Jefferies Financial Group Increases Mimecast (MIME) Price Target to $55.00

Mimecast (NASDAQ:MIME) had its price objective lifted by Jefferies Financial Group to $55.00 in a report published on Tuesday, The Fly reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other equities research analysts also recently issued reports on the company. Summit Insights downgraded Mimecast from a buy rating to a hold rating in a research report on Monday, October 29th. BidaskClub downgraded Mimecast from a strong-buy rating to a buy rating in a research report on Tuesday, December 18th. Wedbush initiated coverage on Mimecast in a research report on Thursday, December 6th. They set a neutral rating and a $40.00 price target on the stock. ValuEngine downgraded Mimecast from a buy rating to a hold rating in a research report on Wednesday, December 5th. Finally, Robert W. Baird initiated coverage on Mimecast in a research report on Wednesday, October 17th. They set an outperform rating and a $45.00 price target on the stock. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Mimecast has an average rating of Buy and an average price target of $49.79.

Shares of NASDAQ:MIME opened at $48.69 on Tuesday. The company has a market cap of $2.54 billion, a P/E ratio of -256.26 and a beta of 1.00. Mimecast has a 1 year low of $29.67 and a 1 year high of $51.66. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.28 and a current ratio of 1.28.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings results on Monday, February 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.04). The company had revenue of $87.61 million for the quarter, compared to analyst estimates of $84.80 million. Mimecast had a negative return on equity of 10.33% and a negative net margin of 5.44%. On average, analysts anticipate that Mimecast will post -0.03 EPS for the current fiscal year.

In other Mimecast news, insider Neil Murray sold 25,000 shares of the firm’s stock in a transaction on Friday, November 23rd. The stock was sold at an average price of $35.58, for a total value of $889,500.00. Following the sale, the insider now owns 2,406,665 shares of the company’s stock, valued at approximately $85,629,140.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Peter Andrew James Campbell sold 92,706 shares of the firm’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $39.33, for a total value of $3,646,126.98. Following the completion of the sale, the chief financial officer now directly owns 215,000 shares in the company, valued at approximately $8,455,950. The disclosure for this sale can be found here. In the last ninety days, insiders sold 244,909 shares of company stock worth $8,756,616. Company insiders own 29.00% of the company’s stock.

Several hedge funds have recently modified their holdings of MIME. Scge Management L.P. acquired a new stake in shares of Mimecast in the 3rd quarter valued at $40,205,000. Wells Fargo & Company MN boosted its holdings in shares of Mimecast by 14,742.5% in the 3rd quarter. Wells Fargo & Company MN now owns 542,047 shares of the technology company’s stock valued at $22,701,000 after purchasing an additional 538,395 shares in the last quarter. Brown Advisory Inc. boosted its holdings in shares of Mimecast by 17.6% in the 3rd quarter. Brown Advisory Inc. now owns 2,380,704 shares of the technology company’s stock valued at $99,704,000 after purchasing an additional 356,750 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Mimecast in the 3rd quarter valued at $14,404,000. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Mimecast by 303.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 399,821 shares of the technology company’s stock valued at $16,745,000 after purchasing an additional 300,727 shares in the last quarter. 71.42% of the stock is currently owned by hedge funds and other institutional investors.

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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