Mimecast (MIME) Stock Rating Upgraded by BidaskClub

Mimecast (NASDAQ:MIME) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

Several other research analysts have also recently commented on MIME. BMO Capital Markets decreased their target price on shares of Mimecast from $48.00 to $47.00 and set an “outperform” rating for the company in a report on Friday, August 10th. JPMorgan Chase & Co. raised their target price on shares of Mimecast from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. Deutsche Bank raised their target price on shares of Mimecast to $50.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Zacks Investment Research cut shares of Mimecast from a “hold” rating to a “sell” rating in a report on Thursday, August 16th. Finally, Monness Crespi & Hardt upgraded shares of Mimecast from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a report on Thursday, September 13th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Mimecast currently has an average rating of “Buy” and an average price target of $45.17.

Shares of MIME opened at $37.23 on Friday. Mimecast has a one year low of $26.50 and a one year high of $46.87. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -195.95 and a beta of 0.82. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.20.

Mimecast (NASDAQ:MIME) last announced its earnings results on Thursday, November 8th. The technology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. Mimecast had a negative net margin of 5.44% and a negative return on equity of 10.33%. The company had revenue of $82.17 million during the quarter, compared to analysts’ expectations of $80.77 million. The firm’s revenue was up 30.2% on a year-over-year basis. As a group, analysts anticipate that Mimecast will post -0.03 earnings per share for the current fiscal year.

In related news, CEO Peter Bauer sold 11,250 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $41.75, for a total transaction of $469,687.50. Following the completion of the sale, the chief executive officer now directly owns 112,500 shares in the company, valued at $4,696,875. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher Fitzgerald sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $40.98, for a total transaction of $245,880.00. Following the sale, the director now owns 27,821 shares of the company’s stock, valued at $1,140,104.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,090 shares of company stock valued at $6,144,137. 29.00% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of MIME. BlackRock Inc. boosted its holdings in shares of Mimecast by 309.7% during the first quarter. BlackRock Inc. now owns 22,453 shares of the technology company’s stock worth $796,000 after purchasing an additional 16,972 shares during the period. Allianz Asset Management GmbH raised its position in Mimecast by 21.1% during the first quarter. Allianz Asset Management GmbH now owns 17,740 shares of the technology company’s stock valued at $629,000 after acquiring an additional 3,085 shares in the last quarter. Acadian Asset Management LLC bought a new position in Mimecast during the second quarter valued at approximately $1,928,000. Raymond James Financial Services Advisors Inc. bought a new position in Mimecast during the second quarter valued at approximately $215,000. Finally, First Trust Advisors LP raised its position in Mimecast by 40.5% during the second quarter. First Trust Advisors LP now owns 306,674 shares of the technology company’s stock valued at $12,638,000 after acquiring an additional 88,424 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

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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Analyst Recommendations for Mimecast (NASDAQ:MIME)

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