Mimecast Limited (NASDAQ:MIME) Rating Increased to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Mimecast Limited (NASDAQ:MIME) from a buy rating to a strong-buy rating in a report issued on Wednesday, July 12th.

A number of other equities analysts have also recently commented on MIME. Monness Crespi & Hardt initiated coverage on shares of Mimecast Limited in a report on Thursday, April 6th. They issued a neutral rating on the stock. Zacks Investment Research raised shares of Mimecast Limited from a sell rating to a hold rating in a report on Thursday, April 13th. Summit Redstone reaffirmed a buy rating and issued a $30.00 target price on shares of Mimecast Limited in a report on Thursday, April 13th. Finally, Benchmark Co. initiated coverage on shares of Mimecast Limited in a report on Thursday, April 27th. They issued a buy rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $29.58.

Mimecast Limited (MIME) traded up 5.71% during mid-day trading on Wednesday, hitting $29.80. 1,355,583 shares of the stock traded hands. Mimecast Limited has a 12-month low of $12.50 and a 12-month high of $30.10. The company has a 50 day moving average of $27.02 and a 200-day moving average of $23.86. The stock’s market cap is $1.68 billion.

Mimecast Limited (NASDAQ:MIME) last released its quarterly earnings data on Monday, August 7th. The technology company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. Mimecast Limited had a negative net margin of 2.92% and a negative return on equity of 6.82%. The company had revenue of $58.16 million for the quarter, compared to analysts’ expectations of $54.96 million. During the same quarter last year, the company earned $0.04 earnings per share. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. Equities research analysts forecast that Mimecast Limited will post $0.06 earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of Mimecast Limited by 3.1% in the first quarter. Wellington Management Group LLP now owns 1,626,028 shares of the technology company’s stock valued at $36,407,000 after buying an additional 48,438 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of Mimecast Limited by 23.1% in the first quarter. Penserra Capital Management LLC now owns 774,621 shares of the technology company’s stock valued at $17,343,000 after buying an additional 145,188 shares in the last quarter. Columbus Circle Investors boosted its position in shares of Mimecast Limited by 88.6% in the second quarter. Columbus Circle Investors now owns 728,762 shares of the technology company’s stock valued at $19,516,000 after buying an additional 342,405 shares in the last quarter. Peregrine Capital Management LLC boosted its position in shares of Mimecast Limited by 7.5% in the first quarter. Peregrine Capital Management LLC now owns 694,917 shares of the technology company’s stock valued at $15,142,000 after buying an additional 48,248 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its position in shares of Mimecast Limited by 53.1% in the first quarter. Driehaus Capital Management LLC now owns 587,266 shares of the technology company’s stock valued at $13,149,000 after buying an additional 203,807 shares in the last quarter. 47.95% of the stock is currently owned by institutional investors.

Mimecast Limited Company Profile

Mimecast Limited is a provider of cloud security and risk management services for corporate information and e-mail. The Company’s suite of cloud services protects customers from the business and data security risks. It also mitigates the business disruption that e-mail failure or downtime causes. In addition, its archiving services secure, store and manage critical corporate communications and information to address the compliance and e-discovery requirements.

Analyst Recommendations for Mimecast Limited (NASDAQ:MIME)

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