Mimecast (NASDAQ:MIME) Given Neutral Rating at Wedbush

Wedbush restated their neutral rating on shares of Mimecast (NASDAQ:MIME) in a research note released on Friday, RTT News reports. They currently have a $50.00 price target on the technology company’s stock.

MIME has been the topic of a number of other reports. Imperial Capital reissued an outperform rating and issued a $55.00 price target (up from $52.00) on shares of Mimecast in a report on Tuesday, May 14th. BMO Capital Markets set a $13.00 price target on shares of Vale and gave the stock a hold rating in a report on Tuesday, May 14th. BidaskClub downgraded shares of Utah Medical Products from a hold rating to a sell rating in a report on Monday, July 8th. Bank of America set a $144.00 price target on shares of Walt Disney and gave the stock a buy rating in a report on Friday, April 12th. Finally, Berenberg Bank reaffirmed a buy rating and set a GBX 3,600 ($47.04) price objective on shares of in a report on Friday, May 31st. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $54.31.

Shares of NASDAQ:MIME opened at $48.30 on Friday. The business has a 50-day moving average of $46.59. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.75. The stock has a market cap of $2.96 billion, a P/E ratio of -690.00, a P/E/G ratio of 58.46 and a beta of 1.13. Mimecast has a fifty-two week low of $29.67 and a fifty-two week high of $54.57.

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

In other news, CEO Peter Bauer sold 18,750 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $46.87, for a total value of $878,812.50. Following the sale, the chief executive officer now directly owns 33,500 shares of the company’s stock, valued at $1,570,145. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Edward Vincent Jennings sold 11,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $49.11, for a total transaction of $540,210.00. Following the completion of the sale, the chief operating officer now directly owns 12,251 shares in the company, valued at $601,646.61. The disclosure for this sale can be found here. Over the last three months, insiders sold 479,996 shares of company stock worth $22,323,216. Insiders own 29.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. First Mercantile Trust Co. increased its position in shares of Mimecast by 223.4% in the first quarter. First Mercantile Trust Co. now owns 1,035 shares of the technology company’s stock worth $49,000 after purchasing an additional 715 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Mimecast in the first quarter worth approximately $49,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Mimecast in the second quarter worth approximately $79,000. NumerixS Investment Technologies Inc increased its position in shares of Mimecast by 19.5% in the first quarter. NumerixS Investment Technologies Inc now owns 2,390 shares of the technology company’s stock worth $114,000 after purchasing an additional 390 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new position in shares of Mimecast in the first quarter worth approximately $188,000. 71.75% of the stock is currently owned by hedge funds and other institutional investors.

Mimecast Company Profile

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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