Mimecast Ltd. (MIME) Sees Unusually-High Trading Volume
Mimecast Ltd. (NASDAQ:MIME) saw strong trading volume on Thursday . 358,930 shares changed hands during trading, an increase of 36% from the previous session’s volume of 264,873 shares.The stock last traded at $16.06 and had previously closed at $15.83.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Mimecast from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Mimecast in a research note on Tuesday, May 24th. Barclays PLC boosted their target price on shares of Mimecast from $13.00 to $16.00 and gave the company an “overweight” rating in a research note on Tuesday, August 9th. Jefferies Group reiterated a “buy” rating and set a $18.00 target price on shares of Mimecast in a research note on Tuesday, May 17th. Finally, Dougherty & Co boosted their target price on shares of Mimecast from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $15.21.
The firm’s market capitalization is $871.62 million. The stock’s 50 day moving average price is $12.29 and its 200 day moving average price is $10.04.
Mimecast (NASDAQ:MIME) last released its quarterly earnings data on Monday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.08. The business had revenue of $41.46 million for the quarter, compared to the consensus estimate of $39.85 million. Mimecast’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.04) earnings per share. On average, analysts forecast that Mimecast Ltd. will post $0.02 earnings per share for the current 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.
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