Barclays PLC Increases Mimecast Limited (MIME) Price Target to $34.00
Mimecast Limited (NASDAQ:MIME) had its price objective lifted by research analysts at Barclays PLC from $31.00 to $34.00 in a research note issued on Thursday. The firm presently has an “overweight” rating on the technology company’s stock. Barclays PLC’s target price would indicate a potential upside of 9.82% from the stock’s current price.
Other analysts have also recently issued reports about the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $30.00 price objective on shares of Mimecast Limited in a report on Monday, July 31st. Needham & Company LLC initiated coverage on Mimecast Limited in a report on Tuesday, July 25th. They set a “buy” rating and a $33.00 price target on the stock. BidaskClub lowered Mimecast Limited from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Jefferies Group LLC restated a “buy” rating and set a $35.00 price target on shares of Mimecast Limited in a report on Sunday, September 10th. Finally, Dougherty & Co increased their price target on Mimecast Limited from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $32.83.
Shares of Mimecast Limited (NASDAQ:MIME) traded up $0.21 on Thursday, hitting $30.96. The stock had a trading volume of 276,500 shares, compared to its average volume of 264,403. Mimecast Limited has a twelve month low of $16.75 and a twelve month high of $32.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.42.
A number of institutional investors have recently made changes to their positions in MIME. Wells Fargo & Company MN grew its position in Mimecast Limited by 51.3% in the 1st quarter. Wells Fargo & Company MN now owns 19,355 shares of the technology company’s stock valued at $433,000 after acquiring an additional 6,561 shares during the last quarter. JPMorgan Chase & Co. grew its position in Mimecast Limited by 15.8% in the 1st quarter. JPMorgan Chase & Co. now owns 17,497 shares of the technology company’s stock valued at $392,000 after acquiring an additional 2,385 shares during the last quarter. Bank of America Corp DE grew its position in Mimecast Limited by 45.2% in the 1st quarter. Bank of America Corp DE now owns 13,111 shares of the technology company’s stock valued at $294,000 after acquiring an additional 4,083 shares during the last quarter. Crow Point Partners LLC bought a new position in Mimecast Limited in the 2nd quarter valued at $281,000. Finally, US Bancorp DE grew its position in Mimecast Limited by 11.9% in the 2nd quarter. US Bancorp DE now owns 7,155 shares of the technology company’s stock valued at $192,000 after acquiring an additional 759 shares during the last quarter. 52.85% of the stock is currently owned by institutional investors.
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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