Jefferies Group LLC Reaffirms Buy Rating for Mimecast Ltd (MIME)
Mimecast Ltd (NASDAQ:MIME)‘s stock had its “buy” rating reaffirmed by investment analysts at Jefferies Group LLC in a note issued to investors on Wednesday. They currently have a $35.00 price objective on the technology company’s stock. Jefferies Group LLC’s target price points to a potential upside of 20.23% from the company’s current price.
Other analysts have also issued reports about the company. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $32.00 target price (up from $27.00) on shares of Mimecast in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 target price (up from $33.00) on shares of Mimecast in a research report on Tuesday. Barclays PLC boosted their target price on Mimecast from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday. BidaskClub lowered Mimecast from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Finally, Royal Bank Of Canada boosted their target price on Mimecast from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $30.00.
Mimecast (NASDAQ:MIME) traded down 2.32% on Wednesday, hitting $29.11. The company had a trading volume of 341,293 shares. The stock’s 50-day moving average price is $27.02 and its 200 day moving average price is $23.86. The company’s market capitalization is $1.64 billion. Mimecast has a one year low of $12.50 and a one year high of $30.06.
Mimecast (NASDAQ:MIME) last issued its earnings results on Monday, August 7th. The technology company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. Mimecast had a negative return on equity of 9.04% and a negative net margin of 3.27%. The business had revenue of $58.16 million during the quarter, compared to analyst estimates of $54.96 million. During the same period in the previous year, the company posted $0.04 EPS. The firm’s revenue was up 40.3% compared to the same quarter last year. On average, analysts expect that Mimecast will post $0.06 EPS for the current fiscal year.
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A number of hedge funds have recently modified their holdings of MIME. JPMorgan Chase & Co. raised its stake in shares of Mimecast by 96.0% in the second quarter. JPMorgan Chase & Co. now owns 34,302 shares of the technology company’s stock worth $919,000 after buying an additional 16,805 shares in the last quarter. Airain ltd raised its stake in shares of Mimecast by 1.8% in the second quarter. Airain ltd now owns 16,906 shares of the technology company’s stock worth $453,000 after buying an additional 294 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Mimecast during the second quarter worth approximately $2,719,000. Columbus Circle Investors raised its stake in shares of Mimecast by 88.6% in the second quarter. Columbus Circle Investors now owns 728,762 shares of the technology company’s stock worth $19,516,000 after buying an additional 342,405 shares in the last quarter. Finally, Redwood Investments LLC bought a new stake in shares of Mimecast during the second quarter worth approximately $4,172,000. 47.95% of the stock is owned by hedge funds and other institutional investors.
Mimecast 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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