Analysts Anticipate Mimecast Limited (MIME) Will Post Quarterly Sales of $60.05 Million
Equities analysts expect that Mimecast Limited (NASDAQ:MIME) will report sales of $60.05 million for the current quarter, according to Zacks. Four analysts have provided estimates for Mimecast Limited’s earnings. The highest sales estimate is $60.11 million and the lowest is $60.00 million. Mimecast Limited reported sales of $44.36 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 35.4%. The business is scheduled to report its next quarterly earnings results after the market closes 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 financial year, analysts anticipate that the business will report sales of $300.77 million per share, with estimates ranging from $286.00 million to $309.90 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Mimecast Limited.
Mimecast Limited (NASDAQ:MIME) last released its quarterly earnings data on Monday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $58.16 million during the quarter, compared to analyst estimates of $54.96 million. During the same period in the prior year, the company posted $0.04 earnings per share. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year.
Several analysts recently weighed in on MIME shares. BidaskClub upgraded Mimecast Limited from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research cut Mimecast Limited from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Needham & Company LLC initiated coverage on Mimecast Limited in a report on Tuesday, July 25th. They issued a “buy” rating and a $33.00 target price for the company. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $30.00 target price on shares of Mimecast Limited in a report on Monday, July 31st. Finally, Barclays PLC upped their target price on Mimecast Limited from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $31.08.
Shares of Mimecast Limited (NASDAQ MIME) opened at 30.87 on Wednesday. The stock has a 50 day moving average price of $28.85 and a 200-day moving average price of $26.96. Mimecast Limited has a 52 week low of $16.75 and a 52 week high of $31.94. The firm’s market capitalization is $1.75 billion.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Columbus Circle Investors grew its stake in Mimecast Limited by 88.6% during the second quarter. Columbus Circle Investors now owns 728,762 shares of the technology company’s stock worth $19,516,000 after purchasing an additional 342,405 shares during the period. Renaissance Technologies LLC grew its stake in Mimecast Limited by 83.0% during the second quarter. Renaissance Technologies LLC now owns 684,600 shares of the technology company’s stock worth $18,334,000 after purchasing an additional 310,500 shares during the period. ETF Managers Group LLC acquired a new stake in Mimecast Limited during the second quarter worth approximately $17,278,000. Arrowstreet Capital Limited Partnership grew its stake in Mimecast Limited by 21.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 425,518 shares of the technology company’s stock worth $11,395,000 after purchasing an additional 75,998 shares during the period. Finally, Frontier Capital Management Co. LLC acquired a new stake in Mimecast Limited during the second quarter worth approximately $11,326,000. 52.55% of the stock is owned by institutional investors and hedge funds.
Mimecast Limited Company Profile
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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