Mimecast Ltd. (NASDAQ:MIME) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $12.48 and last traded at $12.39, with a volume of 131,181 shares trading hands. The stock had previously closed at $11.59.

Several research firms have weighed in on MIME. 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. downgraded shares of Mimecast from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $12.00 to $10.50 in a research report on Friday, April 15th. Dougherty & Co assumed coverage on shares of Mimecast in a research report on Friday, June 3rd. They issued a “buy” rating and a $12.00 target price for the company. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Mimecast in a report on Thursday, June 23rd. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $15.00 price objective on shares of Mimecast in a report on Monday, April 18th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Mimecast currently has a consensus rating of “Buy” and a consensus target price of $13.92.

The company’s market cap is $674.22 million. The company has a 50 day moving average price of $10.58 and a 200 day moving average price of $9.37.

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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