Investment analysts at BMO Capital Markets started coverage on shares of Mimecast (NASDAQ:MIME) in a research report issued to clients and investors on Friday, January 5th, MarketBeat reports. The brokerage set an “outperform” rating and a $35.00 price target on the technology company’s stock. BMO Capital Markets’ target price suggests a potential upside of 8.39% from the stock’s previous close.
Several other analysts also recently issued reports on MIME. Jefferies Group reissued a “buy” rating and issued a $35.00 price objective on shares of Mimecast in a research note on Sunday, September 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 target price on shares of Mimecast in a research report on Tuesday, September 12th. Zacks Investment Research lowered shares of Mimecast from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Royal Bank of Canada reaffirmed a “buy” rating and set a $33.00 target price on shares of Mimecast in a research report on Wednesday, October 18th. Finally, Dougherty & Co raised their target price on shares of Mimecast from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. Mimecast has a consensus rating of “Buy” and a consensus price target of $33.77.
Shares of Mimecast (NASDAQ MIME) traded down $0.46 during trading hours on Friday, hitting $32.29. 184,600 shares of the company were exchanged, compared to its average volume of 313,333. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.32. Mimecast has a 1 year low of $19.12 and a 1 year high of $33.05. The company has a market cap of $1,860.00 and a P/E ratio of -189.94.
Several large investors have recently bought and sold shares of MIME. Quantbot Technologies LP acquired a new position in Mimecast during the second quarter valued at $104,000. Invictus RG acquired a new position in Mimecast during the third quarter valued at $143,000. Bronfman E.L. Rothschild L.P. acquired a new position in Mimecast during the third quarter valued at $200,000. Cubist Systematic Strategies LLC acquired a new position in Mimecast during the second quarter valued at $290,000. Finally, Goldman Sachs Group Inc. acquired a new position in Mimecast during the second quarter valued at $327,000. Institutional investors and hedge funds own 58.66% of the company’s stock.
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.
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