Mimecast (MIME) Upgraded to Buy at Summit Insights

Mimecast (NASDAQ:MIME) was upgraded by Summit Insights from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, The Fly reports.

Several other research analysts have also recently commented on MIME. Jefferies Financial Group raised their target price on Mimecast to $55.00 and gave the stock a “buy” rating in a research report on Tuesday. Needham & Company LLC raised their target price on Mimecast from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday. Monness Crespi & Hardt raised their target price on Mimecast from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday. Wedbush reaffirmed a “neutral” rating and issued a $47.00 target price (up from $40.00) on shares of Mimecast in a research report on Tuesday. Finally, BMO Capital Markets raised their target price on Mimecast from $43.00 to $52.00 and gave the stock an “outperform” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Mimecast presently has a consensus rating of “Buy” and an average target price of $48.31.

Shares of Mimecast stock opened at $42.82 on Tuesday. The firm has a market capitalization of $2.54 billion, a PE ratio of -225.37 and a beta of 1.00. 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 has a 1 year low of $29.67 and a 1 year high of $46.87.

Mimecast (NASDAQ:MIME) last announced its quarterly earnings data on Monday, February 11th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. Mimecast had a negative net margin of 5.44% and a negative return on equity of 10.33%. On average, sell-side analysts anticipate that Mimecast will post -0.03 earnings per share for the current year.

In other Mimecast news, CFO Peter Andrew James Campbell sold 4,000 shares of Mimecast stock in a transaction 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 transaction, the chief financial officer now directly owns 224,000 shares of the company’s stock, valued at $7,866,880. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Bauer sold 7,500 shares of Mimecast stock in a transaction 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 transaction, the chief executive officer now directly owns 101,250 shares of the company’s stock, valued at $3,543,750. The disclosure for this sale can be found here. Over the last three months, insiders have sold 252,409 shares of company stock valued at $9,019,116. Company insiders own 29.00% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Standard Life Aberdeen plc acquired a new stake in shares of Mimecast in the fourth quarter valued at $246,000. Pier 88 Investment Partners LLC increased its stake in shares of Mimecast by 39.7% in the fourth quarter. Pier 88 Investment Partners LLC now owns 16,880 shares of the technology company’s stock valued at $568,000 after buying an additional 4,800 shares in the last quarter. Raymond James & Associates increased its stake in shares of Mimecast by 15.0% in the fourth quarter. Raymond James & Associates now owns 9,816 shares of the technology company’s stock valued at $330,000 after buying an additional 1,278 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Mimecast by 70.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,797 shares of the technology company’s stock valued at $1,910,000 after buying an additional 23,453 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Mimecast by 936.0% in the fourth quarter. BlackRock Inc. now owns 97,782 shares of the technology company’s stock valued at $3,288,000 after buying an additional 88,344 shares in the last quarter. Institutional investors own 71.42% of the company’s stock.

Mimecast Company Profile

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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Analyst Recommendations for Mimecast (NASDAQ:MIME)

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