Mimecast Limited (MIME) Stock Rating Reaffirmed by Jefferies Group LLC
Mimecast Limited (NASDAQ:MIME)‘s stock had its “buy” rating reiterated by Jefferies Group LLC in a report released on Sunday. They presently have a $35.00 target price on the technology company’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 36.03% from the stock’s current price.
MIME has been the topic of a number of other research reports. Royal Bank Of Canada restated an “outperform” rating and set a $33.00 price target (up previously from $30.00) on shares of Mimecast Limited in a report on Tuesday, August 8th. BidaskClub upgraded Mimecast Limited from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. J P Morgan Chase & Co restated an “overweight” rating and set a $36.00 price target (up previously from $32.00) on shares of Mimecast Limited in a report on Wednesday, August 9th. Needham & Company LLC restated a “buy” rating and set a $35.00 price target (up previously from $33.00) on shares of Mimecast Limited in a report on Tuesday, August 8th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $32.00 price target (up previously from $27.00) on shares of Mimecast Limited in a report on Tuesday, August 8th. One research 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. Mimecast Limited has an average rating of “Buy” and a consensus price target of $30.46.
Shares of Mimecast Limited (NASDAQ MIME) opened at 25.73 on Friday. The company’s market cap is $1.46 billion. The company’s 50 day moving average price is $27.39 and its 200 day moving average price is $24.89. Mimecast Limited has a 12 month low of $14.53 and a 12 month high of $30.10.
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 analysts’ consensus estimates of ($0.04) by $0.05. Mimecast Limited had a negative return on equity of 9.67% and a negative net margin of 3.73%. The company had revenue of $58.16 million for the quarter, compared to the consensus estimate of $54.96 million. During the same quarter in the previous year, the business earned $0.04 EPS. Mimecast Limited’s revenue was up 40.3% compared to the same quarter last year. On average, equities analysts expect that Mimecast Limited will post $0.06 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP bought a new stake in Mimecast Limited during the 2nd quarter valued at approximately $104,000. US Bancorp DE boosted its position in Mimecast Limited by 605.2% during the 1st quarter. US Bancorp DE now owns 6,396 shares of the technology company’s stock valued at $143,000 after acquiring an additional 5,489 shares in the last quarter. Crow Point Partners LLC bought a new stake in Mimecast Limited during the 2nd quarter valued at approximately $281,000. Cubist Systematic Strategies LLC bought a new stake in Mimecast Limited during the 2nd quarter valued at approximately $290,000. Finally, Bank of America Corp DE boosted its position in Mimecast Limited by 45.2% during the 1st quarter. Bank of America Corp DE now owns 13,111 shares of the technology company’s stock valued at $294,000 after acquiring an additional 4,083 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.
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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