Mimecast (NASDAQ:MIME) Now Covered by Analysts at Rosenblatt Securities

Rosenblatt Securities began coverage on shares of Mimecast (NASDAQ:MIME) in a research note issued to investors on Wednesday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $57.00 price objective on the technology company’s stock.

Several other research firms also recently weighed in on MIME. Imperial Capital reaffirmed an outperform rating and set a $55.00 price target (up previously from $52.00) on shares of Mimecast in a research note on Tuesday, May 14th. BidaskClub downgraded shares of Mimecast from a buy rating to a hold rating in a research note on Wednesday, August 14th. Needham & Company LLC reaffirmed a buy rating and set a $65.00 price target (up previously from $52.00) on shares of Mimecast in a research note on Monday, May 6th. ValuEngine downgraded shares of Mimecast from a buy rating to a hold rating in a research note on Monday, August 12th. Finally, Cowen started coverage on shares of Mimecast in a research note on Thursday, May 23rd. They set an outperform rating and a $60.00 price target for the company. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $55.56.

Shares of NASDAQ:MIME opened at $42.53 on Wednesday. Mimecast has a 1 year low of $29.67 and a 1 year high of $54.57. The business has a 50 day simple moving average of $46.38 and a two-hundred day simple moving average of $46.92. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.20 and a current ratio of 1.20.

Mimecast (NASDAQ:MIME) last announced its earnings results on Monday, August 5th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.11. Mimecast had a negative return on equity of 2.63% and a negative net margin of 2.09%. The business had revenue of $99.23 million during the quarter, compared to analyst estimates of $97.32 million. During the same quarter in the previous year, the business earned $0.04 earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, equities research analysts predict that Mimecast will post 0.05 EPS for the current fiscal year.

In other news, CEO Peter Bauer sold 18,750 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $45.64, for a total transaction of $855,750.00. Following the transaction, the chief executive officer now directly owns 12,253 shares of the company’s stock, valued at $559,226.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Edward Vincent Jennings sold 11,000 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 12,251 shares in the company, valued at $540,514.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 431,382 shares of company stock worth $19,679,278. Insiders own 11.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Roundview Capital LLC grew its holdings in shares of Mimecast by 1.3% during the first quarter. Roundview Capital LLC now owns 20,836 shares of the technology company’s stock valued at $987,000 after buying an additional 275 shares during the last quarter. Zions Bancorporation N.A. grew its holdings in shares of Mimecast by 6.7% during the first quarter. Zions Bancorporation N.A. now owns 4,844 shares of the technology company’s stock valued at $229,000 after buying an additional 305 shares during the last quarter. Advisor Group Inc. grew its holdings in shares of Mimecast by 39.1% during the second quarter. Advisor Group Inc. now owns 1,349 shares of the technology company’s stock valued at $64,000 after buying an additional 379 shares during the last quarter. NumerixS Investment Technologies Inc grew its holdings in shares of Mimecast by 19.5% during the first quarter. NumerixS Investment Technologies Inc now owns 2,390 shares of the technology company’s stock valued at $114,000 after buying an additional 390 shares during the last quarter. Finally, Juncture Wealth Strategies LLC grew its holdings in shares of Mimecast by 4.7% during the second quarter. Juncture Wealth Strategies LLC now owns 11,605 shares of the technology company’s stock valued at $542,000 after buying an additional 520 shares during the last quarter. 69.48% 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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