Mimecast Ltd. (MIME) Sees Strong Trading Volume
Shares of Mimecast Ltd. (NASDAQ:MIME) saw an uptick in trading volume on Friday . 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.
A number of research firms have recently commented on MIME. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $20.00 price objective (up from $15.00) on shares of Mimecast in a report on Thursday. Zacks Investment Research raised shares of Mimecast from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Friday, August 12th. Barclays PLC increased their target price 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 increased their target price 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. Finally, Royal Bank Of Canada reiterated 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’s stock. The company has a consensus rating of “Buy” and a consensus target price of $15.93.
The firm’s 50 day moving average is $13.24 and its 200-day moving average is $10.29. The company’s market capitalization is $938.08 million.
Mimecast (NASDAQ:MIME) last released its quarterly earnings data on Monday, August 8th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. The company earned $41.46 million during the quarter, compared to analyst estimates of $39.85 million. Mimecast’s revenue for the quarter was up 24.4% on a year-over-year basis. On average, equities 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.
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