Wedbush Reiterates Neutral Rating for Mimecast (NASDAQ:MIME)

Mimecast (NASDAQ:MIME)‘s stock had its “neutral” rating reissued by Wedbush in a research note issued to investors on Friday, RTT News reports. They currently have a $50.00 target price on the technology company’s stock. Wedbush’s target price indicates a potential upside of 3.67% from the stock’s current price.

Several other equities analysts also recently commented on MIME. BMO Capital Markets set a $13.00 price objective on shares of Vale and gave the company a “hold” rating in a research note on Tuesday, May 14th. Bank of America set a $144.00 price objective on shares of Walt Disney and gave the company a “buy” rating in a research note on Friday, April 12th. Imperial Capital reissued an “outperform” rating and issued a $55.00 price objective (up previously from $52.00) on shares of Mimecast in a research note on Tuesday, May 14th. Cowen dropped their price objective on shares of Nordstrom from $44.00 to $36.00 and set a “market perform” rating for the company in a research note on Thursday, May 23rd. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 3,600 ($47.04) price objective on shares of in a research note on Friday, May 31st. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Mimecast currently has a consensus rating of “Buy” and an average target price of $54.31.

Shares of Mimecast stock opened at $48.23 on Friday. The stock’s 50 day moving average price is $46.41. Mimecast has a 1-year low of $29.67 and a 1-year high of $54.57. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.75.



Mimecast (NASDAQ:MIME) last issued its quarterly earnings results on Monday, May 13th. The technology company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.02). The firm had revenue of $92.20 million for the quarter, compared to the consensus estimate of $91.34 million. Mimecast had a negative return on equity of 2.72% and a negative net margin of 2.06%. The business’s revenue was up 25.6% on a year-over-year basis. During the same period last year, the company posted ($0.05) EPS. On average, research analysts forecast that Mimecast will post 0.04 earnings per share for the current year.

In other Mimecast news, Director Neil Murray sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $47.94, for a total value of $1,198,500.00. Following the completion of the transaction, the director now directly owns 2,284,147 shares in the company, valued at approximately $109,502,007.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Peter Bauer sold 18,750 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $47.56, for a total transaction of $891,750.00. Following the completion of the transaction, the chief executive officer now owns 35,096 shares of the company’s stock, valued at $1,669,165.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 488,746 shares of company stock valued at $22,701,616. Corporate insiders own 29.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Roundview Capital LLC increased its position in Mimecast by 1.3% in the 1st quarter. Roundview Capital LLC now owns 20,836 shares of the technology company’s stock valued at $987,000 after acquiring an additional 275 shares during the period. Zions Bancorporation N.A. increased its position in shares of Mimecast by 6.7% during the first quarter. Zions Bancorporation N.A. now owns 4,844 shares of the technology company’s stock worth $229,000 after buying an additional 305 shares during the period. NumerixS Investment Technologies Inc increased its position in shares of Mimecast by 19.5% during the first quarter. NumerixS Investment Technologies Inc now owns 2,390 shares of the technology company’s stock worth $114,000 after buying an additional 390 shares during the period. Juncture Wealth Strategies LLC increased its position in shares of Mimecast by 4.7% during the second quarter. Juncture Wealth Strategies LLC now owns 11,605 shares of the technology company’s stock worth $542,000 after buying an additional 520 shares during the period. Finally, First Mercantile Trust Co. increased its position in shares of Mimecast by 223.4% during the first quarter. First Mercantile Trust Co. now owns 1,035 shares of the technology company’s stock worth $49,000 after buying an additional 715 shares during the period. Hedge funds and other institutional investors own 71.73% of the company’s stock.

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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Analyst Recommendations for Mimecast (NASDAQ:MIME)

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