725,000. 30.66% of the stock is owned by institutional investors and hedge funds.
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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