Mimecast (NASDAQ:MIME) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Mimecast (NASDAQ:MIME) from a hold rating to a sell rating in a research report report published on Tuesday morning, BidAskClub reports.

A number of other research analysts also recently issued reports on the company. Robert W. Baird set a $58.00 price target on Mimecast and gave the company a buy rating in a report on Sunday, September 15th. Berenberg Bank assumed coverage on Mimecast in a report on Friday, May 31st. They issued a buy rating and a $59.00 price target for the company. ValuEngine downgraded Mimecast from a buy rating to a hold rating in a report on Monday, August 12th. Rosenblatt Securities assumed coverage on Mimecast in a report on Wednesday, August 21st. They issued a buy rating and a $57.00 price target for the company. Finally, Cowen assumed coverage on Mimecast in a report on Thursday, May 23rd. They issued an outperform rating and a $60.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $55.67.

Mimecast stock opened at $37.76 on Tuesday. Mimecast has a 52 week low of $29.67 and a 52 week high of $54.57. The stock has a 50-day moving average price of $42.02 and a 200 day moving average price of $46.11. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.49.

Mimecast (NASDAQ:MIME) last announced its quarterly earnings results on Monday, August 5th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $99.23 million during the quarter, compared to the consensus estimate of $97.32 million. During the same period in the previous year, the company posted $0.04 earnings per share. Mimecast’s revenue for the quarter was up 26.6% on a year-over-year basis. Research analysts anticipate that Mimecast will post 0.05 EPS for the current year.

In other news, Director Neil Murray sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $42.85, for a total value of $6,427,500.00. Following the completion of the sale, the director now directly owns 1,844,865 shares in the company, valued at $79,052,465.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Edward Vincent Jennings sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $38.55, for a total value of $424,050.00. Following the completion of the sale, the chief operating officer now owns 12,251 shares of the company’s stock, valued at $472,276.05. The disclosure for this sale can be found here. Insiders sold 433,882 shares of company stock valued at $18,823,408 over the last 90 days. Company insiders own 11.60% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Mimecast in the second quarter valued at approximately $32,000. First Mercantile Trust Co. increased its position in shares of Mimecast by 223.4% during 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 in the last quarter. Marshall Wace LLP purchased a new stake in shares of Mimecast during the first quarter worth approximately $49,000. Advisor Group Inc. increased its position 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 worth $64,000 after purchasing an additional 379 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Mimecast during the second quarter worth approximately $79,000. Institutional investors and hedge funds own 71.53% of the company’s stock.

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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