Mimecast (MIME) Downgraded by BidaskClub to “Buy”

BidaskClub cut shares of Mimecast (NASDAQ:MIME) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday, BidAskClub reports.

MIME has been the subject of a number of other research reports. ValuEngine raised shares of Mimecast from a hold rating to a buy rating in a research report on Monday, February 4th. Summit Insights raised shares of Mimecast from a hold rating to a buy rating in a research report on Tuesday, February 12th. Jefferies Financial Group boosted their target price on shares of Mimecast to $55.00 and gave the company a buy rating in a research report on Tuesday, February 12th. Deutsche Bank boosted their target price on shares of Mimecast to $52.00 and gave the company a buy rating in a research report on Tuesday, February 12th. Finally, Royal Bank of Canada boosted their target price on shares of Mimecast to $52.00 and gave the company an outperform rating in a research report on Tuesday, February 12th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Mimecast currently has a consensus rating of Buy and an average target price of $52.94.

Shares of Mimecast stock opened at $46.05 on Tuesday. The stock has a market capitalization of $2.87 billion, a PE ratio of -657.86, a price-to-earnings-growth ratio of 14.83 and a beta of 1.10. Mimecast has a 52-week low of $29.67 and a 52-week high of $54.57. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.29 and a quick ratio of 1.29.

Mimecast (NASDAQ:MIME) last announced its earnings results on Monday, May 13th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.02). The business had revenue of $92.20 million during the quarter, compared to the consensus estimate of $91.34 million. Mimecast had a negative net margin of 2.06% and a negative return on equity of 2.85%. The company’s revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS. As a group, analysts anticipate that Mimecast will post 0.16 earnings per share for the current year.

In related news, CEO Peter Bauer sold 18,750 shares of the company’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $48.28, for a total transaction of $905,250.00. Following the completion of the sale, the chief executive officer now owns 56,250 shares of the company’s stock, valued at $2,715,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Edward Vincent Jennings sold 130,000 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $48.28, for a total transaction of $6,276,400.00. Following the completion of the transaction, the chief operating officer now directly owns 130,000 shares of the company’s stock, valued at approximately $6,276,400. The disclosure for this sale can be found here. Insiders have sold 367,750 shares of company stock valued at $17,634,475 in the last ninety days. 29.00% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of MIME. Marshall Wace LLP acquired a new stake in Mimecast during the 1st quarter valued at approximately $49,000. Renaissance Technologies LLC increased its position in Mimecast by 12.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,840,500 shares of the technology company’s stock valued at $87,148,000 after purchasing an additional 199,800 shares during the period. AQR Capital Management LLC acquired a new stake in Mimecast during the 1st quarter valued at approximately $393,000. Blair William & Co. IL acquired a new stake in Mimecast during the 1st quarter valued at approximately $327,000. Finally, Bayesian Capital Management LP acquired a new stake in Mimecast during the 1st quarter valued at approximately $486,000. 64.43% of the stock is owned by hedge funds and other institutional investors.

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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