Barclays Raises Mimecast (MIME) Price Target to $36.00

Mimecast (NASDAQ:MIME) had its target price upped by stock analysts at Barclays from $34.00 to $36.00 in a research note issued on Tuesday. The firm currently has an “overweight” rating on the technology company’s stock. Barclays’ target price would indicate a potential upside of 8.37% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Needham & Company LLC lifted their target price on shares of Mimecast from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday. BMO Capital Markets boosted their target price on shares of Mimecast from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday. BidaskClub cut shares of Mimecast from a “buy” rating to a “hold” rating in a research note on Saturday, January 20th. Deutsche Bank assumed coverage on shares of Mimecast in a research note on Tuesday, December 19th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, Oppenheimer reissued a “buy” rating and issued a $35.00 target price on shares of Mimecast in a research report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. Mimecast currently has an average rating of “Buy” and an average target price of $35.91.

Mimecast (NASDAQ MIME) traded up $1.35 during mid-day trading on Tuesday, hitting $33.22. 430,000 shares of the company’s stock traded hands, compared to its average volume of 291,776. The stock has a market capitalization of $1,826.77, a P/E ratio of -207.63 and a beta of 0.47. Mimecast has a 52-week low of $19.12 and a 52-week high of $35.05. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.42.

Mimecast (NASDAQ:MIME) last issued its earnings results on Monday, February 12th. The technology company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. Mimecast had a negative net margin of 4.16% and a negative return on equity of 11.28%. The company had revenue of $67.30 million for the quarter, compared to the consensus estimate of $64.92 million. Mimecast’s revenue was up 39.3% on a year-over-year basis. equities analysts forecast that Mimecast will post -0.16 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of MIME. JPMorgan Chase & Co. boosted its stake in Mimecast by 96.0% in the 2nd 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 during the period. Wells Fargo & Company MN boosted its stake in Mimecast by 27.1% in the 2nd 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 during the period. New York State Common Retirement Fund bought a new position in Mimecast in the 2nd quarter worth approximately $472,000. Northern Trust Corp boosted its stake in Mimecast by 71.7% in the 2nd 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 during the period. Finally, FMR LLC bought a new position in Mimecast in the 2nd quarter worth approximately $7,983,000. Institutional investors and hedge funds own 58.73% of the company’s stock.

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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.

Analyst Recommendations for Mimecast (NASDAQ:MIME)

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