Mimecast (MIME) Upgraded to C by TheStreet

Mimecast (NASDAQ:MIME) was upgraded by stock analysts at TheStreet from a “d+” rating to a “c” rating in a report released on Wednesday.

A number of other equities research analysts also recently weighed in on MIME. Zacks Investment Research upgraded Mimecast from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Friday, November 16th. Monness Crespi & Hardt lowered their price target on Mimecast from $48.00 to $45.00 and set a “buy” rating for the company in a report on Friday, November 9th. BidaskClub upgraded Mimecast from a “hold” rating to a “buy” rating in a report on Saturday, November 3rd. BMO Capital Markets lowered their price target on Mimecast from $47.00 to $43.00 and set an “outperform” rating for the company in a report on Thursday, November 1st. Finally, Robert W. Baird assumed coverage on Mimecast in a research report on Wednesday, October 17th. They set an “outperform” rating and a $45.00 price objective for the company. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $45.17.

Shares of NASDAQ MIME opened at $35.50 on Wednesday. Mimecast has a twelve month low of $26.50 and a twelve month high of $46.87. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $2.14 billion, a PE ratio of -186.84 and a beta of 0.82.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings results on Thursday, November 8th. The technology company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.03. Mimecast had a negative return on equity of 10.33% and a negative net margin of 5.44%. The business had revenue of $82.17 million during the quarter, compared to the consensus estimate of $80.77 million. The firm’s revenue for the quarter was up 30.2% compared to the same quarter last year. On average, equities analysts forecast that Mimecast will post -0.03 EPS for the current year.

In other Mimecast news, CEO Peter Bauer sold 7,500 shares of the business’s stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $35.00, for a total transaction of $262,500.00. Following the completion of the transaction, the chief executive officer now owns 101,250 shares in the company, valued at approximately $3,543,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher Fitzgerald sold 6,000 shares of the business’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $40.98, for a total value of $245,880.00. Following the transaction, the director now owns 27,821 shares of the company’s stock, valued at approximately $1,140,104.58. The disclosure for this sale can be found here. Insiders have sold a total of 109,556 shares of company stock valued at $4,178,775 in the last quarter. 29.00% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale boosted its position in Mimecast by 131.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,661 shares of the technology company’s stock worth $110,000 after acquiring an additional 1,511 shares during the period. Simplex Trading LLC acquired a new stake in shares of Mimecast in the third quarter valued at $183,000. First Republic Investment Management Inc. acquired a new stake in shares of Mimecast in the third quarter valued at $203,000. PEAK6 Investments LLC acquired a new stake in shares of Mimecast in the third quarter valued at $210,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Mimecast in the second quarter valued at $215,000. Institutional investors own 67.88% of the company’s stock.

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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