Mimecast Limited (MIME) Given “Outperform” Rating at Royal Bank Of Canada
Mimecast Limited (NASDAQ:MIME)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They presently have a $33.00 price target on the technology company’s stock, up from their previous price target of $30.00. Royal Bank Of Canada’s price target would suggest a potential upside of 13.36% from the stock’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. 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 stock a “buy” rating in a research note on Wednesday, May 10th. Summit Redstone reiterated a “buy” rating and issued a $30.00 target price on shares of Mimecast Limited in a research note on Thursday, April 13th. Finally, Zacks Investment Research upgraded shares of Mimecast Limited from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $30.46.
Mimecast Limited (MIME) opened at 29.11 on Tuesday. The company’s market cap is $1.64 billion. The company has a 50-day moving average of $27.30 and a 200 day moving average of $24.03. Mimecast Limited has a 12 month low of $13.73 and a 12 month high of $30.10.
Mimecast Limited (NASDAQ:MIME) last posted its quarterly earnings data on Monday, August 7th. The technology company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. Mimecast Limited had a negative net margin of 3.73% and a negative return on equity of 9.67%. The business had revenue of $58.16 million for the quarter, compared to analyst estimates of $54.96 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. Mimecast Limited’s quarterly revenue was up 40.3% on a year-over-year basis. On average, equities analysts forecast that Mimecast Limited will post $0.06 earnings per share for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in MIME. Cadence Capital Management LLC acquired a new stake in shares of Mimecast Limited during the first quarter worth approximately $679,000. Pier Capital LLC boosted its stake in shares of Mimecast Limited by 17.5% in the first quarter. Pier Capital LLC now owns 273,309 shares of the technology company’s stock worth $6,119,000 after buying an additional 40,713 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Mimecast Limited by 15.8% in the first quarter. JPMorgan Chase & Co. now owns 17,497 shares of the technology company’s stock worth $392,000 after buying an additional 2,385 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of 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 in the last quarter. Finally, Airain ltd acquired a new stake in shares of Mimecast Limited during the first quarter worth approximately $372,000. 47.95% of the stock is owned by institutional investors and hedge funds.
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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