Mimecast Limited (NASDAQ:MIME) Price Target Raised to $36.00

Mimecast Limited (NASDAQ:MIME) had its price target increased by Dougherty & Co from $32.00 to $36.00 in a research report report published on Monday, November 6th, Marketbeat.com reports. Dougherty & Co currently has a buy rating on the technology company’s stock.

Other research analysts have also issued research reports about the stock. Needham & Company LLC reissued a buy rating and issued a $35.00 price objective on shares of Mimecast in a research note on Tuesday, September 12th. Jefferies Group LLC reiterated a buy rating and issued a $35.00 price target on shares of Mimecast in a research note on Sunday, September 10th. Royal Bank Of Canada reiterated a buy rating and issued a $30.00 price target on shares of Mimecast in a research note on Monday, July 31st. BidaskClub downgraded shares of Mimecast from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Finally, Oppenheimer Holdings, Inc. reiterated an outperform rating and issued a $32.00 price target (up previously from $27.00) on shares of Mimecast in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $32.83.

Mimecast (NASDAQ MIME) traded down $0.17 during midday trading on Monday, hitting $30.53. 78,722 shares of the stock traded hands, compared to its average volume of 226,552. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. Mimecast has a twelve month low of $16.75 and a twelve month high of $32.00.

A number of hedge funds have recently added to or reduced their stakes in MIME. Quantbot Technologies LP acquired a new stake in Mimecast during the second quarter worth approximately $104,000. Invictus RG acquired a new position in shares of Mimecast in the 3rd quarter valued at $143,000. US Bancorp DE increased its holdings in shares of Mimecast by 11.9% in the 2nd quarter. US Bancorp DE now owns 7,155 shares of the technology company’s stock valued at $192,000 after acquiring an additional 759 shares during the period. Bronfman E.L. Rothschild L.P. acquired a new position in shares of Mimecast in the 3rd quarter valued at $200,000. Finally, Crow Point Partners LLC acquired a new position in shares of Mimecast in the 2nd quarter valued at $281,000. 54.69% of the stock is currently owned by institutional investors.

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Mimecast 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 (NASDAQ:MIME)

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