Mimecast Ltd. (MIME) Sees Unusually-High Trading Volume
Mimecast Ltd. (NASDAQ:MIME) saw strong trading volume on Thursday . 358,930 shares changed hands during mid-day 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.
Several brokerages recently issued reports on MIME. Zacks Investment Research raised shares of Mimecast from a “sell” rating to a “hold” rating in a report on Wednesday, June 22nd. Dougherty & Co began coverage on shares of Mimecast in a report on Friday, June 3rd. They set a “buy” rating and a $12.00 target price for the company. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $15.00 target price on shares of Mimecast in a report on Tuesday, May 17th. Finally, Jefferies Group reissued a “buy” rating and set a $18.00 target price on shares of Mimecast in a report on Tuesday, May 17th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Mimecast has a consensus rating of “Buy” and an average target price of $15.21.
The stock’s market capitalization is $879.24 million. The firm’s 50-day moving average price is $12.46 and its 200-day moving average price is $10.09.
Mimecast (NASDAQ:MIME) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. The firm had revenue of $41.46 million for the quarter, compared to analyst estimates of $39.85 million. The company’s revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) EPS. Equities analysts expect that Mimecast Ltd. will post $0.02 EPS 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.
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