Mimecast (NASDAQ:MIME) Stock Rating Lowered by BidaskClub

Mimecast (NASDAQ:MIME) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, BidAskClub reports.

A number of other equities research analysts also recently weighed in on the company. Robert W. Baird reissued a “buy” rating and set a $58.00 target price on shares of Mimecast in a report on Tuesday, August 6th. Imperial Capital reissued an “outperform” rating and set a $55.00 target price (up previously from $52.00) on shares of Mimecast in a report on Tuesday, May 14th. Berenberg Bank started coverage on Mimecast in a report on Friday, May 31st. They set a “buy” rating and a $59.00 target price for the company. Wedbush dropped their target price on Mimecast from $50.00 to $46.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Finally, BMO Capital Markets lifted their target price on Mimecast from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Mimecast has an average rating of “Buy” and an average price target of $55.47.

Shares of Mimecast stock opened at $41.62 on Wednesday. The business has a fifty day simple moving average of $47.04 and a two-hundred day simple moving average of $46.94. Mimecast has a 1 year low of $29.67 and a 1 year high of $54.57. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -594.57, a P/E/G ratio of 42.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.20 and a quick ratio of 1.20.

Mimecast (NASDAQ:MIME) last announced its quarterly earnings results on Monday, August 5th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.11. Mimecast had a negative return on equity of 2.63% and a negative net margin of 2.09%. The business had revenue of $99.23 million during the quarter, compared to the consensus estimate of $97.32 million. During the same quarter last year, the firm posted $0.04 EPS. The company’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, equities analysts anticipate that Mimecast will post 0.05 earnings per share for the current fiscal year.

In related news, Director Neil Murray sold 35,000 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $48.91, for a total value of $1,711,850.00. Following the completion of the transaction, the director now owns 1,986,665 shares of the company’s stock, valued at $97,167,785.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Edward Vincent Jennings sold 11,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $42.90, for a total value of $471,900.00. Following the completion of the transaction, the chief operating officer now directly owns 12,251 shares of the company’s stock, valued at approximately $525,567.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 548,746 shares of company stock valued at $25,342,531. 11.60% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC acquired a new position in Mimecast in the second quarter valued at about $32,000. First Mercantile Trust Co. grew its position in Mimecast by 223.4% in the first quarter. First Mercantile Trust Co. now owns 1,035 shares of the technology company’s stock valued at $49,000 after acquiring an additional 715 shares during the last quarter. Marshall Wace LLP bought a new position in Mimecast in the first quarter valued at about $49,000. Advisor Group Inc. grew its position in Mimecast by 39.1% in the second quarter. Advisor Group Inc. now owns 1,349 shares of the technology company’s stock valued at $64,000 after acquiring an additional 379 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Mimecast in the second quarter valued at about $79,000. 72.46% of the stock is owned by institutional investors and hedge funds.

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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