Cubist Systematic Strategies LLC purchased a new position in Mimecast Limited (NASDAQ:MIME) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,812 shares of the technology company’s stock, valued at approximately $290,000.
A number of other hedge funds have also made changes to their positions in MIME. ETF Managers Group LLC purchased a new stake in Mimecast Limited in the second quarter worth $17,278,000. Frontier Capital Management Co. LLC purchased a new stake in Mimecast Limited in the second quarter worth $11,326,000. Columbus Circle Investors lifted its stake in Mimecast Limited by 88.6% in the second quarter. Columbus Circle Investors now owns 728,762 shares of the technology company’s stock worth $19,516,000 after acquiring an additional 342,405 shares during the period. Renaissance Technologies LLC lifted its stake in Mimecast Limited by 83.0% in the second quarter. Renaissance Technologies LLC now owns 684,600 shares of the technology company’s stock worth $18,334,000 after acquiring an additional 310,500 shares during the period. Finally, FMR LLC purchased a new stake in Mimecast Limited in the second quarter worth $7,983,000. 52.84% of the stock is owned by institutional investors.
A number of brokerages recently commented on MIME. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 price target on shares of Mimecast Limited in a research note on Tuesday, September 12th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $32.00 price objective (up previously from $27.00) on shares of Mimecast Limited in a research report on Tuesday, August 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $33.00 price objective (up previously from $30.00) on shares of Mimecast Limited in a research report on Tuesday, August 8th. BidaskClub lowered Mimecast Limited from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Barclays PLC raised their price objective on Mimecast Limited from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $31.08.
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Mimecast Limited (NASDAQ:MIME) opened at 31.22 on Monday. Mimecast Limited has a 12 month low of $16.75 and a 12 month high of $31.94. The stock’s market cap is $1.77 billion. The firm’s 50-day moving average price is $29.28 and its 200 day moving average price is $27.08.
Mimecast Limited (NASDAQ:MIME) last issued its earnings results on Monday, August 7th. The technology company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. Mimecast Limited had a negative return on equity of 9.67% and a negative net margin of 3.73%. The business had revenue of $58.16 million during the quarter, compared to analysts’ expectations of $54.96 million. During the same period in the prior year, the business earned $0.04 EPS. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. On average, analysts anticipate that Mimecast Limited will post $0.06 earnings per share for the current year.
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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