Mimecast Limited (MIME) Expected to Post Quarterly Sales of $60.05 Million
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.
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.
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