Mimecast Limited (NASDAQ:MIME) had its price objective raised by Dougherty & Co from $32.00 to $36.00 in a research note issued on Monday. The firm currently has a “buy” rating on the technology company’s stock. Dougherty & Co’s target price points to a potential upside of 13.42% from the company’s previous close.

A number of other research analysts also recently issued reports on MIME. Needham & Company LLC restated a “buy” rating and issued a $35.00 price target (up previously from $33.00) on shares of Mimecast Limited in a research report on Tuesday, August 8th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $32.00 price target (up previously from $27.00) on shares of Mimecast Limited in a research report on Tuesday, August 8th. Barclays PLC boosted their price target on shares of Mimecast Limited from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Jefferies Group LLC 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 Wednesday, August 9th. Finally, J P Morgan Chase & Co restated an “overweight” rating and issued a $36.00 price target (up previously from $32.00) on shares of Mimecast Limited in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $31.75.

Mimecast Limited (NASDAQ:MIME) traded up $0.68 during trading hours on Monday, reaching $31.74. 82,699 shares of the company traded hands, compared to its average volume of 274,261. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.41 and a current ratio of 1.41. Mimecast Limited has a twelve month low of $16.75 and a twelve month high of $32.00.

Mimecast Limited (NASDAQ:MIME) last posted its earnings results on Monday, August 7th. The technology company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. The business had revenue of $58.16 million for the quarter, compared to the consensus estimate of $54.96 million. Mimecast Limited had a negative net margin of 3.73% and a negative return on equity of 9.67%. The firm’s revenue was up 40.3% compared to the same quarter last year. During the same period last year, the company earned $0.04 EPS. analysts expect that Mimecast Limited will post -0.13 earnings per share for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in MIME. Wells Fargo & Company MN increased its stake in Mimecast Limited by 51.3% during the 1st quarter. Wells Fargo & Company MN now owns 19,355 shares of the technology company’s stock valued at $433,000 after purchasing an additional 6,561 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Mimecast Limited by 15.8% during the 1st quarter. JPMorgan Chase & Co. now owns 17,497 shares of the technology company’s stock valued at $392,000 after purchasing an additional 2,385 shares in the last quarter. Bank of America Corp DE increased its stake in Mimecast Limited by 45.2% during the 1st quarter. Bank of America Corp DE now owns 13,111 shares of the technology company’s stock valued at $294,000 after purchasing an additional 4,083 shares in the last quarter. Crow Point Partners LLC bought a new stake in Mimecast Limited during the 2nd quarter valued at $281,000. Finally, US Bancorp DE increased its stake in Mimecast Limited by 11.9% during the 2nd quarter. US Bancorp DE now owns 7,155 shares of the technology company’s stock valued at $192,000 after purchasing an additional 759 shares in the last quarter. Institutional investors and hedge funds own 52.85% 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.

Analyst Recommendations for Mimecast Limited (NASDAQ:MIME)

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