Mimecast (MIME) Releases Earnings Results, Beats Expectations By $0.03 EPS

Mimecast (NASDAQ:MIME) released its quarterly earnings results on Thursday. The technology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03, Morningstar.com reports. The business had revenue of $82.17 million for the quarter, compared to analysts’ expectations of $80.77 million. Mimecast had a negative return on equity of 11.41% and a negative net margin of 5.55%. The company’s quarterly revenue was up 30.2% on a year-over-year basis. Mimecast updated its Q3 2019 guidance to EPS and its FY 2019 guidance to EPS.

Shares of NASDAQ:MIME opened at $35.77 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.41 and a quick ratio of 1.41. Mimecast has a one year low of $26.50 and a one year high of $46.87.

A number of research firms recently weighed in on MIME. Zacks Investment Research upgraded Mimecast from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. BidaskClub upgraded Mimecast from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. Monness Crespi & Hardt upgraded Mimecast from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Thursday, September 13th. BMO Capital Markets lowered their price target on Mimecast from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Friday, August 10th. Finally, JPMorgan Chase & Co. upped their price target on Mimecast from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $45.23.

In other Mimecast news, CFO Peter Andrew James Campbell sold 4,000 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of $41.88, for a total transaction of $167,520.00. Following the sale, the chief financial officer now owns 224,000 shares in the company, valued at approximately $9,381,120. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John J. Walsh, Jr. sold 10,000 shares of the stock in a transaction on Monday, August 20th. The shares were sold at an average price of $38.50, for a total value of $385,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 262,584 shares of company stock worth $10,211,245. 29.00% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the business. Insight Holdings Group LLC purchased a new position in shares of Mimecast during the 2nd quarter worth $391,814,000. Brown Advisory Inc. lifted its stake in shares of Mimecast by 0.9% during the 2nd quarter. Brown Advisory Inc. now owns 2,023,954 shares of the technology company’s stock worth $83,408,000 after purchasing an additional 17,156 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Mimecast by 11.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,411,890 shares of the technology company’s stock worth $58,184,000 after purchasing an additional 147,590 shares during the period. FMR LLC lifted its stake in shares of Mimecast by 5.8% during the 3rd quarter. FMR LLC now owns 1,352,266 shares of the technology company’s stock worth $56,632,000 after purchasing an additional 73,573 shares during the period. Finally, Whale Rock Capital Management LLC lifted its stake in shares of Mimecast by 46.5% during the 2nd quarter. Whale Rock Capital Management LLC now owns 1,206,131 shares of the technology company’s stock worth $49,705,000 after purchasing an additional 382,777 shares during the period. Hedge funds and other institutional investors own 65.89% of the company’s stock.

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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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Earnings History for Mimecast (NASDAQ:MIME)

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