Mimecast Ltd (NASDAQ:MIME) Receives $55.50 Consensus Target Price from Brokerages

Mimecast Ltd (NASDAQ:MIME) has earned a consensus recommendation of “Buy” from the nineteen ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $55.93.

A number of research firms have weighed in on MIME. Monness Crespi & Hardt raised their price target on Mimecast from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Monday. BMO Capital Markets restated an “outperform” rating and set a $53.00 price target on shares of Mimecast in a research report on Friday, November 8th. Zacks Investment Research downgraded Mimecast from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of Mimecast in a research report on Friday, November 8th. Finally, BidaskClub upgraded Mimecast from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 8th.

Shares of MIME stock traded up $0.32 on Friday, reaching $49.31. The company’s stock had a trading volume of 326,365 shares, compared to its average volume of 548,581. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.45. Mimecast has a 12-month low of $32.12 and a 12-month high of $54.57. The company has a market capitalization of $3.06 billion, a P/E ratio of -704.43, a PEG ratio of 38.82 and a beta of 1.18. The stock’s 50 day simple moving average is $44.56 and its 200-day simple moving average is $42.99.

Mimecast (NASDAQ:MIME) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.11. Mimecast had a negative return on equity of 0.82% and a negative net margin of 1.67%. The business had revenue of $103.36 million for the quarter, compared to the consensus estimate of $101.63 million. During the same quarter last year, the business posted $0.06 earnings per share. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. 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 firm’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 transaction, the chief executive officer now directly owns 140,000 shares of the company’s stock, valued at $6,232,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Neil Murray sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $42.96, for a total value of $1,503,600.00. Following the transaction, the director now directly owns 1,696,665 shares in the company, valued at $72,888,728.40. The disclosure for this sale can be found here. Insiders have sold 120,000 shares of company stock worth $5,036,850 over the last ninety days. Insiders own 11.60% of the company’s stock.

Several large investors have recently made changes to their positions in MIME. Whale Rock Capital Management LLC grew its stake in shares of Mimecast by 90.8% in the second quarter. Whale Rock Capital Management LLC now owns 3,797,844 shares of the technology company’s stock worth $177,397,000 after purchasing an additional 1,807,096 shares during the last quarter. Millennium Management LLC grew its stake 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. Holocene Advisors LP grew its stake in shares of Mimecast by 52.8% in the second quarter. Holocene Advisors LP now owns 1,567,953 shares of the technology company’s stock worth $73,239,000 after purchasing an additional 541,714 shares during the last quarter. BlackRock Inc. grew its stake in shares of Mimecast by 235.1% in the second quarter. BlackRock Inc. now owns 333,184 shares of the technology company’s stock worth $15,563,000 after purchasing an additional 233,741 shares during the last quarter. Finally, Selz Capital LLC bought a new stake in shares of Mimecast in the third quarter worth about $6,170,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Risk Tolerance

Analyst Recommendations for Mimecast (NASDAQ:MIME)

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