Mimecast Limited (NASDAQ:MIME) had its price target raised by equities research analysts at Barclays PLC from $30.00 to $31.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays PLC’s target price indicates a potential upside of 4.03% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of Mimecast Limited from $30.00 to $33.00 and gave the stock an “outperform” rating in a research report on Tuesday. Needham & Company LLC began coverage on shares of Mimecast Limited in a research report on Tuesday, July 25th. They set a “buy” rating and a $33.00 price objective for the company. BidaskClub cut shares of Mimecast Limited from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research cut shares of Mimecast Limited from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Finally, Benchmark Co. increased their price objective on shares of Mimecast Limited from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Mimecast Limited has a consensus rating of “Buy” and a consensus price target of $29.00.

Shares of Mimecast Limited (NASDAQ:MIME) traded up 5.71% during mid-day trading on Tuesday, hitting $29.80. 1,344,553 shares of the company were exchanged. The company’s 50-day moving average price is $26.85 and its 200-day moving average price is $23.77. Mimecast Limited has a 12-month low of $12.40 and a 12-month high of $30.10. The firm’s market capitalization is $1.68 billion.

Mimecast Limited (NASDAQ:MIME) last announced its quarterly earnings results on Monday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. Mimecast Limited had a negative net margin of 2.92% and a negative return on equity of 6.82%. The firm had revenue of $58.16 million during the quarter, compared to analysts’ expectations of $54.96 million. During the same period in the prior year, the company posted $0.04 EPS. The company’s revenue was up 40.3% on a year-over-year basis. Equities research analysts predict that Mimecast Limited will post $0.06 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in Mimecast Limited by 3.1% in the first quarter. Wellington Management Group LLP now owns 1,626,028 shares of the technology company’s stock worth $36,407,000 after buying an additional 48,438 shares during the last quarter. Penserra Capital Management LLC raised its position in Mimecast Limited by 23.1% in the first quarter. Penserra Capital Management LLC now owns 774,621 shares of the technology company’s stock worth $17,343,000 after buying an additional 145,188 shares during the last quarter. Columbus Circle Investors raised its position in Mimecast Limited by 88.6% in the second quarter. Columbus Circle Investors now owns 728,762 shares of the technology company’s stock worth $19,516,000 after buying an additional 342,405 shares during the last quarter. Driehaus Capital Management LLC raised its position in Mimecast Limited by 53.1% in the first quarter. Driehaus Capital Management LLC now owns 587,266 shares of the technology company’s stock worth $13,149,000 after buying an additional 203,807 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its position in Mimecast Limited by 5.4% in the first quarter. Kornitzer Capital Management Inc. KS now owns 576,381 shares of the technology company’s stock worth $12,905,000 after buying an additional 29,720 shares during the last quarter. 47.95% of the stock is currently owned by institutional investors.

About Mimecast Limited

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.

Analyst Recommendations for Mimecast Limited (NASDAQ:MIME)

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