Mimecast (NASDAQ:MIME) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Mimecast (NASDAQ:MIME) from a hold rating to a buy rating in a research report released on Friday, BidAskClub reports.

MIME has been the topic of a number of other research reports. ValuEngine lowered Mimecast from a strong-buy rating to a buy rating in a report on Tuesday, May 14th. Imperial Capital reissued an outperform rating and set a $55.00 price objective (up previously from $52.00) on shares of Mimecast in a report on Tuesday, May 14th. Bank of America assumed coverage on Mimecast in a report on Friday, April 12th. They set a buy rating and a $60.00 price objective on the stock. BMO Capital Markets increased their price objective on Mimecast from $52.00 to $55.00 and gave the company an outperform rating in a report on Tuesday, May 14th. Finally, Cowen assumed coverage on Mimecast in a report on Thursday, May 23rd. They set an outperform rating and a $60.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $54.31.

Shares of NASDAQ MIME opened at $45.13 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -644.71, a price-to-earnings-growth ratio of 56.52 and a beta of 1.23. The firm’s 50-day moving average is $46.55. Mimecast has a 52 week low of $29.67 and a 52 week high of $54.57.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings data on Monday, May 13th. The technology company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.02). The company had revenue of $92.20 million for the quarter, compared to analyst estimates of $91.34 million. Mimecast had a negative net margin of 2.06% and a negative return on equity of 2.72%. The business’s revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) EPS. As a group, analysts predict that Mimecast will post 0.04 earnings per share for the current year.

In other Mimecast news, COO Edward Vincent Jennings sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $44.12, for a total value of $485,320.00. Following the sale, the chief operating officer now owns 12,251 shares of the company’s stock, valued at approximately $540,514.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neil Murray sold 235,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $45.98, for a total value of $10,805,300.00. Following the completion of the sale, the director now owns 2,139,188 shares of the company’s stock, valued at approximately $98,359,864.24. The disclosure for this sale can be found here. Insiders sold a total of 469,996 shares of company stock worth $21,833,436 in the last ninety days. Insiders own 29.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. purchased a new stake in shares of Mimecast in the 3rd quarter valued at $368,000. Advisors Asset Management Inc. boosted its holdings in shares of Mimecast by 31.6% in the 4th quarter. Advisors Asset Management Inc. now owns 9,941 shares of the technology company’s stock valued at $334,000 after acquiring an additional 2,387 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Mimecast by 1,011.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 245,636 shares of the technology company’s stock valued at $8,260,000 after acquiring an additional 223,526 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of Mimecast in the 4th quarter valued at $501,000. Finally, GW&K Investment Management LLC boosted its holdings in shares of Mimecast by 1.8% in the 4th quarter. GW&K Investment Management LLC now owns 214,409 shares of the technology company’s stock valued at $7,211,000 after acquiring an additional 3,843 shares during the last quarter. Institutional investors own 71.70% 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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