Mimecast (MIME) Rating Reiterated by Royal Bank of Canada

Mimecast (NASDAQ:MIME)‘s stock had its “buy” rating reiterated by Royal Bank of Canada in a research report issued to clients and investors on Tuesday. They presently have a $38.00 price objective on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 14.39% from the stock’s current price.

Several other analysts have also recently issued reports on MIME. Dougherty & Co upped their target price on Mimecast from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, November 6th. Oppenheimer restated a “buy” rating and issued a $35.00 target price (up from $32.00) on shares of Mimecast in a report on Thursday, November 9th. Barclays upped their target price on Mimecast from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, November 9th. Jefferies Group restated a “buy” rating and issued a $38.00 target price on shares of Mimecast in a report on Friday, November 10th. Finally, Zacks Investment Research cut Mimecast from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $36.00.

Shares of Mimecast (MIME) traded up $1.35 during trading hours on Tuesday, reaching $33.22. The company’s stock had a trading volume of 430,000 shares, compared to its average volume of 318,317. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1,826.77, a PE ratio of -207.63 and a beta of 0.47. Mimecast has a 12 month low of $19.12 and a 12 month high of $35.05.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Peregrine Capital Management LLC grew its holdings in shares of Mimecast by 0.6% during the 4th quarter. Peregrine Capital Management LLC now owns 577,305 shares of the technology company’s stock worth $16,551,000 after purchasing an additional 3,419 shares during the period. Invictus RG purchased a new position in shares of Mimecast during the 3rd quarter worth $143,000. American Century Companies Inc. grew its holdings in shares of Mimecast by 2.8% during the 4th quarter. American Century Companies Inc. now owns 193,162 shares of the technology company’s stock worth $5,538,000 after purchasing an additional 5,187 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Mimecast by 27.1% during 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. Finally, Bank of New York Mellon Corp grew its holdings in shares of Mimecast by 1.6% during the 4th quarter. Bank of New York Mellon Corp now owns 391,621 shares of the technology company’s stock worth $11,229,000 after purchasing an additional 6,041 shares during the period. Institutional investors and hedge funds own 58.73% 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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