Brokerages Anticipate Mimecast Limited (MIME) Will Post Quarterly Sales of $60.05 Million
Equities analysts expect Mimecast Limited (NASDAQ:MIME) to report $60.05 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Mimecast Limited’s earnings. The lowest sales estimate is $60.00 million and the highest is $60.11 million. Mimecast Limited reported sales of $44.36 million in the same quarter last year, which would suggest a positive year over year growth rate of 35.4%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Mimecast Limited will report full-year sales of $60.05 million for the current year, with estimates ranging from $249.00 million to $250.17 million. For the next year, analysts expect that the firm will post sales of $295.36 million per share, with estimates ranging from $273.72 million to $309.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Mimecast Limited.
Mimecast Limited (NASDAQ:MIME) last released its earnings results on Monday, August 7th. The technology company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. The firm had revenue of $58.16 million for the quarter, compared to analysts’ expectations of $54.96 million. Mimecast Limited had a negative net margin of 3.73% and a negative return on equity of 9.67%. Mimecast Limited’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter last year, the company earned $0.04 EPS.
Several analysts have weighed in on MIME shares. Zacks Investment Research cut Mimecast Limited from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Royal Bank Of Canada reiterated a “buy” rating and issued a $30.00 price objective on shares of Mimecast Limited in a research report on Monday, July 31st. BidaskClub upgraded Mimecast Limited from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Jefferies Group LLC reiterated a “buy” rating and issued a $35.00 price objective on shares of Mimecast Limited in a research report on Sunday, September 10th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $36.00 price target (up previously from $32.00) on shares of Mimecast Limited in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the stock. Mimecast Limited currently has an average rating of “Buy” and an average price target of $30.46.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC purchased a new position in shares of Mimecast Limited during the second quarter valued at approximately $805,000. Castleark Management LLC boosted its position in Mimecast Limited by 46.9% in the second quarter. Castleark Management LLC now owns 325,403 shares of the technology company’s stock worth $8,714,000 after purchasing an additional 103,948 shares during the last quarter. Susquehanna International Group LLP purchased a new position in Mimecast Limited in the second quarter worth $502,000. Arrowstreet Capital Limited Partnership boosted its position in Mimecast Limited by 21.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 425,518 shares of the technology company’s stock worth $11,395,000 after purchasing an additional 75,998 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Mimecast Limited in the second quarter worth $290,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.
Mimecast Limited (NASDAQ:MIME) traded up 0.74% during trading on Monday, hitting $27.20. 64,319 shares of the stock traded hands. The firm’s 50-day moving average is $27.40 and its 200 day moving average is $25.16. Mimecast Limited has a 52 week low of $14.53 and a 52 week high of $30.10. The stock’s market cap is $1.54 billion.
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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