Mimecast Ltd. (MIME) Sees Large Volume Increase
Shares of Mimecast Ltd. (NASDAQ:MIME) saw strong trading volume on Tuesday . 195,637 shares traded hands during mid-day trading, an increase of 8% from the previous session’s volume of 181,852 shares.The stock last traded at $14.94 and had previously closed at $14.68.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Mimecast from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday. Barclays PLC boosted their price objective on shares of Mimecast from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. Dougherty & Co boosted their price objective on shares of Mimecast from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $15.00 price objective on shares of Mimecast in a research report on Wednesday, August 3rd. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Mimecast in a research report on Thursday, June 23rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $15.21.
The company has a 50 day moving average price of $11.31 and a 200-day moving average price of $9.77. The firm’s market capitalization is $808.42 million.
Mimecast (NASDAQ:MIME) last released its quarterly earnings results on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.08. The company earned $41.46 million during the quarter, compared to analyst estimates of $39.85 million. During the same period last year, the firm earned ($0.04) earnings per share. The business’s revenue was up 24.4% compared to the same quarter last year. On average, equities research analysts forecast that Mimecast Ltd. will post $0.02 earnings per share for the current fiscal year.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.