Mimecast Limited (NASDAQ:MIME) Announces Earnings Results
Mimecast Limited (NASDAQ:MIME) released its quarterly earnings results on Monday. The technology company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.05, Bloomberg Earnings reports. The firm had revenue of $58.16 million during the quarter, compared to analysts’ expectations of $54.96 million. Mimecast Limited had a negative return on equity of 6.82% and a negative net margin of 2.92%. Mimecast Limited’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 EPS.
Shares of Mimecast Limited (MIME) traded up 0.93% during trading on Monday, hitting $28.19. The company’s stock had a trading volume of 310,870 shares. The company’s market capitalization is $1.59 billion. Mimecast Limited has a 1-year low of $12.40 and a 1-year high of $29.48. The firm’s 50 day moving average is $26.85 and its 200-day moving average is $23.77.
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A number of research firms have weighed in on MIME. BidaskClub cut Mimecast Limited from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Needham & Company LLC began coverage on Mimecast Limited in a report on Tuesday, July 25th. They issued a “buy” rating and a $33.00 price target for the company. Benchmark Co. upped their price target on Mimecast Limited from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Summit Redstone restated a “buy” rating and issued a $30.00 price target on shares of Mimecast Limited in a report on Thursday, April 13th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $30.00 price target on shares of Mimecast Limited in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $28.42.
Mimecast Limited Company Profile
Mimecast Limited is a provider of cloud security and risk management services for corporate information and e-mail. The Company’s suite of cloud services protects customers from the business and data security risks. It also mitigates the business disruption that e-mail failure or downtime causes. In addition, its archiving services secure, store and manage critical corporate communications and information to address the compliance and e-discovery requirements.
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