Zacks: Brokerages Anticipate Mimecast Ltd (NASDAQ:MIME) Will Post Quarterly Sales of $97.37 Million

Equities research analysts expect Mimecast Ltd (NASDAQ:MIME) to report $97.37 million in sales for the current quarter, Zacks reports. Eight analysts have provided estimates for Mimecast’s earnings, with the lowest sales estimate coming in at $97.00 million and the highest estimate coming in at $98.40 million. Mimecast posted sales of $78.40 million in the same quarter last year, which suggests a positive year over year growth rate of 24.2%. The business is scheduled to report its next quarterly earnings report after the market closes on Monday, August 5th.

On average, analysts expect that Mimecast will report full year sales of $421.13 million for the current year, with estimates ranging from $419.79 million to $423.98 million. For the next year, analysts anticipate that the business will report sales of $508.77 million, with estimates ranging from $503.50 million to $517.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Mimecast.

Mimecast (NASDAQ:MIME) last posted its quarterly earnings results on Monday, May 13th. The technology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.02). Mimecast had a negative return on equity of 2.72% and a negative net margin of 2.06%. The company had revenue of $92.20 million for the quarter, compared to analysts’ expectations of $91.34 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The firm’s revenue was up 25.6% on a year-over-year basis.

MIME has been the topic of several research analyst reports. BMO Capital Markets set a $13.00 price objective on shares of Vale and gave the company a “hold” rating in a report on Tuesday, May 14th. Cowen reduced their price objective on shares of Nordstrom from $44.00 to $36.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. Berenberg Bank restated a “buy” rating and issued a GBX 3,600 ($47.04) price objective on shares of in a report on Friday, May 31st. Imperial Capital restated an “outperform” rating and issued a $55.00 price objective (up from $52.00) on shares of Mimecast in a report on Tuesday, May 14th. Finally, ValuEngine lowered shares of Xylem from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $54.31.

In other news, CEO Peter Bauer sold 18,750 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $45.64, for a total transaction of $855,750.00. Following the completion of the transaction, the chief executive officer now directly owns 12,253 shares of the company’s stock, valued at $559,226.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Edward Vincent Jennings sold 11,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $49.11, for a total value of $540,210.00. Following the transaction, the chief operating officer now directly owns 12,251 shares of the company’s stock, valued at $601,646.61. The disclosure for this sale can be found here. Insiders have sold 477,746 shares of company stock worth $22,161,736 over the last quarter. Insiders own 29.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Brown Advisory Inc. grew its position in shares of Mimecast by 17.3% during the fourth quarter. Brown Advisory Inc. now owns 2,792,107 shares of the technology company’s stock worth $93,896,000 after buying an additional 411,403 shares in the last quarter. Whale Rock Capital Management LLC grew its position in shares of Mimecast by 77.4% during the fourth quarter. Whale Rock Capital Management LLC now owns 1,623,686 shares of the technology company’s stock worth $54,605,000 after buying an additional 708,198 shares in the last quarter. FMR LLC grew its position in shares of Mimecast by 17.1% during the first quarter. FMR LLC now owns 1,320,416 shares of the technology company’s stock worth $62,522,000 after buying an additional 193,185 shares in the last quarter. SQN Investors LP acquired a new position in shares of Mimecast during the first quarter worth about $48,064,000. Finally, Polar Capital LLP grew its position in shares of Mimecast by 52.1% during the fourth quarter. Polar Capital LLP now owns 946,401 shares of the technology company’s stock worth $31,827,000 after buying an additional 324,017 shares in the last quarter. 71.70% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ MIME traded up $0.09 during trading on Friday, hitting $48.31. 513,311 shares of the company were exchanged, compared to its average volume of 335,628. Mimecast has a 12-month low of $29.67 and a 12-month high of $54.57. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.30. The company’s fifty day moving average is $46.02. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -690.14, a PEG ratio of 58.45 and a beta of 1.13.

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 and Estimates for Mimecast (NASDAQ:MIME)

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