Mimecast (NASDAQ:MIME) Price Target Increased to $58.00 by Analysts at Monness Crespi & Hardt

Mimecast (NASDAQ:MIME) had its price objective boosted by Monness Crespi & Hardt from $55.00 to $58.00 in a research note issued to investors on Monday, The Fly reports. Monness Crespi & Hardt currently has a buy rating on the technology company’s stock.

A number of other research analysts also recently issued reports on MIME. Zacks Investment Research downgraded shares of Mimecast from a buy rating to a hold rating in a research report on Thursday, January 9th. BidaskClub upgraded shares of Mimecast from a strong sell rating to a sell rating in a research report on Wednesday, January 8th. ValuEngine upgraded shares of Mimecast from a sell rating to a hold rating in a research report on Friday, January 3rd. Robert W. Baird restated a buy rating and issued a $58.00 price target on shares of Mimecast in a research report on Monday, January 6th. Finally, Needham & Company LLC restated a buy rating and issued a $65.00 price target on shares of Mimecast in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. Mimecast presently has a consensus rating of Buy and an average target price of $55.67.

NASDAQ:MIME opened at $48.24 on Monday. The firm’s 50 day simple moving average is $44.46 and its 200 day simple moving average is $42.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.18 and a quick ratio of 1.18. Mimecast has a one year low of $32.06 and a one year high of $54.57. The company has a market cap of $3.00 billion, a PE ratio of -689.14, a P/E/G ratio of 38.82 and a beta of 1.18.

Mimecast (NASDAQ:MIME) last posted its earnings results on Thursday, November 7th. The technology company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.02 by $0.11. Mimecast had a negative net margin of 1.67% and a negative return on equity of 0.82%. The business had revenue of $103.36 million for the quarter, compared to the consensus estimate of $101.63 million. During the same period last year, the company earned $0.06 EPS. The firm’s revenue was up 25.8% compared to the same quarter last year. Equities research analysts expect that Mimecast will post 0.06 EPS for the current year.

In other news, CEO Peter Bauer sold 15,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $44.52, for a total transaction of $667,800.00. Following the sale, the chief executive officer now directly owns 140,000 shares in the company, valued at $6,232,800. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Neil Murray sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $42.96, for a total transaction of $1,503,600.00. Following the completion of the transaction, the director now owns 1,696,665 shares in the company, valued at $72,888,728.40. The disclosure for this sale can be found here. Insiders sold a total of 120,000 shares of company stock valued at $5,036,850 in the last quarter. 11.60% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the stock. Beck Bode LLC bought a new position in shares of Mimecast in the third quarter worth approximately $744,000. Maverick Capital Ltd. bought a new position in shares of Mimecast in the third quarter worth approximately $3,971,000. Millennium Management LLC increased its position in shares of Mimecast by 2,270.3% in the third quarter. Millennium Management LLC now owns 576,156 shares of the technology company’s stock worth $20,551,000 after purchasing an additional 551,849 shares during the last quarter. Man Group plc increased its position in shares of Mimecast by 37.3% in the third quarter. Man Group plc now owns 112,202 shares of the technology company’s stock worth $4,002,000 after purchasing an additional 30,471 shares during the last quarter. Finally, Michael & Susan Dell Foundation increased its position in shares of Mimecast by 11.3% in the third quarter. Michael & Susan Dell Foundation now owns 10,860 shares of the technology company’s stock worth $387,000 after purchasing an additional 1,106 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

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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Analyst Recommendations for Mimecast (NASDAQ:MIME)

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