Mimecast (MIME) Downgraded by BidaskClub

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

MIME has been the subject of a number of other reports. ValuEngine upgraded shares of Mimecast from a hold rating to a buy rating in a report on Monday, February 4th. Summit Insights upgraded shares of Mimecast from a hold rating to a buy rating in a report on Tuesday, February 12th. Jefferies Financial Group raised their target price on shares of Mimecast to $55.00 and gave the stock a buy rating in a report on Tuesday, February 12th. Deutsche Bank raised their target price on shares of Mimecast to $52.00 and gave the stock a buy rating in a report on Tuesday, February 12th. Finally, Royal Bank of Canada raised their price objective on shares of Mimecast to $52.00 and gave the stock an outperform rating in a research note on Tuesday, February 12th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Mimecast presently has a consensus rating of Buy and a consensus price target of $53.13.

Shares of NASDAQ:MIME opened at $45.79 on Tuesday. The company has a market cap of $2.84 billion, a P/E ratio of -654.14, a price-to-earnings-growth ratio of 24.85 and a beta of 1.10. Mimecast has a 1-year low of $29.67 and a 1-year high of $54.57. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.20.

Mimecast (NASDAQ:MIME) last issued its earnings results on Monday, May 13th. The technology company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.02). The business had revenue of $92.20 million for 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%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) earnings per share. As a group, sell-side analysts anticipate that Mimecast will post 0.09 EPS for the current year.

In other Mimecast news, SVP Janet Bishop-Levesque sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $47.75, for a total value of $238,750.00. Following the completion of the sale, the senior vice president now owns 5,000 shares in the company, valued at approximately $238,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Edward Vincent Jennings sold 11,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $49.11, for a total transaction of $540,210.00. Following the completion of the sale, the chief operating officer now owns 12,251 shares of the company’s stock, valued at approximately $601,646.61. The disclosure for this sale can be found here. Insiders sold a total of 371,250 shares of company stock valued at $17,804,860 in the last ninety days. Company insiders own 29.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in MIME. SQN Investors LP purchased a new stake in Mimecast in the 1st quarter worth approximately $48,064,000. Whale Rock Capital Management LLC raised its holdings in shares of Mimecast by 77.4% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,623,686 shares of the technology company’s stock valued at $54,605,000 after purchasing an additional 708,198 shares in the last quarter. Ranger Investment Management L.P. bought a new position in shares of Mimecast during the 4th quarter valued at $20,892,000. Morgan Stanley raised its holdings in shares of Mimecast by 906.4% during the 1st quarter. Morgan Stanley now owns 685,099 shares of the technology company’s stock valued at $32,440,000 after purchasing an additional 617,022 shares in the last quarter. Finally, Portolan Capital Management LLC bought a new position in shares of Mimecast during the 4th quarter valued at $16,649,000. Institutional investors own 64.43% of the company’s stock.

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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Analyst Recommendations for Mimecast (NASDAQ:MIME)

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