Mimecast (NASDAQ:MIME) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday, BidAskClub reports.

Several other brokerages also recently weighed in on MIME. Needham & Company LLC reiterated a “buy” rating and set a $65.00 target price (up previously from $52.00) on shares of Mimecast in a research note on Monday, May 6th. Zacks Investment Research upgraded shares of Mimecast from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Friday, February 15th. Deutsche Bank increased their target price on shares of Mimecast to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, February 12th. Royal Bank of Canada increased their target price on shares of Mimecast to $52.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 12th. Finally, Oppenheimer increased their target price on shares of Mimecast from $45.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 12th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $53.13.

Shares of MIME stock opened at $46.88 on Tuesday. Mimecast has a 1 year low of $29.67 and a 1 year high of $54.57. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -669.71, a PEG ratio of 14.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.29 and a current ratio of 1.29.

Mimecast (NASDAQ:MIME) last announced its earnings results on Monday, May 13th. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). Mimecast had a negative return on equity of 2.85% and a negative net margin of 2.06%. The business had revenue of $92.20 million for the quarter, compared to analyst estimates of $91.34 million. During the same quarter last year, the company posted ($0.05) EPS. Mimecast’s quarterly revenue was up 25.6% on a year-over-year basis. Analysts predict that Mimecast will post 0.16 earnings per share for the current year.

In related news, COO Edward Vincent Jennings sold 11,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $49.11, for a total value of $540,210.00. Following the completion of the sale, the chief operating officer now owns 12,251 shares in the company, valued at $601,646.61. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christopher Fitzgerald sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $47.42, for a total transaction of $94,840.00. Following the completion of the sale, the director now owns 23,821 shares of the company’s stock, valued at approximately $1,129,591.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 371,250 shares of company stock valued at $17,804,860. 29.00% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in MIME. Dimensional Fund Advisors LP acquired a new stake in Mimecast in the third quarter valued at about $5,329,000. LPL Financial LLC acquired a new stake in shares of Mimecast during the 3rd quarter valued at approximately $256,000. Vanguard Group Inc. acquired a new stake in shares of Mimecast during the 3rd quarter valued at approximately $368,000. Vanguard Group Inc acquired a new stake in shares of Mimecast during the 3rd quarter valued at approximately $368,000. Finally, Macnealy Hoover Investment Management Inc. lifted its position in shares of Mimecast by 9.9% during the 4th quarter. Macnealy Hoover Investment Management Inc. now owns 14,425 shares of the technology company’s stock valued at $485,000 after acquiring an additional 1,300 shares during the period. Hedge funds and other institutional investors own 64.43% 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.

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Analyst Recommendations for Mimecast (NASDAQ:MIME)

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