Mimecast Limited (NASDAQ:MIME) has received a consensus rating of “Buy” from the fifteen brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $31.08.

A number of equities analysts recently issued reports on MIME shares. BidaskClub upgraded Mimecast Limited from a “buy” rating to a “strong-buy” rating in a 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 on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $30.00 price target on shares of Mimecast Limited in a research report on Monday, July 31st. Finally, Barclays PLC increased their price target on Mimecast Limited from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th.

Mimecast Limited (MIME) traded down 1.76% during mid-day trading on Wednesday, hitting $31.23. 205,763 shares of the stock were exchanged. Mimecast Limited has a 1-year low of $16.75 and a 1-year high of $32.00. The stock has a 50 day moving average price of $29.55 and a 200 day moving average price of $27.24. The company’s market capitalization is $1.77 billion.

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 analysts’ consensus estimates 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 company had revenue of $58.16 million for the quarter, compared to analysts’ expectations of $54.96 million. During the same period last year, the business earned $0.04 EPS. Mimecast Limited’s quarterly revenue was up 40.3% compared to the same quarter last year. On average, equities analysts anticipate that Mimecast Limited will post $0.06 earnings per share for the current fiscal year.

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Several institutional investors have recently made changes to their positions in the company. Peregrine Capital Management LLC increased its position in shares of Mimecast Limited by 3.5% during the 3rd quarter. Peregrine Capital Management LLC now owns 573,886 shares of the technology company’s stock valued at $16,310,000 after purchasing an additional 19,409 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Mimecast Limited during the 3rd quarter valued at $4,751,000. Verition Fund Management LLC purchased a new stake in shares of Mimecast Limited during the 2nd quarter valued at $805,000. Castleark Management LLC increased its position in shares of Mimecast Limited by 46.9% during the 2nd quarter. Castleark Management LLC now owns 325,403 shares of the technology company’s stock valued at $8,714,000 after purchasing an additional 103,948 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in shares of Mimecast Limited during the 2nd quarter valued at $502,000. 52.84% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for Mimecast Limited (NASDAQ:MIME)

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