Wall Street analysts predict that Mimecast Ltd (NASDAQ:MIME) will announce sales of $97.37 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Mimecast’s earnings. The lowest sales estimate is $97.00 million and the highest is $98.40 million. Mimecast reported sales of $78.40 million during the same quarter last year, which would suggest a positive year over year growth rate of 24.2%. The business is scheduled to issue its next earnings report on Thursday, August 8th.
According to Zacks, analysts expect that Mimecast will report full year sales of $421.13 million for the current financial year, with estimates ranging from $419.79 million to $423.98 million. For the next fiscal year, analysts expect that the firm will report sales of $508.77 million, with estimates ranging from $503.50 million to $517.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Mimecast.
Mimecast (NASDAQ:MIME) last posted its quarterly earnings data on Monday, May 13th. The technology company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). The firm had revenue of $92.20 million for the quarter, compared to the consensus estimate of $91.34 million. Mimecast had a negative net margin of 2.06% and a negative return on equity of 2.72%. The business’s revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) earnings per share.
Several analysts have weighed in on the company. BidaskClub cut Mimecast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 14th. ValuEngine cut Mimecast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 14th. Imperial Capital reissued an “outperform” rating and issued a $55.00 price target (up from $52.00) on shares of Mimecast in a research report on Tuesday, May 14th. Bank of America started coverage on Mimecast in a research report on Friday, April 12th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, BMO Capital Markets boosted their price target on Mimecast from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Mimecast presently has an average rating of “Buy” and an average price target of $54.31.
Mimecast stock opened at $44.68 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.75. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -638.29, a PEG ratio of 26.00 and a beta of 1.23. Mimecast has a fifty-two week low of $29.67 and a fifty-two week high of $54.57.
In other Mimecast news, CEO Peter Bauer sold 18,750 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $46.84, for a total transaction of $878,250.00. Following the completion of the sale, the chief executive officer now directly owns 46,000 shares in the company, valued at approximately $2,154,640. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Neil Murray sold 25,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $46.65, for a total transaction of $1,166,250.00. Following the sale, the insider now owns 2,307,665 shares of the company’s stock, valued at $107,652,572.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 278,746 shares of company stock valued at $13,072,636. 29.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Brown Advisory Inc. raised its stake in Mimecast by 17.3% during the 4th quarter. Brown Advisory Inc. now owns 2,792,107 shares of the technology company’s stock valued at $93,896,000 after buying an additional 411,403 shares during the last quarter. Whale Rock Capital Management LLC raised its stake in Mimecast by 22.6% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,990,748 shares of the technology company’s stock valued at $94,262,000 after buying an additional 367,062 shares during the last quarter. Renaissance Technologies LLC raised its stake in Mimecast by 12.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,840,500 shares of the technology company’s stock valued at $87,148,000 after buying an additional 199,800 shares during the last quarter. FMR LLC raised its stake in Mimecast by 17.1% during the 1st quarter. FMR LLC now owns 1,320,416 shares of the technology company’s stock valued at $62,522,000 after buying an additional 193,185 shares during the last quarter. Finally, SQN Investors LP purchased a new stake in Mimecast during the 1st quarter valued at $48,064,000. Institutional investors and hedge funds own 71.70% of the company’s stock.
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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