Equities research analysts predict that Mimecast Limited (NASDAQ:MIME) will announce $60.05 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Mimecast Limited’s earnings, with estimates ranging from $60.00 million to $60.11 million. Mimecast Limited posted sales of $44.36 million during the same quarter last year, which suggests a positive year over year growth rate of 35.4%. 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 sales of $60.05 million for the current fiscal year, with estimates ranging from $249.00 million to $250.17 million. For the next fiscal year, analysts forecast that the business will report sales of $295.36 million per share, with estimates ranging from $273.72 million to $309.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Mimecast Limited.

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, topping the Thomson Reuters’ 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 company had revenue of $58.16 million for the quarter, compared to analysts’ expectations of $54.96 million. During the same period in the prior year, the business earned $0.04 EPS. The firm’s quarterly revenue was up 40.3% on a year-over-year basis.

Several equities analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 target price (up from $33.00) on shares of Mimecast Limited in a research report on Tuesday, August 8th. BidaskClub downgraded Mimecast Limited from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $33.00 target price (up from $30.00) on shares of Mimecast Limited in a research report on Tuesday, August 8th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $32.00 target price (up from $27.00) on shares of Mimecast Limited in a research report on Tuesday, August 8th. Finally, Barclays PLC lifted their target price on Mimecast Limited from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $31.08.

Mimecast Limited (MIME) opened at 29.85 on Friday. The company’s market capitalization is $1.70 billion. The firm’s 50-day moving average is $27.60 and its 200 day moving average is $26.04. Mimecast Limited has a one year low of $16.75 and a one year high of $30.10.

TRADEMARK VIOLATION NOTICE: “Mimecast Limited (MIME) Expected to Post Quarterly Sales of $60.05 Million” was originally published by American Banking News and is owned by of American Banking News. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of international trademark & copyright law. The correct version of this news story can be read at https://www.americanbankingnews.com/2017/10/06/mimecast-limited-mime-expected-to-post-quarterly-sales-of-60-05-million.html.

Several institutional investors have recently made changes to their positions in the company. Airain ltd grew its position in shares of Mimecast Limited by 1.8% during the second quarter. Airain ltd now owns 16,906 shares of the technology company’s stock worth $453,000 after buying an additional 294 shares in the last quarter. US Bancorp DE grew its position in shares of Mimecast Limited by 11.9% during the second quarter. US Bancorp DE now owns 7,155 shares of the technology company’s stock worth $192,000 after buying an additional 759 shares in the last quarter. First Mercantile Trust Co. grew its position in shares of Mimecast Limited by 15.3% during the second quarter. First Mercantile Trust Co. now owns 14,272 shares of the technology company’s stock worth $382,000 after buying an additional 1,897 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Mimecast Limited by 15.8% during 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. Finally, Quantbot Technologies LP acquired a new position in shares of Mimecast Limited during the second quarter worth about $104,000. 52.56% of the stock is 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.

Get a free copy of the Zacks research report on Mimecast Limited (MIME)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Mimecast Limited (NASDAQ:MIME)

Receive News & Ratings for Mimecast Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mimecast Limited and related companies with MarketBeat.com's FREE daily email newsletter.