Mimecast Ltd. (MIME) Trading Down 1.9%
Mimecast Ltd. (NASDAQ:MIME) shares dropped 1.9% during trading on Tuesday . The company traded as low as $9.93 and last traded at $9.99, with a volume of 56,892 shares trading hands. The stock had previously closed at $10.18.
MIME has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Mimecast from a “hold” rating to a “sell” rating in a research note on Saturday, April 9th. Goldman Sachs Group Inc. lowered shares of Mimecast from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $12.00 to $10.50 in a research note on Friday, April 15th. Dougherty & Co initiated coverage on shares of Mimecast in a research note on Friday, June 3rd. They set a “buy” rating and a $12.00 price objective on the stock. Royal Bank Of Canada reiterated a “buy” rating on shares of Mimecast in a research note on Thursday, June 23rd. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $15.00 price target on shares of Mimecast in a research report on Monday, April 18th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $13.92.
The firm’s market cap is $545.12 million. The stock has a 50-day moving average of $9.81 and a 200-day moving average of $9.14.
A hedge fund recently bought a new stake in Mimecast stock. Kornitzer Capital Management Inc. KS purchased a new position in shares of Mimecast Ltd. (NASDAQ:MIME) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,049,530 shares of the company’s stock, valued at approximately $10,075,000. Kornitzer Capital Management Inc. KS owned about 3.11% of Mimecast as of its most recent filing with the SEC.
Mimecast Limited is a United Kingdom-based business e-mail and data safety solutions provider. The Company offers solutions for e-mail security; archiving, risk and compliance; business continuity; migration, and employee productivity and mobility. Its products consist of Mimecast Secure Email Gateway, which is offered for spam and virus protection, content control and data leak prevention, targeted threat protection, file send, secure messaging, and advanced e-mail signature and disclaimer management; Mimecast Mailbox Continuity, which is offered for continuity services, and Mimecast Enterprise Information Archiving, which is offered for file archiving, legacy archive data management and Lync Instant messaging Archiving.
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