Mimecast Ltd. (MIME) Receives New Coverage from Analysts at JPMorgan Chase & Co.
Equities researchers at JPMorgan Chase & Co. started coverage on shares of Mimecast Ltd. (NASDAQ:MIME) in a research report issued on Friday. The firm set an “overweight” rating on the stock.
Several other equities research analysts also recently weighed in on the stock. Barclays PLC increased their target price on shares of Mimecast from $16.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, October 3rd. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $20.00 target price (up previously from $15.00) on shares of Mimecast in a research note on Thursday, September 1st. Zacks Investment Research upgraded shares of Mimecast from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday, August 12th. Dougherty & Co increased their target price on shares of Mimecast from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Mimecast in a research report on Thursday, June 23rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $16.79.
Shares of Mimecast (NASDAQ:MIME) opened at 18.90 on Friday. The stock has a 50 day moving average price of $17.30 and a 200-day moving average price of $11.91. The stock’s market capitalization is $1.03 billion. Mimecast has a 52-week low of $6.01 and a 52-week high of $20.10.
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Mimecast (NASDAQ:MIME) last announced its earnings results on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.08. The business had revenue of $41.46 million for the quarter, compared to analyst estimates of $39.85 million. During the same quarter last year, the company posted ($0.04) EPS. Mimecast’s quarterly revenue was up 24.4% on a year-over-year basis. On average, equities research analysts predict that Mimecast will post $0.02 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of MIME. Abdiel Capital Advisors LP increased its stake in 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. Penserra Capital Management LLC increased its stake in 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. JPMorgan Chase & Co. increased its stake in 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 last quarter. Wall Street Associates increased its stake in 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. Finally, Weiss Multi Strategy Advisers LLC increased its stake in 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 last quarter. Institutional investors own 30.67% of the company’s stock.
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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