Mimecast (NASDAQ:MIME) had its price objective raised by research analysts at Barclays from $34.00 to $36.00 in a report issued on Tuesday. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays’ price target indicates a potential upside of 8.37% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 price target (up previously from $33.00) on shares of Mimecast in a research report on Thursday, November 9th. JPMorgan Chase & Co. downgraded shares of Mimecast from an “overweight” rating to a “neutral” rating and set a $35.00 price target for the company. in a research report on Tuesday, December 12th. Zacks Investment Research downgraded shares of Mimecast from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Oppenheimer reiterated a “buy” rating and issued a $35.00 price objective on shares of Mimecast in a research note on Monday, December 18th. Finally, BMO Capital Markets initiated coverage on shares of Mimecast in a research note on Friday, January 5th. They issued an “outperform” rating and a $35.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Mimecast currently has an average rating of “Buy” and an average price target of $35.91.

Shares of Mimecast (NASDAQ:MIME) traded up $1.35 during trading hours on Tuesday, hitting $33.22. 430,000 shares of the company traded hands, compared to its average volume of 276,393. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1,826.77, a P/E ratio of -207.63 and a beta of 0.47. Mimecast has a fifty-two week low of $19.12 and a fifty-two week high of $35.00.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The business had revenue of $67.30 million during the quarter, compared to the consensus estimate of $64.92 million. Mimecast had a negative net margin of 4.16% and a negative return on equity of 11.28%. The business’s revenue for the quarter was up 39.3% on a year-over-year basis. sell-side analysts predict that Mimecast will post -0.16 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Brown Advisory Inc. increased its stake in Mimecast by 18.3% in the 4th quarter. Brown Advisory Inc. now owns 1,976,489 shares of the technology company’s stock valued at $56,666,000 after buying an additional 305,380 shares during the period. Columbus Circle Investors increased its stake in Mimecast by 35.1% in the 3rd quarter. Columbus Circle Investors now owns 984,785 shares of the technology company’s stock valued at $27,988,000 after buying an additional 256,023 shares during the period. Granahan Investment Management Inc. MA increased its stake in Mimecast by 2.9% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 582,720 shares of the technology company’s stock valued at $16,561,000 after buying an additional 16,253 shares during the period. Peregrine Capital Management LLC increased its stake in Mimecast by 0.6% in the 4th quarter. Peregrine Capital Management LLC now owns 577,305 shares of the technology company’s stock valued at $16,551,000 after buying an additional 3,419 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in Mimecast by 18.5% in the 4th quarter. UBS Asset Management Americas Inc. now owns 399,100 shares of the technology company’s stock valued at $11,442,000 after buying an additional 62,200 shares during the period. Hedge funds and other institutional investors own 58.73% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Mimecast (MIME) PT Raised to $36.00” was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States and international trademark and copyright legislation. The original version of this story can be accessed at https://www.watchlistnews.com/mimecast-mime-pt-raised-to-36-00/1863318.html.

Mimecast Company Profile

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 (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.