Mimecast Ltd. (MIME) Sees Strong Trading Volume
Mimecast Ltd. (NASDAQ:MIME) saw unusually-high trading volume on Friday . Approximately 397,893 shares were traded during trading, an increase of 35% from the previous session’s volume of 295,809 shares.The stock last traded at $17.01 and had previously closed at $16.64.
MIME has been the subject of a number of recent research reports. Barclays PLC raised their price target on Mimecast from $13.00 to $16.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. Zacks Investment Research raised Mimecast from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Friday, August 12th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Mimecast in a research note on Thursday, June 23rd. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $15.00 price target on shares of Mimecast in a research note on Wednesday, August 3rd. Finally, Dougherty & Co raised their price target on Mimecast from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $15.93.
The company’s 50-day moving average price is $13.24 and its 200 day moving average price is $10.29. The company’s market cap is $938.08 million.
Mimecast (NASDAQ:MIME) last posted its earnings results on Monday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The business earned $41.46 million during the quarter, compared to analyst estimates of $39.85 million. During the same period in the previous year, the firm posted ($0.04) earnings per share. The firm’s revenue was up 24.4% on a year-over-year basis. On average, equities research analysts expect 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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