Oppenheimer Holdings, Inc. Reaffirms Outperform Rating for Mimecast Limited (MIME)
Mimecast Limited (NASDAQ:MIME)‘s stock had its “outperform” rating restated by analysts at Oppenheimer Holdings, Inc. in a research report issued on Tuesday. They presently have a $32.00 target price on the technology company’s stock, up from their previous target price of $27.00. Oppenheimer Holdings, Inc.’s price objective would indicate a potential upside of 7.38% from the company’s current price.
Other equities research analysts have also issued research reports about the stock. BidaskClub lowered shares of Mimecast Limited from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Royal Bank Of Canada restated a “buy” rating and issued a $30.00 target price on shares of Mimecast Limited in a research note on Monday, July 31st. Needham & Company LLC initiated coverage on shares of Mimecast Limited in a research note on Tuesday, July 25th. They issued a “buy” rating and a $33.00 target price on the stock. Benchmark Co. upped their target price on shares of Mimecast Limited from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Finally, Summit Redstone restated a “buy” rating and issued a $30.00 target price on shares of Mimecast Limited in a research note on Thursday, April 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $29.58.
Mimecast Limited (NASDAQ:MIME) traded up 5.71% during mid-day trading on Tuesday, hitting $29.80. The stock had a trading volume of 1,355,583 shares. The stock’s market cap is $1.68 billion. Mimecast Limited has a one year low of $12.50 and a one year high of $30.10. The company has a 50 day moving average price of $27.02 and a 200 day moving average price of $23.86.
Mimecast Limited (NASDAQ:MIME) last issued its earnings results on Monday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. The business had revenue of $58.16 million for the quarter, compared to analyst estimates of $54.96 million. Mimecast Limited had a negative net margin of 2.92% and a negative return on equity of 6.82%. The company’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.04 EPS. On average, equities analysts anticipate that Mimecast Limited will post $0.06 EPS for the current year.
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Large investors have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P acquired a new stake in Mimecast Limited during the first quarter valued at $11,353,000. Garelick Capital Partners LP acquired a new stake in Mimecast Limited during the first quarter valued at $10,388,000. Frontier Capital Management Co. LLC acquired a new stake in Mimecast Limited during the second quarter valued at $11,326,000. Columbus Circle Investors raised its stake in Mimecast Limited by 88.6% in the second quarter. Columbus Circle Investors now owns 728,762 shares of the technology company’s stock valued at $19,516,000 after buying an additional 342,405 shares during the period. Finally, Driehaus Capital Management LLC raised its stake 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 valued at $13,149,000 after buying an additional 203,807 shares during the period. Hedge funds and other institutional investors own 47.95% of the company’s stock.
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.
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