Mimecast (MIME) Lowered to “Hold” at BidaskClub

Mimecast (NASDAQ:MIME) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other equities analysts also recently issued reports on MIME. Zacks Investment Research downgraded Mimecast from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Royal Bank of Canada reiterated a “buy” rating and issued a $33.00 price objective on shares of Mimecast in a research report on Wednesday, October 18th. Dougherty & Co lifted their price objective on Mimecast from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Oppenheimer reiterated a “buy” rating and issued a $35.00 price objective (up previously from $32.00) on shares of Mimecast in a research report on Thursday, November 9th. Finally, Barclays lifted their price objective on Mimecast from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. Mimecast presently has an average rating of “Buy” and a consensus target price of $34.33.

Shares of Mimecast (NASDAQ:MIME) opened at $32.74 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market capitalization of $1,853.71, a price-to-earnings ratio of -204.63 and a beta of 0.48. Mimecast has a one year low of $19.12 and a one year high of $33.05.

Mimecast (NASDAQ:MIME) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. Mimecast had a negative return on equity of 11.28% and a negative net margin of 4.16%. equities analysts forecast that Mimecast will post -0.16 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in MIME. JPMorgan Chase & Co. raised 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 acquiring an additional 16,805 shares during the last quarter. Wells Fargo & Company MN raised 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 acquiring an additional 5,245 shares during the last quarter. New York State Common Retirement Fund bought a new stake in shares of Mimecast during the second quarter worth $472,000. Northern Trust Corp raised 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 acquiring an additional 15,168 shares during the last quarter. Finally, FMR LLC bought a new stake in shares of Mimecast during the second quarter worth $7,983,000. Institutional investors own 58.66% of the company’s stock.

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About Mimecast

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 (NASDAQ:MIME)

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