Mimecast Ltd (MIME) Expected to Post Quarterly Sales of $71.38 Million

Wall Street analysts expect Mimecast Ltd (NASDAQ:MIME) to report sales of $71.38 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Mimecast’s earnings. The highest sales estimate is $71.57 million and the lowest is $71.00 million. Mimecast reported sales of $52.41 million in the same quarter last year, which indicates a positive year-over-year growth rate of 36.2%. The firm is expected to report its next earnings results on Tuesday, May 8th.

On average, analysts expect that Mimecast will report full year sales of $71.38 million for the current fiscal year, with estimates ranging from $259.77 million to $260.07 million. For the next year, analysts anticipate that the firm will report sales of $316.81 million per share, with estimates ranging from $310.00 million to $327.44 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Mimecast.

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Mimecast (NASDAQ:MIME) last posted its quarterly earnings data on Monday, February 12th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01. The firm had revenue of $67.30 million during the quarter, compared to the consensus estimate of $64.92 million. Mimecast had a negative net margin of 3.51% and a negative return on equity of 9.88%. The company’s quarterly revenue was up 39.3% compared to the same quarter last year.

A number of analysts have issued reports on MIME shares. BidaskClub raised shares of Mimecast from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. Deutsche Bank assumed coverage on shares of Mimecast in a report on Tuesday, December 19th. They issued a “buy” rating and a $35.00 price objective for the company. Oppenheimer restated a “buy” rating and issued a $35.00 target price on shares of Mimecast in a research report on Monday, December 18th. Royal Bank of Canada restated a “buy” rating and issued a $38.00 target price on shares of Mimecast in a research report on Tuesday, February 13th. Finally, Needham & Company LLC boosted their target price on shares of Mimecast from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $36.00.

NASDAQ MIME opened at $35.43 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $2,048.28, a price-to-earnings ratio of -354.30 and a beta of 0.18. Mimecast has a 12-month low of $20.33 and a 12-month high of $39.33.

Large investors have recently modified their holdings of the company. Invictus RG acquired a new position in shares of Mimecast in the 3rd quarter valued at approximately $143,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Mimecast in the 3rd quarter valued at approximately $358,000. Allianz Asset Management GmbH acquired a new position in shares of Mimecast in the 4th quarter valued at approximately $420,000. Cubist Systematic Strategies LLC raised its position in shares of Mimecast by 94.7% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 21,050 shares of the technology company’s stock valued at $598,000 after buying an additional 10,238 shares in the last quarter. Finally, Northern Trust Corp increased its position in Mimecast by 71.7% during the 2nd quarter. Northern Trust Corp now owns 36,315 shares of the technology company’s stock worth $973,000 after purchasing an additional 15,168 shares in the last quarter. Institutional investors own 64.57% of the company’s stock.

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Mimecast Company Profile

Mimecast Limited is a provider of cloud security and risk management services for corporate information and e-mail. The Company’s suite of cloud services protects customers from the business and data security risks. It also mitigates the business disruption that e-mail failure or downtime causes. In addition, its archiving services secure, store and manage critical corporate communications and information to address the compliance and e-discovery requirements.

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Earnings History and Estimates for Mimecast (NASDAQ:MIME)

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