$97.40 Million in Sales Expected for Mimecast Ltd (MIME) This Quarter

Equities research analysts expect that Mimecast Ltd (NASDAQ:MIME) will report sales of $97.40 million for the current quarter, Zacks reports. Seven analysts have provided estimates for Mimecast’s earnings, with estimates ranging from $97.00 million to $98.40 million. Mimecast reported sales of $78.40 million in the same quarter last year, which indicates a positive year over year growth rate of 24.2%. The business is expected to announce its next earnings results on Thursday, August 8th.

On average, analysts expect that Mimecast will report full year sales of $421.20 million for the current year, with estimates ranging from $419.79 million to $423.98 million. For the next financial year, analysts forecast that the firm will report sales of $508.41 million, with estimates ranging from $503.50 million to $517.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Mimecast.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings results on Monday, May 13th. The technology company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.02). The company had revenue of $92.20 million during the quarter, compared to the consensus estimate of $91.34 million. Mimecast had a negative return on equity of 2.85% and a negative net margin of 2.06%. Mimecast’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) EPS.

A number of equities analysts have recently commented on the stock. BidaskClub lowered shares of Mimecast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 14th. ValuEngine lowered shares of Mimecast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 14th. Wedbush reissued a “neutral” rating and issued a $50.00 price target (up previously from $47.00) on shares of Mimecast in a report on Tuesday, May 14th. BMO Capital Markets increased their price target on shares of Mimecast from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. Finally, Zacks Investment Research lowered shares of Mimecast from a “buy” rating to a “hold” rating in a report on Saturday, February 16th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $53.13.

Shares of NASDAQ:MIME opened at $45.58 on Tuesday. The firm has a market capitalization of $2.73 billion, a PE ratio of -651.14, a P/E/G ratio of 24.24 and a beta of 1.10. Mimecast has a one year low of $29.67 and a one year high of $54.57. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.29 and a current ratio of 1.29.

In other news, CEO Peter Bauer sold 18,750 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $48.28, for a total value 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 approximately $2,715,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Edward Vincent Jennings sold 11,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $45.76, for a total transaction of $503,360.00. Following the completion of the sale, the chief operating officer now directly owns 11,000 shares of the company’s stock, valued at approximately $503,360. The disclosure for this sale can be found here. Insiders sold a total of 364,250 shares of company stock valued at $17,471,270 in the last ninety days. 29.00% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Roundview Capital LLC boosted its stake in shares of Mimecast by 3.9% in the 4th quarter. Roundview Capital LLC now owns 20,561 shares of the technology company’s stock valued at $691,000 after purchasing an additional 781 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Mimecast by 1,011.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 245,636 shares of the technology company’s stock valued at $8,260,000 after buying an additional 223,526 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new stake in Mimecast during the 4th quarter valued at $192,000. HarbourVest Partners LLC purchased a new stake in Mimecast during the 4th quarter valued at $789,000. Finally, Polar Capital LLP boosted its position in Mimecast by 52.1% during the 4th quarter. Polar Capital LLP now owns 946,401 shares of the technology company’s stock valued at $31,827,000 after buying an additional 324,017 shares during the period. 64.43% of the stock is owned by 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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Earnings History and Estimates for Mimecast (NASDAQ:MIME)

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