Brokerages Anticipate Mimecast Limited (MIME) Will Post Earnings of $0.02 Per Share
Equities analysts expect Mimecast Limited (NASDAQ:MIME) to post $0.02 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Mimecast Limited’s earnings, with estimates ranging from $0.01 to $0.04. Mimecast Limited reported earnings per share of $0.05 in the same quarter last year, which would suggest a negative year over year growth rate of 60%. The company is expected to report its next quarterly earnings report after the market closes on Wednesday, November 8th.
On average, analysts expect that Mimecast Limited will report full year earnings of $0.06 per share for the current financial year, with EPS estimates ranging from $0.02 to $0.12. For the next year, analysts anticipate that the firm will report earnings of $0.20 per share, with EPS estimates ranging from $0.08 to $0.30. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Mimecast Limited.
Mimecast Limited (NASDAQ:MIME) last announced its quarterly earnings data on Monday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $58.16 million for the quarter, compared to analysts’ expectations of $54.96 million. During the same period in the previous year, the business posted $0.04 EPS. The firm’s quarterly revenue was up 40.3% compared to the same quarter last year.
A number of research firms have weighed in on MIME. Royal Bank Of Canada reissued a “buy” rating and issued a $33.00 target price on shares of Mimecast Limited in a report on Wednesday, October 18th. Zacks Investment Research downgraded Mimecast Limited from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $32.00 target price (up previously from $27.00) on shares of Mimecast Limited in a report on Tuesday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $35.00 target price (up previously from $33.00) on shares of Mimecast Limited in a report on Tuesday, August 8th. Finally, Barclays PLC increased their target price on Mimecast Limited from $30.00 to $31.00 and gave the company an “overweight” rating in a 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 assigned a buy rating to the company’s stock. Mimecast Limited presently has a consensus rating of “Buy” and an average target price of $31.08.
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Shares of Mimecast Limited (NASDAQ MIME) traded down 2.88% during midday trading on Monday, reaching $30.74. The company had a trading volume of 316,684 shares. Mimecast Limited has a 12-month low of $16.75 and a 12-month high of $31.94. The firm’s market capitalization is $1.75 billion. The company has a 50 day moving average of $28.67 and a 200 day moving average of $26.75.
A number of institutional investors and hedge funds have recently modified their holdings of MIME. Wells Fargo & Company MN raised its stake in Mimecast Limited by 51.3% during the 1st quarter. Wells Fargo & Company MN now owns 19,355 shares of the technology company’s stock valued at $433,000 after purchasing an additional 6,561 shares during the period. JPMorgan Chase & Co. raised its stake in Mimecast Limited by 15.8% during the 1st quarter. JPMorgan Chase & Co. now owns 17,497 shares of the technology company’s stock valued at $392,000 after purchasing an additional 2,385 shares during the period. Bank of America Corp DE raised its stake 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 purchasing an additional 4,083 shares during the period. Crow Point Partners LLC bought a new stake in Mimecast Limited during the 2nd quarter valued at approximately $281,000. Finally, US Bancorp DE raised its stake in Mimecast Limited by 11.9% during the 2nd quarter. US Bancorp DE now owns 7,155 shares of the technology company’s stock valued at $192,000 after purchasing an additional 759 shares during the period. 52.56% of the stock is currently owned by institutional investors.
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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