Zacks: Analysts Expect Mimecast Ltd (MIME) Will Post Quarterly Sales of $84.69 Million

Equities analysts expect Mimecast Ltd (NASDAQ:MIME) to report sales of $84.69 million for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Mimecast’s earnings. The highest sales estimate is $85.00 million and the lowest is $83.42 million. Mimecast posted sales of $67.27 million in the same quarter last year, which suggests a positive year over year growth rate of 25.9%. The business is expected to issue its next quarterly earnings report on Monday, February 11th.

According to Zacks, analysts expect that Mimecast will report full-year sales of $333.30 million for the current fiscal year, with estimates ranging from $332.60 million to $334.27 million. For the next year, analysts expect that the firm will post sales of $406.90 million, with estimates ranging from $395.40 million to $416.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Mimecast.

Mimecast (NASDAQ:MIME) last released its quarterly earnings data on Thursday, November 8th. The technology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company had revenue of $82.17 million for the quarter, compared to analyst estimates of $80.77 million. Mimecast had a negative net margin of 5.44% and a negative return on equity of 10.33%. The firm’s quarterly revenue was up 30.2% compared to the same quarter last year.

MIME has been the topic of several recent analyst reports. Deutsche Bank boosted their price objective on shares of Mimecast to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. BidaskClub upgraded shares of Mimecast from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. SunTrust Banks initiated coverage on shares of Mimecast in a research note on Tuesday, September 18th. They set a “buy” rating and a $54.00 price objective on the stock. Monness Crespi & Hardt upgraded shares of Mimecast from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Thursday, September 13th. Finally, Zacks Investment Research upgraded shares of Mimecast from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Friday, November 16th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $45.17.

Shares of Mimecast stock traded down $0.17 during trading on Monday, hitting $35.50. 182,608 shares of the stock were exchanged, compared to its average volume of 516,210. The firm has a market capitalization of $2.14 billion, a PE ratio of -186.84 and a beta of 0.82. Mimecast has a 1-year low of $26.50 and a 1-year high of $46.87. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.28 and a quick ratio of 1.28.

In related news, CFO Peter Andrew James Campbell sold 4,000 shares of the stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $41.88, for a total transaction of $167,520.00. Following the transaction, the chief financial officer now owns 224,000 shares of the company’s stock, valued at approximately $9,381,120. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Christopher Fitzgerald sold 6,000 shares of the stock in a transaction dated 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 directly owns 27,821 shares in the company, valued at approximately $1,140,104.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,556 shares of company stock worth $4,178,775. 29.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of MIME. BlackRock Inc. raised its position in Mimecast by 309.7% in the 1st quarter. BlackRock Inc. now owns 22,453 shares of the technology company’s stock valued at $796,000 after purchasing an additional 16,972 shares in the last quarter. Allianz Asset Management GmbH raised its position in Mimecast by 21.1% in the 1st quarter. Allianz Asset Management GmbH now owns 17,740 shares of the technology company’s stock valued at $629,000 after purchasing an additional 3,085 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Mimecast in the 2nd quarter valued at about $1,928,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Mimecast in the 2nd quarter valued at about $215,000. Finally, First Trust Advisors LP raised its position in Mimecast by 40.5% in the 2nd quarter. First Trust Advisors LP now owns 306,674 shares of the technology company’s stock valued at $12,638,000 after purchasing an additional 88,424 shares in the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

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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