Brokerages Anticipate Mimecast Limited (NASDAQ:MIME) Will Announce Earnings of $0.23 Per Share

Equities research analysts forecast that Mimecast Limited (NASDAQ:MIME) will report earnings of $0.23 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Mimecast’s earnings, with the highest EPS estimate coming in at $0.26 and the lowest estimate coming in at $0.21. Mimecast posted earnings of $0.15 per share during the same quarter last year, which suggests a positive year over year growth rate of 53.3%. The company is expected to report its next quarterly earnings results on Monday, May 10th.

According to Zacks, analysts expect that Mimecast will report full-year earnings of $1.10 per share for the current fiscal year, with EPS estimates ranging from $1.07 to $1.12. For the next financial year, analysts expect that the business will report earnings of $1.21 per share, with EPS estimates ranging from $1.15 to $1.33. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Mimecast.

Mimecast (NASDAQ:MIME) last posted its earnings results on Wednesday, February 3rd. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.09. Mimecast had a return on equity of 7.27% and a net margin of 3.44%. The business had revenue of $129.60 million during the quarter, compared to analysts’ expectations of $126.67 million. During the same period in the prior year, the business earned $0.14 EPS. Mimecast’s revenue for the quarter was up 17.6% compared to the same quarter last year.

A number of equities analysts recently weighed in on MIME shares. Stephens assumed coverage on shares of Mimecast in a research note on Monday, February 1st. They issued an “overweight” rating and a $57.00 target price for the company. Colliers Securities reduced their price objective on Mimecast from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, February 4th. Zacks Investment Research lowered Mimecast from a “buy” rating to a “sell” rating in a research report on Wednesday, April 7th. TheStreet downgraded Mimecast from a “b-” rating to a “c” rating in a research report on Tuesday, March 9th. Finally, Jefferies Financial Group downgraded shares of Mimecast from a “buy” rating to a “hold” rating and lifted their price objective for the company from $50.00 to $55.00 in a report on Monday, January 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $54.11.

In other news, insider John J. Walsh, Jr. sold 2,000 shares of the stock in a transaction that occurred on Friday, January 15th. The stock was sold at an average price of $45.50, for a total transaction of $91,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Peter Bauer sold 17,500 shares of Mimecast stock in a transaction that occurred on Friday, January 15th. The stock was sold at an average price of $44.13, for a total value of $772,275.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,500 shares of company stock worth $7,155,475. 9.50% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Winslow Evans & Crocker Inc. bought a new stake in Mimecast in the 4th quarter valued at about $34,000. Bainco International Investors acquired a new position in Mimecast in the 4th quarter valued at $46,000. Marshall Wace LLP bought a new stake in shares of Mimecast during the 1st quarter valued at $49,000. Lazard Asset Management LLC acquired a new stake in shares of Mimecast during the 4th quarter worth $90,000. Finally, Nisa Investment Advisors LLC raised its stake in Mimecast by 20.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,750 shares of the technology company’s stock valued at $99,000 after purchasing an additional 300 shares in the last quarter. 83.52% of the stock is owned by institutional investors.

Shares of MIME stock traded up $1.09 during trading hours on Monday, hitting $41.52. 14,499 shares of the company were exchanged, compared to its average volume of 830,394. Mimecast has a 52 week low of $32.69 and a 52 week high of $59.48. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average of $42.33 and a two-hundred day moving average of $45.25. The company has a market capitalization of $2.67 billion, a PE ratio of 173.00, a PEG ratio of 4.96 and a beta of 1.34.

About Mimecast

Mimecast Limited provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security solution, which protects against the delivery of malware, malicious URLs and attachments, spam, viruses, impersonation attacks, phishing, and spear-phishing attacks, including business email compromise, identity theft, extortion, fraud, and other attacks, while also preventing data leaks and other internal threats, as well as provides awareness training services.

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