Analysts at Wedbush began coverage on shares of Mimecast (NASDAQ:MIME) in a research note issued to investors on Thursday, The Fly reports. The firm set a “neutral” rating on the technology company’s stock.

Several other equities research analysts have also issued reports on MIME. BidaskClub raised shares of Mimecast from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 1st. Zacks Investment Research raised shares of Mimecast from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, November 16th. TheStreet raised shares of Mimecast from a “d+” rating to a “c” rating in a report on Wednesday, November 21st. ValuEngine lowered shares of Mimecast from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Monness Crespi & Hardt reduced their target price on shares of Mimecast from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, November 9th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $45.17.

Shares of NASDAQ:MIME traded up $0.74 during midday trading on Thursday, hitting $36.68. The stock had a trading volume of 248,800 shares, compared to its average volume of 381,117. The stock has a market capitalization of $2.16 billion, a PE ratio of -193.05 and a beta of 0.83. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.20. Mimecast has a fifty-two week low of $26.50 and a fifty-two week high of $46.87.

Mimecast (NASDAQ:MIME) last issued its earnings results on Thursday, November 8th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $82.17 million during the quarter, compared to analysts’ expectations of $80.77 million. Mimecast had a negative net margin of 5.44% and a negative return on equity of 10.33%. The firm’s revenue was up 30.2% compared to the same quarter last year. On average, research analysts predict that Mimecast will post -0.03 EPS for the current fiscal year.

In related news, CEO Peter Bauer sold 11,250 shares of the business’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $41.75, for a total transaction of $469,687.50. Following the transaction, the chief executive officer now owns 112,500 shares in the company, valued at approximately $4,696,875. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher Fitzgerald sold 6,000 shares of the business’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $40.98, for a total transaction of $245,880.00. Following the transaction, the director now owns 27,821 shares in the company, valued at approximately $1,140,104.58. The disclosure for this sale can be found here. Insiders sold a total of 168,934 shares of company stock worth $6,285,869 in the last 90 days. Corporate insiders own 29.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MIME. DekaBank Deutsche Girozentrale lifted its position in shares of Mimecast by 131.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,661 shares of the technology company’s stock valued at $110,000 after acquiring an additional 1,511 shares during the period. Simplex Trading LLC acquired a new position in shares of Mimecast during the 3rd quarter valued at $183,000. First Republic Investment Management Inc. acquired a new position in shares of Mimecast during the 3rd quarter valued at $203,000. PEAK6 Investments LLC acquired a new position in shares of Mimecast during the 3rd quarter valued at $210,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Mimecast during the 2nd quarter valued at $215,000. Institutional investors own 70.61% of the company’s stock.

Mimecast Company Profile

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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The Fly

Analyst Recommendations for Mimecast (NASDAQ:MIME)

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