Brokerages Expect Mimecast Limited (NASDAQ:MIME) Will Post Earnings of $0.30 Per Share

Wall Street analysts forecast that Mimecast Limited (NASDAQ:MIME) will post earnings of $0.30 per share for the current quarter, Zacks reports. Four analysts have provided estimates for Mimecast’s earnings. The highest EPS estimate is $0.31 and the lowest is $0.28. Mimecast reported earnings of $0.22 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 36.4%. The company is scheduled to issue its next earnings results before the market opens on Tuesday, August 3rd.

On average, analysts expect that Mimecast will report full-year earnings of $1.24 per share for the current fiscal year, with EPS estimates ranging from $1.19 to $1.30. For the next financial year, analysts forecast that the business will report earnings of $1.42 per share, with EPS estimates ranging from $1.36 to $1.48. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Mimecast.

Mimecast (NASDAQ:MIME) last posted its earnings results on Tuesday, May 11th. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.05. Mimecast had a return on equity of 10.01% and a net margin of 5.93%. The company had revenue of $133.90 million for the quarter, compared to analyst estimates of $131.19 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year.

Several brokerages have issued reports on MIME. Barclays upped their target price on Mimecast from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Thursday, July 15th. Needham & Company LLC increased their price target on Mimecast from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 14th. Monness Crespi & Hardt increased their price target on Mimecast from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 12th. Zacks Investment Research raised Mimecast from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Wednesday, July 14th. Finally, Stephens raised their target price on Mimecast from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $56.73.

In related news, Director Neil Murray sold 35,000 shares of the stock in a transaction on Monday, July 19th. The stock was sold at an average price of $54.07, for a total transaction of $1,892,450.00. Following the completion of the sale, the director now directly owns 850,697 shares in the company, valued at $45,997,186.79. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John J. Walsh, Jr. sold 4,000 shares of the stock in a transaction on Monday, April 26th. The stock was sold at an average price of $45.50, for a total value of $182,000.00. Following the sale, the insider now owns 15,642 shares of the company’s stock, valued at $711,711. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 264,381 shares of company stock valued at $13,030,667. 9.50% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in MIME. Oppenheimer Asset Management Inc. increased its position in Mimecast by 3.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 6,927 shares of the technology company’s stock worth $394,000 after buying an additional 238 shares during the last quarter. Catalyst Capital Advisors LLC grew its position in shares of Mimecast by 3.4% in the first quarter. Catalyst Capital Advisors LLC now owns 8,375 shares of the technology company’s stock valued at $337,000 after purchasing an additional 275 shares during the last quarter. SkyOak Wealth LLC grew its position in Mimecast by 1.1% during the first quarter. SkyOak Wealth LLC now owns 33,525 shares of the technology company’s stock worth $1,501,000 after buying an additional 357 shares in the last quarter. LPL Financial LLC lifted its stake in Mimecast by 6.3% during the fourth quarter. LPL Financial LLC now owns 8,045 shares of the technology company’s stock worth $457,000 after purchasing an additional 480 shares during the period. Finally, Stephens Inc. AR lifted its stake in Mimecast by 14.9% during the first quarter. Stephens Inc. AR now owns 3,867 shares of the technology company’s stock worth $155,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 79.88% of the company’s stock.

NASDAQ:MIME traded up $0.72 during trading hours on Thursday, reaching $56.76. The company had a trading volume of 13,329 shares, compared to its average volume of 427,716. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 125.49, a PEG ratio of 2.50 and a beta of 1.30. The stock has a 50 day moving average price of $51.99. Mimecast has a 1-year low of $37.03 and a 1-year high of $59.48.

Mimecast Company Profile

Mimecast Limited provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security solution, which protects against the delivery of malware, malicious URLs and attachments, spam, viruses, impersonation attacks, phishing, and spear-phishing attacks, including business email compromise, identity theft, extortion, fraud, and other attacks, while also preventing data leaks and other internal threats, as well as provides awareness training services.

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Earnings History and Estimates for Mimecast (NASDAQ:MIME)

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