Mimecast Ltd. (MIME) Sees Large Volume Increase
Mimecast Ltd. (NASDAQ:MIME) saw unusually-high trading volume on Tuesday . Approximately 195,637 shares traded hands during 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.
MIME has been the topic of a number of research analyst reports. Dougherty & Co initiated coverage on Mimecast in a report on Friday, June 3rd. They set a “buy” rating and a $12.00 target price on the stock. Zacks Investment Research upgraded Mimecast from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th. Royal Bank Of Canada reiterated a “buy” rating on shares of Mimecast in a report on Thursday, June 23rd. Jefferies Group reiterated a “buy” rating and set a $18.00 target price on shares of Mimecast in a report on Tuesday, May 17th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $15.00 target price on shares of Mimecast in a report on Wednesday, August 3rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Mimecast currently has a consensus rating of “Buy” and a consensus target price of $15.21.
The firm has a 50 day moving average of $11.45 and a 200-day moving average of $9.81. The company’s market cap is $807.33 million.
Mimecast (NASDAQ:MIME) last released its quarterly earnings results on Monday, August 8th. The company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. During the same quarter in the prior year, the business posted ($0.04) EPS. The company earned $41.46 million during the quarter, compared to analysts’ expectations of $39.85 million. The company’s revenue was up 24.4% on a year-over-year basis. 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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