Mimecast (NASDAQ:MIME) Stock Price Up 5.7%

Shares of Mimecast Ltd (NASDAQ:MIME) rose 5.7% during mid-day trading on Friday . The stock traded as high as $49.07 and last traded at $49.02, approximately 1,292,194 shares traded hands during mid-day trading. An increase of 75% from the average daily volume of 736,303 shares. The stock had previously closed at $46.37.

MIME has been the topic of several research reports. Rosenblatt Securities lifted their target price on Mimecast from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday. Dougherty & Co cut Mimecast from a “buy” rating to a “neutral” rating in a report on Friday, November 8th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $58.00 target price on shares of Mimecast in a report on Tuesday. They noted that the move was a valuation call. Jefferies Financial Group lifted their target price on Mimecast from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, ValuEngine raised Mimecast from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $58.43.

The company has a 50 day simple moving average of $48.62 and a two-hundred day simple moving average of $43.38. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $2.88 billion, a P/E ratio of -445.64, a PEG ratio of 42.60 and a beta of 1.14.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings data on Monday, February 10th. The technology company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.02. Mimecast had a negative return on equity of 0.67% and a negative net margin of 1.64%. The company had revenue of $110.16 million for the quarter, compared to analysts’ expectations of $108.12 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was up 25.7% on a year-over-year basis. As a group, research analysts expect that Mimecast Ltd will post 0.06 EPS for the current fiscal year.

In other Mimecast news, Director Neil Murray sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $43.09, for a total transaction of $1,508,150.00. Following the sale, the director now directly owns 1,661,665 shares of the company’s stock, valued at $71,601,144.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter Bauer sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $44.52, for a total value 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 disclosure for this sale can be found here. Insiders have sold 120,000 shares of company stock worth $5,424,650 over the last three months. 11.60% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of MIME. J. Goldman & Co LP purchased a new position in shares of Mimecast during the fourth quarter valued at approximately $1,259,000. Marshall Wace North America L.P. boosted its position in shares of Mimecast by 12.9% during the fourth quarter. Marshall Wace North America L.P. now owns 73,451 shares of the technology company’s stock valued at $3,186,000 after buying an additional 8,395 shares during the period. Penserra Capital Management LLC purchased a new position in shares of Mimecast during the fourth quarter valued at approximately $167,000. UBS Group AG boosted its position in shares of Mimecast by 47.9% during the fourth quarter. UBS Group AG now owns 25,840 shares of the technology company’s stock valued at $1,121,000 after buying an additional 8,373 shares during the period. Finally, Bain Capital Public Equity Management II LLC boosted its position in shares of Mimecast by 9.7% during the fourth quarter. Bain Capital Public Equity Management II LLC now owns 968,047 shares of the technology company’s stock valued at $41,994,000 after buying an additional 85,983 shares during the period. 71.52% of the stock is currently owned by institutional investors.

About Mimecast (NASDAQ:MIME)

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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