Royal Bank of Canada reissued their buy rating on shares of Mimecast (NASDAQ:MIME) in a report published on Tuesday morning, AnalystRatings.com reports.
Other research analysts have also recently issued reports about the company. Jefferies Financial Group upped their price objective on Mimecast from $45.00 to $50.00 and gave the company a buy rating in a report on Tuesday. Barclays upped their price objective on Mimecast from $46.00 to $48.00 and gave the company an overweight rating in a report on Monday, July 20th. Northland Securities upped their price objective on Mimecast from $55.00 to $73.00 and gave the company an outperform rating in a report on Tuesday, April 14th. JPMorgan Chase & Co. decreased their price objective on Mimecast from $56.00 to $54.00 and set a neutral rating on the stock in a report on Tuesday, May 12th. Finally, Zacks Investment Research upgraded Mimecast from a sell rating to a hold rating in a report on Wednesday, July 15th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $51.65.
MIME stock opened at $46.93 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50 day simple moving average of $42.86 and a 200-day simple moving average of $41.36. The firm has a market capitalization of $2.96 billion, a PE ratio of -1,173.25, a price-to-earnings-growth ratio of 29.07 and a beta of 1.24. Mimecast has a 1 year low of $25.14 and a 1 year high of $54.40.
In other Mimecast news, VP John J. Walsh, Jr. sold 5,814 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $45.91, for a total transaction of $266,920.74. Following the transaction, the vice president now owns 9,511 shares of the company’s stock, valued at $436,650.01. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Neil Murray sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $36.96, for a total value of $1,293,600.00. Following the transaction, the director now directly owns 1,486,665 shares in the company, valued at approximately $54,947,138.40. The disclosure for this sale can be found here. Insiders sold 406,400 shares of company stock worth $17,462,713 in the last three months. 11.60% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. M&T Bank Corp lifted its position in Mimecast by 44.6% in the first quarter. M&T Bank Corp now owns 13,287 shares of the technology company’s stock valued at $469,000 after purchasing an additional 4,099 shares during the period. Invesco Ltd. lifted its position in Mimecast by 50.8% in the first quarter. Invesco Ltd. now owns 58,911 shares of the technology company’s stock valued at $2,080,000 after purchasing an additional 19,851 shares during the period. BNP Paribas Arbitrage SA lifted its position in Mimecast by 324.5% in the first quarter. BNP Paribas Arbitrage SA now owns 7,612 shares of the technology company’s stock valued at $269,000 after purchasing an additional 5,819 shares during the period. The Manufacturers Life Insurance Company lifted its position in Mimecast by 347.9% in the first quarter. The Manufacturers Life Insurance Company now owns 145,252 shares of the technology company’s stock valued at $5,127,000 after purchasing an additional 112,825 shares during the period. Finally, Norges Bank acquired a new stake in Mimecast in the fourth quarter valued at about $15,072,000. 79.10% of the stock is currently owned by institutional investors.
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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