Mimecast Limited (NASDAQ:MIME) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Mimecast Limited offers cloud security and risk management services for corporate information and email primarily in the United States, the United Kingdom and South Africa. The Company offers email management services that protect the organization against spam, viruses, malware, emerging threats, and other challenges. Mimecast Limited is headquartered in London, the United Kingdom. “
MIME has been the subject of a number of other research reports. BidaskClub raised shares of Mimecast Limited from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Benchmark Co. upped their price objective on shares of Mimecast Limited from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Monness Crespi & Hardt assumed coverage on shares of Mimecast Limited in a research report on Thursday, April 6th. They set a “neutral” rating for the company. Finally, Summit Redstone reaffirmed a “buy” rating and set a $30.00 price objective on shares of Mimecast Limited in a research report on Thursday, April 13th. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $27.80.
Mimecast Limited (NASDAQ:MIME) opened at 26.95 on Tuesday. The stock’s 50 day moving average is $26.54 and its 200-day moving average is $22.39. The company’s market capitalization is $1.52 billion. Mimecast Limited has a 12-month low of $9.64 and a 12-month high of $29.48.
Mimecast Limited (NASDAQ:MIME) last announced its earnings results on Tuesday, May 9th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.05). The company had revenue of $52.40 million during the quarter, compared to analysts’ expectations of $52.12 million. Mimecast Limited had a negative net margin of 2.92% and a negative return on equity of 6.82%. The business’s revenue was up 42.0% on a year-over-year basis. On average, equities analysts predict that Mimecast Limited will post $0.06 earnings per share for the current fiscal year.
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Several institutional investors have recently bought and sold shares of MIME. Allianz Asset Management AG acquired a new position in Mimecast Limited during the fourth quarter worth about $710,000. Renaissance Technologies LLC boosted its position in Mimecast Limited by 30.7% in the fourth quarter. Renaissance Technologies LLC now owns 381,900 shares of the technology company’s stock worth $6,836,000 after buying an additional 89,600 shares during the last quarter. USA Financial Portformulas Corp acquired a new position in Mimecast Limited during the fourth quarter worth about $454,000. Macquarie Group Ltd. boosted its position in Mimecast Limited by 69.0% in the fourth quarter. Macquarie Group Ltd. now owns 57,537 shares of the technology company’s stock worth $1,030,000 after buying an additional 23,486 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its position in Mimecast Limited by 7.5% in the first quarter. Peregrine Capital Management LLC now owns 694,917 shares of the technology company’s stock worth $15,142,000 after buying an additional 48,248 shares during the last quarter. Hedge funds and other institutional investors own 48.05% of the company’s stock.
About Mimecast Limited
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.
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