Mimecast Ltd (MIME) Receives $51.21 Consensus Price Target from Analysts

Shares of Mimecast Ltd (NASDAQ:MIME) have been assigned an average recommendation of “Buy” from the twenty brokerages that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $52.14.

A number of analysts recently issued reports on MIME shares. ValuEngine raised Mimecast from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 13th. Summit Insights raised Mimecast from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $52.00 target price (up previously from $45.00) on shares of Mimecast in a research report on Tuesday, February 12th. BMO Capital Markets boosted their price target on Mimecast from $43.00 to $52.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 12th. Finally, BidaskClub raised Mimecast from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st.

In other Mimecast news, SVP Janet Bishop-Levesque sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $47.75, for a total transaction of $238,750.00. Following the transaction, the senior vice president now owns 5,000 shares of the company’s stock, valued at $238,750. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Edward Vincent Jennings sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $41.98, for a total value of $461,780.00. Following the transaction, the chief operating officer now directly owns 11,000 shares in the company, valued at approximately $461,780. The disclosure for this sale can be found here. In the last three months, insiders have sold 413,750 shares of company stock worth $19,773,405. Company insiders own 29.00% of the company’s stock.

Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Mimecast by 435.7% during the first quarter. JPMorgan Chase & Co. now owns 202,266 shares of the technology company’s stock worth $9,577,000 after purchasing an additional 164,512 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Mimecast by 73.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,825 shares of the technology company’s stock worth $1,223,000 after purchasing an additional 10,941 shares during the last quarter. Redwood Investments LLC lifted its stake in Mimecast by 19.6% during the first quarter. Redwood Investments LLC now owns 229,801 shares of the technology company’s stock worth $10,881,000 after purchasing an additional 37,675 shares during the last quarter. Penn Capital Management Co. Inc. lifted its stake in Mimecast by 11.0% during the first quarter. Penn Capital Management Co. Inc. now owns 240,356 shares of the technology company’s stock worth $11,381,000 after purchasing an additional 23,773 shares during the last quarter. Finally, Spark Investment Management LLC lifted its stake in Mimecast by 18.9% during the first quarter. Spark Investment Management LLC now owns 216,700 shares of the technology company’s stock worth $10,260,000 after purchasing an additional 34,500 shares during the last quarter. Institutional investors own 64.04% of the company’s stock.

NASDAQ:MIME opened at $51.90 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $3.14 billion, a P/E ratio of -273.16, a P/E/G ratio of 16.85 and a beta of 1.10. Mimecast has a 52-week low of $29.67 and a 52-week high of $54.57.

Mimecast (NASDAQ:MIME) last released its earnings results on Monday, February 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). The company had revenue of $87.61 million during the quarter, compared to analyst estimates of $84.80 million. Mimecast had a negative net margin of 4.14% and a negative return on equity of 6.51%. On average, analysts anticipate that Mimecast will post -0.03 earnings per share for the current year.

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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