Mimecast Ltd. (NASDAQ:MIME)’s share price dropped 1.9% during trading on Tuesday . The stock 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 subject of several research reports. Zacks Investment Research lowered shares of Mimecast from a “hold” rating to a “sell” rating in a research report 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 report on Friday, April 15th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $15.00 price objective on shares of Mimecast in a research report on Monday, April 18th. Jefferies Group reiterated a “buy” rating and set a $18.00 price objective on shares of Mimecast in a research report on Tuesday, May 17th. Finally, Dougherty & Co began coverage on shares of Mimecast in a research report on Friday, June 3rd. They set a “buy” rating and a $12.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $13.92.

The stock has a 50 day moving average of $9.93 and a 200-day moving average of $9.15. The stock’s market capitalization is $548.92 million.

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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