Mimecast (NASDAQ:MIME) Releases Quarterly Earnings Results

Mimecast (NASDAQ:MIME) announced its earnings results on Thursday. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.11, Briefing.com reports. The business had revenue of $103.36 million during the quarter, compared to analyst estimates of $101.63 million. Mimecast had a negative return on equity of 2.63% and a negative net margin of 2.09%. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 earnings per share.

Shares of MIME stock traded up $4.41 during trading hours on Friday, reaching $43.20. 1,662,200 shares of the company’s stock were exchanged, compared to its average volume of 560,603. The stock’s 50 day moving average is $38.54 and its 200-day moving average is $44.04. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.49. Mimecast has a fifty-two week low of $29.67 and a fifty-two week high of $54.57. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -617.14, a P/E/G ratio of 63.81 and a beta of 1.18.

A number of brokerages recently issued reports on MIME. Rosenblatt Securities began coverage on Mimecast in a report on Wednesday, August 21st. They issued a “buy” rating and a $57.00 price target for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $53.00 price target on shares of Mimecast in a report on Friday. BidaskClub upgraded Mimecast from a “sell” rating to a “hold” rating in a report on Thursday, October 3rd. Dougherty & Co lowered Mimecast from a “buy” rating to a “neutral” rating in a report on Friday. Finally, Wedbush lowered their target price on Mimecast from $50.00 to $46.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $55.19.

In related news, insider John J. Walsh, Jr. sold 5,882 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $42.01, for a total value of $247,102.82. 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 firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $42.90, for a total transaction of $471,900.00. Following the completion of the transaction, the chief operating officer now directly owns 12,251 shares in the company, valued at $525,567.90. The disclosure for this sale can be found here. Insiders sold a total of 344,572 shares of company stock worth $14,335,574 over the last ninety days. 11.60% of the stock is currently owned by corporate insiders.

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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Earnings History for Mimecast (NASDAQ:MIME)

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