Mimecast (NASDAQ:MIME) had its price objective boosted by Rosenblatt Securities from $57.00 to $63.00 in a report released on Tuesday, BenzingaRatingsTable reports. The firm currently has a buy rating on the technology company’s stock.

A number of other analysts have also recently commented on the stock. Dougherty & Co cut shares of Mimecast from a buy rating to a neutral rating in a research report on Friday, November 8th. ValuEngine upgraded Mimecast from a sell rating to a hold rating in a report on Friday, January 3rd. Needham & Company LLC reiterated a buy rating and set a $65.00 target price on shares of Mimecast in a report on Friday, November 8th. Zacks Investment Research upgraded Mimecast from a hold rating to a buy rating and set a $56.00 target price for the company in a report on Tuesday, January 21st. Finally, BidaskClub upgraded Mimecast from a buy rating to a strong-buy rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $58.43.

MIME opened at $49.02 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.45. Mimecast has a 12 month low of $34.62 and a 12 month high of $54.57. The company has a fifty day simple moving average of $48.72 and a 200 day simple moving average of $43.37. The stock has a market cap of $3.06 billion, a P/E ratio of -445.64, a P/E/G ratio of 42.60 and a beta of 1.14.

Mimecast (NASDAQ:MIME) last released its quarterly earnings data on Monday, February 10th. The technology company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.02. Mimecast had a negative net margin of 1.64% and a negative return on equity of 0.67%. The business had revenue of $110.16 million during the quarter, compared to analysts’ expectations of $108.12 million. During the same quarter in the prior year, the company earned $0.09 EPS. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. On average, equities research analysts expect that Mimecast will post 0.06 earnings per share for the current fiscal year.

In related news, CEO Peter Bauer sold 15,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $44.52, for a total value of $667,800.00. Following the completion of the sale, the chief executive officer now directly owns 140,000 shares in the company, valued at approximately $6,232,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Neil Murray sold 35,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $43.09, for a total transaction of $1,508,150.00. Following the completion of the sale, the director now owns 1,661,665 shares of the company’s stock, valued at $71,601,144.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 120,000 shares of company stock valued at $5,424,650. Company insiders own 11.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE increased its stake in Mimecast by 3.0% in the fourth quarter. US Bancorp DE now owns 22,424 shares of the technology company’s stock valued at $973,000 after acquiring an additional 644 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Mimecast by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 51,294 shares of the technology company’s stock valued at $2,226,000 after buying an additional 806 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Mimecast by 9.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,804 shares of the technology company’s stock valued at $425,000 after buying an additional 884 shares in the last quarter. Marshall Wace LLP acquired a new stake in Mimecast in the first quarter valued at approximately $49,000. Finally, Michael & Susan Dell Foundation boosted its position in Mimecast by 11.3% in the third quarter. Michael & Susan Dell Foundation now owns 10,860 shares of the technology company’s stock valued at $387,000 after buying an additional 1,106 shares in the last quarter. 71.52% of the stock is currently owned by institutional investors.

Mimecast Company Profile

Mimecast Limited, a email and data security company, provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security services, including targeted threat protection services, such as URL Protect that addresses the threat from emails containing malicious links; Attachment Protect that reduces threat from weaponized or malware-laden attachments used in spear-phishing and other attacks; Impersonation Protect that gives protection from malware-less social engineering attacks; and Internal Email Protect, which allows customers to monitor, detect, and remediate security threats that originate from within their internal email systems.

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Analyst Recommendations for Mimecast (NASDAQ:MIME)

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