Mimecast Ltd (MIME) Expected to Announce Quarterly Sales of $84.88 Million

Equities research analysts expect Mimecast Ltd (NASDAQ:MIME) to announce sales of $84.88 million for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Mimecast’s earnings. The lowest sales estimate is $83.42 million and the highest is $86.20 million. Mimecast posted sales of $67.27 million during the same quarter last year, which would indicate a positive year over year growth rate of 26.2%. The business is scheduled to report its next earnings report on Monday, February 11th.

According to Zacks, analysts expect that Mimecast will report full year sales of $336.09 million for the current financial year, with estimates ranging from $332.60 million to $355.60 million. For the next fiscal year, analysts forecast that the firm will report sales of $407.45 million, with estimates ranging from $395.40 million to $416.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover Mimecast.

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

Several equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of Mimecast from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub cut shares of Mimecast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 18th. Wedbush assumed coverage on shares of Mimecast in a research report on Thursday, December 6th. They issued a “neutral” rating and a $40.00 price objective for the company. ValuEngine cut shares of Mimecast from a “buy” rating to a “hold” rating in a research report on Wednesday, December 5th. Finally, TheStreet upgraded shares of Mimecast from a “d+” rating to a “c” rating in a research report on Wednesday, November 21st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Mimecast presently has a consensus rating of “Buy” and an average target price of $45.58.

In related news, COO Edward Vincent Jennings sold 7,500 shares of Mimecast stock in a transaction that occurred on Monday, December 24th. The shares were sold at an average price of $29.98, for a total transaction of $224,850.00. Following the transaction, the chief operating officer now owns 7,500 shares of the company’s stock, valued at approximately $224,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher Fitzgerald sold 2,000 shares of Mimecast stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $35.83, for a total transaction of $71,660.00. Following the transaction, the director now directly owns 25,821 shares in the company, valued at approximately $925,166.43. The disclosure for this sale can be found here. Insiders sold a total of 163,494 shares of company stock worth $5,556,053 in the last ninety days. Insiders own 29.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc bought a new position in Mimecast during the 3rd quarter worth approximately $368,000. Marshall Wace LLP bought a new position in Mimecast during the 3rd quarter worth approximately $14,404,000. Vanguard Group Inc. bought a new position in Mimecast during the 3rd quarter worth approximately $368,000. Legal & General Group Plc boosted its stake in Mimecast by 33.3% during the 3rd quarter. Legal & General Group Plc now owns 296,467 shares of the technology company’s stock worth $12,416,000 after acquiring an additional 74,051 shares during the last quarter. Finally, Penn Capital Management Co. Inc. boosted its stake in Mimecast by 5.9% during the 3rd quarter. Penn Capital Management Co. Inc. now owns 222,533 shares of the technology company’s stock worth $10,270,000 after acquiring an additional 12,304 shares during the last quarter. 70.61% of the stock is currently owned by institutional investors and hedge funds.

MIME traded down $0.81 during midday trading on Friday, hitting $33.47. The company had a trading volume of 307,450 shares, compared to its average volume of 342,836. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $2.09 billion, a PE ratio of -176.16 and a beta of 0.99. Mimecast has a twelve month low of $29.67 and a twelve month high of $46.87.

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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