Wall Street brokerages expect Mimecast Ltd (NASDAQ:MIME) to post sales of $64.73 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Mimecast’s earnings. The lowest sales estimate is $64.53 million and the highest is $65.00 million. Mimecast posted sales of $48.33 million in the same quarter last year, which would indicate a positive year over year growth rate of 33.9%. The firm is expected to announce its next quarterly earnings results on Thursday, February 8th.

On average, analysts expect that Mimecast will report full-year sales of $64.73 million for the current year, with estimates ranging from $253.40 million to $254.40 million. For the next fiscal year, analysts forecast that the firm will report sales of $307.46 million per share, with estimates ranging from $295.00 million to $318.72 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Mimecast.

MIME has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 price objective (up from $33.00) on shares of Mimecast in a research note on Thursday, November 9th. Zacks Investment Research cut shares of Mimecast from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Oppenheimer reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Mimecast in a research note on Monday, December 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Mimecast in a research note on Tuesday, September 12th. Finally, BMO Capital Markets initiated coverage on shares of Mimecast in a research note on Friday. They issued an “outperform” rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $33.77.

Mimecast (MIME) opened at $31.56 on Friday. Mimecast has a 52 week low of $17.81 and a 52 week high of $32.00. The stock has a market cap of $1,810.00 and a P/E ratio of -185.65. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.32.

Several hedge funds and other institutional investors have recently made changes to their positions in MIME. American Century Companies Inc. bought a new position in shares of Mimecast during the second quarter worth $2,719,000. JPMorgan Chase & Co. boosted its position in shares of Mimecast by 96.0% during the second quarter. JPMorgan Chase & Co. now owns 34,302 shares of the technology company’s stock worth $919,000 after purchasing an additional 16,805 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Mimecast by 27.1% during the second quarter. Wells Fargo & Company MN now owns 24,600 shares of the technology company’s stock worth $659,000 after purchasing an additional 5,245 shares in the last quarter. New York State Common Retirement Fund bought a new position in shares of Mimecast during the second quarter worth $472,000. Finally, Northern Trust Corp boosted its position in shares of Mimecast by 71.7% during the second quarter. Northern Trust Corp now owns 36,315 shares of the technology company’s stock worth $973,000 after purchasing an additional 15,168 shares in the last quarter. 58.66% of the stock is currently owned by institutional investors.

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Mimecast 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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