Mimecast (NASDAQ:MIME) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

MIME has been the topic of several other reports. Deutsche Bank lifted their target price on Mimecast to $50.00 and gave the stock a “buy” rating in a report on Friday, August 10th. JPMorgan Chase & Co. lifted their target price on Mimecast from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. Zacks Investment Research downgraded Mimecast from a “hold” rating to a “sell” rating in a report on Thursday, August 16th. Goldman Sachs Group raised Mimecast from a “neutral” rating to a “buy” rating in a report on Wednesday, June 20th. Finally, Barclays reaffirmed an “overweight” rating and set a $47.00 target price (up from $40.00) on shares of Mimecast in a report on Thursday, May 31st. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $44.33.

NASDAQ MIME opened at $40.69 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52. Mimecast has a twelve month low of $26.50 and a twelve month high of $46.87.

Mimecast (NASDAQ:MIME) last announced its earnings results on Thursday, August 9th. The technology company reported $0.04 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. The firm had revenue of $78.40 million for the quarter, compared to the consensus estimate of $76.71 million. Mimecast had a negative return on equity of 11.41% and a negative net margin of 5.55%. The business’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 EPS. equities analysts expect that Mimecast will post -0.13 earnings per share for the current fiscal year.

In other news, VP John J. Walsh, Jr. sold 6,118 shares of Mimecast stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $38.50, for a total value of $235,543.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hagi Schwartz sold 2,170 shares of Mimecast stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $39.83, for a total value of $86,431.10. Following the completion of the transaction, the director now directly owns 2,082 shares of the company’s stock, valued at $82,926.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 620,641 shares of company stock valued at $25,547,761. Corporate insiders own 29.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Sei Investments Co. raised its position in shares of Mimecast by 72.3% in the 1st quarter. Sei Investments Co. now owns 3,473 shares of the technology company’s stock worth $123,000 after acquiring an additional 1,457 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Mimecast in the 2nd quarter worth about $215,000. Advisors Asset Management Inc. bought a new position in shares of Mimecast in the 2nd quarter worth about $238,000. Verition Fund Management LLC bought a new position in shares of Mimecast in the 2nd quarter worth about $240,000. Finally, Macnealy Hoover Investment Management Inc. bought a new position in shares of Mimecast in the 2nd quarter worth about $247,000. 68.05% of the stock is owned by hedge funds and other institutional investors.

About Mimecast

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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