Mimecast Limited (MIME) Issues Quarterly Earnings Results
Mimecast Limited (NASDAQ:MIME) released its earnings results on Monday. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.05, Bloomberg Earnings reports. Mimecast Limited had a negative return on equity of 6.82% and a negative net margin of 2.92%. The firm had revenue of $58.16 million for the quarter, compared to analyst estimates of $54.96 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The company’s quarterly revenue was up 40.3% on a year-over-year basis.
Mimecast Limited (NASDAQ MIME) traded up 0.93% on Monday, reaching $28.19. The company’s stock had a trading volume of 310,870 shares. The firm’s 50-day moving average price is $26.85 and its 200 day moving average price is $23.77. Mimecast Limited has a 52-week low of $12.40 and a 52-week high of $29.48. The company’s market cap is $1.59 billion.
Several brokerages have issued reports on MIME. Royal Bank Of Canada restated a “buy” rating and issued a $30.00 price target on shares of Mimecast Limited in a report on Monday, July 31st. Needham & Company LLC began coverage on Mimecast Limited in a report on Tuesday, July 25th. They issued a “buy” rating and a $33.00 price target for the company. BidaskClub downgraded Mimecast Limited from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Zacks Investment Research downgraded Mimecast Limited from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Finally, Benchmark Co. increased their price target on Mimecast Limited from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $28.42.
Mimecast Limited Company Profile
Mimecast Limited is a provider of cloud security and risk management services for corporate information and e-mail. The Company’s suite of cloud services protects customers from the business and data security risks. It also mitigates the business disruption that e-mail failure or downtime causes. In addition, its archiving services secure, store and manage critical corporate communications and information to address the compliance and e-discovery requirements.
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