Robert W. Baird started coverage on shares of Mimecast (NASDAQ:MIME) in a research note published on Wednesday, MarketBeat reports. The brokerage issued an outperform rating and a $45.00 price target on the technology company’s stock.

A number of other equities research analysts have also recently issued reports on MIME. BidaskClub cut shares of Mimecast from a strong-buy rating to a buy rating in a research note on Tuesday, June 26th. Zacks Investment Research raised shares of Mimecast from a sell rating to a hold rating in a research note on Thursday, October 11th. Goldman Sachs Group upgraded shares of Mimecast from a neutral rating to a buy rating in a report on Wednesday, June 20th. BMO Capital Markets lowered their price target on shares of Mimecast from $48.00 to $47.00 and set an outperform rating for the company in a report on Friday, August 10th. Finally, Monness Crespi & Hardt upgraded shares of Mimecast from a neutral rating to a buy rating and set a $48.00 price target for the company in a report on Thursday, September 13th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Mimecast presently has a consensus rating of Buy and an average price target of $45.07.

Shares of Mimecast stock traded down $2.38 during trading on Wednesday, reaching $34.62. The company’s stock had a trading volume of 1,078,149 shares, compared to its average volume of 715,955. Mimecast has a 52-week low of $26.50 and a 52-week high of $46.87. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -182.21 and a beta of 0.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.41 and a current ratio of 1.41.

Mimecast (NASDAQ:MIME) last announced its quarterly earnings data on Thursday, August 9th. The technology company reported $0.04 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.04. Mimecast had a negative net margin of 5.55% and a negative return on equity of 11.41%. The company had revenue of $78.40 million during the quarter, compared to analysts’ expectations of $76.71 million. During the same quarter in the prior year, the company earned $0.01 EPS. The firm’s revenue was up 34.7% on a year-over-year basis. On average, equities research analysts forecast that Mimecast will post -0.13 earnings per share for the current fiscal year.

In other Mimecast news, CEO Peter Bauer sold 22,500 shares of the company’s stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $41.46, for a total value of $932,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter Andrew James Campbell sold 4,000 shares of the company’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $41.88, for a total transaction of $167,520.00. Following the completion of the transaction, the chief financial officer now owns 224,000 shares of the company’s stock, valued at $9,381,120. The disclosure for this sale can be found here. Insiders have sold a total of 275,726 shares of company stock valued at $11,077,135 over the last quarter. 29.00% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. raised its holdings in 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 purchasing an additional 1,457 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Mimecast in the 2nd quarter worth $215,000. Advisors Asset Management Inc. bought a new position in Mimecast in the 2nd quarter worth $238,000. Verition Fund Management LLC bought a new position in Mimecast in the 2nd quarter worth $240,000. Finally, Macnealy Hoover Investment Management Inc. bought a new position in Mimecast in the 2nd quarter worth $247,000. Institutional investors and hedge funds own 68.04% of the company’s stock.

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.

See Also: Dividend

Analyst Recommendations for Mimecast (NASDAQ:MIME)

Receive News & Ratings for Mimecast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mimecast and related companies with MarketBeat.com's FREE daily email newsletter.