Mimecast (MIME) Given New $52.00 Price Target at BMO Capital Markets

Mimecast (NASDAQ:MIME) had its target price lifted by stock analysts at BMO Capital Markets from $43.00 to $52.00 in a research report issued on Tuesday, The Fly reports. The firm presently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ price target indicates a potential upside of 1.38% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Summit Insights downgraded shares of Mimecast from a “buy” rating to a “hold” rating in a research note on Monday, October 29th. BidaskClub downgraded shares of Mimecast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 18th. Wedbush initiated coverage on shares of Mimecast in a research note on Thursday, December 6th. They set a “neutral” rating and a $40.00 target price for the company. ValuEngine downgraded shares of Mimecast from a “buy” rating to a “hold” rating in a research note on Wednesday, December 5th. Finally, Robert W. Baird initiated coverage on shares of Mimecast in a research note on Wednesday, October 17th. They set an “outperform” rating and a $45.00 target price for the company. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $48.31.

Shares of MIME stock traded up $8.47 during mid-day trading on Tuesday, hitting $51.29. 1,245,731 shares of the stock were exchanged, compared to its average volume of 400,232. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -269.95 and a beta of 1.00. Mimecast has a 12-month low of $29.67 and a 12-month high of $46.87. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.28 and a current ratio of 1.28.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings data on Monday, February 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.04). The firm had revenue of $87.61 million for the quarter, compared to analysts’ expectations of $84.80 million. Mimecast had a negative return on equity of 10.33% and a negative net margin of 5.44%. As a group, research analysts predict that Mimecast will post -0.03 EPS for the current year.

In other Mimecast news, CEO Peter Bauer sold 7,500 shares of Mimecast stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $35.00, for a total value of $262,500.00. Following the completion of the sale, the chief executive officer now directly owns 101,250 shares of the company’s stock, valued at approximately $3,543,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Peter Andrew James Campbell sold 4,000 shares of Mimecast stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $35.12, for a total transaction of $140,480.00. Following the completion of the sale, the chief financial officer now directly owns 224,000 shares of the company’s stock, valued at $7,866,880. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 252,409 shares of company stock valued at $9,019,116. Insiders own 29.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. acquired a new position in shares of Mimecast in the 4th quarter valued at $72,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Mimecast by 131.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,661 shares of the technology company’s stock valued at $110,000 after purchasing an additional 1,511 shares during the last quarter. Simplex Trading LLC acquired a new position in shares of Mimecast in the 3rd quarter valued at $183,000. First Republic Investment Management Inc. acquired a new position in shares of Mimecast in the 3rd quarter valued at $203,000. Finally, PEAK6 Investments LLC acquired a new position in shares of Mimecast in the 3rd quarter valued at $210,000. Institutional investors own 71.42% of the company’s stock.

About Mimecast

Mimecast Limited, a email and data security company, provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security services, including targeted threat protection services, such as URL Protect that addresses the threat from emails containing malicious links; Attachment Protect that reduces threat from weaponized or malware-laden attachments used in spear-phishing and other attacks; Impersonation Protect that gives protection from malware-less social engineering attacks; and Internal Email Protect, which allows customers to monitor, detect, and remediate security threats that originate from within their internal email systems.

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