Mimecast Limited (NASDAQ:MIME) Expected to Announce Earnings of $0.35 Per Share

Wall Street brokerages forecast that Mimecast Limited (NASDAQ:MIMEGet Rating) will post earnings of $0.35 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Mimecast’s earnings, with estimates ranging from $0.34 to $0.35. Mimecast posted earnings per share of $0.28 in the same quarter last year, which would suggest a positive year over year growth rate of 25%. The firm is scheduled to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Mimecast will report full-year earnings of $1.46 per share for the current fiscal year, with EPS estimates ranging from $1.45 to $1.46. For the next year, analysts anticipate that the business will post earnings of $1.62 per share, with EPS estimates ranging from $1.59 to $1.64. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for Mimecast.

MIME has been the subject of several research reports. Barclays cut shares of Mimecast from an “overweight” rating to an “equal weight” rating and set a $80.00 target price for the company. in a research note on Wednesday, January 19th. UBS Group cut shares of Mimecast from an “outperform” rating to a “neutral” rating in a research note on Friday, January 14th. Zacks Investment Research cut shares of Mimecast from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. StockNews.com upgraded shares of Mimecast from a “hold” rating to a “buy” rating in a research note on Friday, May 6th. Finally, Sumitomo Mitsui Financial Group cut shares of Mimecast from an “outperform” rating to a “neutral” rating and set a $82.00 target price for the company. in a research note on Friday, January 14th. Fourteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Mimecast currently has a consensus rating of “Hold” and an average target price of $78.20.

Shares of NASDAQ MIME traded down $0.08 during mid-day trading on Monday, hitting $79.75. The company had a trading volume of 2,759,005 shares, compared to its average volume of 969,660. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.58. The business’s 50-day simple moving average is $79.59 and its 200-day simple moving average is $79.40. Mimecast has a 12 month low of $45.60 and a 12 month high of $85.48. The firm has a market cap of $5.34 billion, a P/E ratio of 113.93 and a beta of 1.35.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Mimecast by 39.0% in the third quarter. BlackRock Inc. now owns 7,919,592 shares of the technology company’s stock valued at $503,685,000 after purchasing an additional 2,222,590 shares in the last quarter. Pentwater Capital Management LP acquired a new stake in shares of Mimecast in the fourth quarter valued at approximately $114,183,000. Wellington Management Group LLP increased its holdings in shares of Mimecast by 33.1% in the third quarter. Wellington Management Group LLP now owns 2,997,916 shares of the technology company’s stock valued at $190,667,000 after purchasing an additional 744,726 shares in the last quarter. Norges Bank acquired a new stake in shares of Mimecast in the fourth quarter valued at approximately $44,235,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Mimecast by 136.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 949,825 shares of the technology company’s stock valued at $75,568,000 after purchasing an additional 548,502 shares in the last quarter. 83.55% of the stock is owned by institutional investors.

Mimecast Company Profile (Get Rating)

Mimecast Limited provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security solution, which protects against the delivery of malware, malicious URLs and attachments, spam, viruses, impersonation attacks, phishing, and spear-phishing attacks, including business email compromise, identity theft, extortion, fraud, and other attacks, while also preventing data leaks and other internal threats, as well as provides awareness training services.

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Earnings History and Estimates for Mimecast (NASDAQ:MIME)

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