$0.02 EPS Expected for Mimecast Limited (MIME) This Quarter
Equities analysts forecast that Mimecast Limited (NASDAQ:MIME) will post $0.02 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Mimecast Limited’s earnings. The lowest EPS estimate is $0.01 and the highest is $0.04. Mimecast Limited reported earnings per share of $0.05 during the same quarter last year, which would indicate a negative year over year growth rate of 60%. The company is scheduled to announce its next earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that Mimecast Limited will report full-year earnings of $0.07 per share for the current fiscal year, with EPS estimates ranging from $0.02 to $0.12. For the next fiscal year, analysts forecast that the company will post earnings of $0.22 per share, with EPS estimates ranging from $0.14 to $0.30. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Mimecast Limited.
Mimecast Limited (NASDAQ:MIME) last released its earnings results on Monday, August 7th. The technology company reported $0.01 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $58.16 million during the quarter, compared to the consensus estimate of $54.96 million. During the same period in the prior year, the firm earned $0.04 EPS. The company’s revenue was up 40.3% compared to the same quarter last year.
A number of brokerages have commented on MIME. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 target price (up from $33.00) on shares of Mimecast Limited in a report on Tuesday, August 8th. BidaskClub cut shares of Mimecast Limited from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $33.00 price target (up from $30.00) on shares of Mimecast Limited in a research report on Tuesday, August 8th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $32.00 price target (up from $27.00) on shares of Mimecast Limited in a research report on Tuesday, August 8th. Finally, Barclays PLC upped their price target on shares of Mimecast Limited from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $31.08.
Mimecast Limited (NASDAQ:MIME) traded up 2.52% on Wednesday, hitting $29.75. 258,313 shares of the stock were exchanged. The company has a 50-day moving average of $27.50 and a 200-day moving average of $25.98. The stock’s market cap is $1.69 billion. Mimecast Limited has a 12 month low of $16.75 and a 12 month high of $30.10.
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A number of hedge funds have recently added to or reduced their stakes in MIME. Quantbot Technologies LP purchased a new stake in shares of Mimecast Limited in the second quarter valued at $104,000. US Bancorp DE raised its stake in shares of Mimecast Limited by 605.2% in the first 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 during the period. Crow Point Partners LLC purchased a new stake in shares of Mimecast Limited in the second quarter valued at $281,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Mimecast Limited in the second quarter valued at $290,000. Finally, Bank of America Corp DE raised its stake in shares of Mimecast Limited by 45.2% in the first 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 during the period. Institutional investors and hedge funds own 52.56% 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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