Mimecast Limited (MIME) Price Target Raised to $34.00 at Barclays PLC
Mimecast Limited (NASDAQ:MIME) had its price objective lifted by Barclays PLC from $31.00 to $34.00 in a report issued on Thursday morning. The firm currently has an overweight rating on the technology company’s stock.
A number of other analysts have also recently commented on the company. Oppenheimer Holdings, Inc. restated a buy rating and issued a $35.00 price target (up previously from $32.00) on shares of Mimecast Limited in a research report on Thursday. Royal Bank Of Canada restated an outperform rating and issued a $37.00 price target (up previously from $33.00) on shares of Mimecast Limited in a research report on Thursday. Dougherty & Co upped their price target on Mimecast Limited from $32.00 to $36.00 and gave the stock a buy rating in a research report on Monday, November 6th. Zacks Investment Research cut Mimecast Limited from a hold rating to a sell rating in a research report on Tuesday, October 10th. Finally, Needham & Company LLC restated a buy rating and issued a $35.00 price target on shares of Mimecast Limited in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $32.83.
Shares of Mimecast Limited (NASDAQ MIME) traded up $0.21 on Thursday, reaching $30.96. The company’s stock had a trading volume of 276,500 shares, compared to its average volume of 299,599. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.42. Mimecast Limited has a fifty-two week low of $16.75 and a fifty-two week high of $32.00.
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Several large investors have recently added to or reduced their stakes in MIME. Quantbot Technologies LP purchased a new stake in shares of Mimecast Limited during the second quarter worth about $104,000. US Bancorp DE grew its position in shares of Mimecast Limited by 11.9% during the second quarter. US Bancorp DE now owns 7,155 shares of the technology company’s stock worth $192,000 after purchasing an additional 759 shares in the last quarter. Bronfman E.L. Rothschild L.P. purchased a new position in Mimecast Limited during the 3rd quarter valued at approximately $200,000. Crow Point Partners LLC purchased a new position in Mimecast Limited during the 2nd quarter valued at approximately $281,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Mimecast Limited during the 2nd quarter valued at approximately $290,000. Hedge funds and other institutional investors own 53.40% of the company’s stock.
About Mimecast Limited
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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