Mimecast (NASDAQ:MIME) Announces Earnings Results, Beats Estimates By $0.11 EPS

Mimecast (NASDAQ:MIME) posted its quarterly earnings results on Monday. The technology company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.11, Bloomberg Earnings reports. The business had revenue of $99.23 million during the quarter, compared to the consensus estimate of $97.32 million. Mimecast had a negative return on equity of 2.72% and a negative net margin of 2.06%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period last year, the firm earned $0.04 earnings per share. Mimecast updated its Q2 2020 guidance to EPS and its FY 2020 guidance to EPS.

Shares of MIME traded down $3.20 during mid-day trading on Monday, reaching $43.47. 903,244 shares of the company’s stock traded hands, compared to its average volume of 543,453. The firm’s 50-day simple moving average is $47.59. The company has a market cap of $2.88 billion, a PE ratio of -621.00, a P/E/G ratio of 56.57 and a beta of 1.12. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.75. Mimecast has a 12 month low of $29.67 and a 12 month high of $54.57.

In related news, Director Neil Murray sold 235,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $45.98, for a total transaction of $10,805,300.00. Following the transaction, the director now owns 2,139,188 shares in the company, valued at $98,359,864.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Bauer sold 18,750 shares of Mimecast stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $46.87, for a total transaction of $878,812.50. Following the completion of the transaction, the chief executive officer now owns 33,500 shares in the company, valued at approximately $1,570,145. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 498,746 shares of company stock worth $23,231,841. Corporate insiders own 11.60% of the company’s stock.

A number of equities analysts have issued reports on MIME shares. ValuEngine cut shares of Mimecast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 14th. Bank of America started coverage on shares of Mimecast in a report on Friday, April 12th. They issued a “buy” rating and a $60.00 target price on the stock. Berenberg Bank started coverage on shares of Mimecast in a report on Friday, May 31st. They issued a “buy” rating and a $59.00 target price on the stock. Imperial Capital reissued an “outperform” rating and issued a $55.00 target price (up previously from $52.00) on shares of Mimecast in a report on Tuesday, May 14th. Finally, Wedbush reissued a “neutral” rating and issued a $50.00 target price on shares of Mimecast in a report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $54.31.

Mimecast Company Profile

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 for Mimecast (NASDAQ:MIME)

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