Berenberg Bank assumed coverage on shares of Mimecast (NASDAQ:MIME) in a report released on Friday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $59.00 price target on the technology company’s stock.

Other equities research analysts also recently issued research reports about the company. ValuEngine downgraded Mimecast from a strong-buy rating to a buy rating in a report on Tuesday, May 14th. BidaskClub downgraded Mimecast from a strong-buy rating to a buy rating in a report on Tuesday, May 14th. Wedbush reissued a neutral rating and issued a $50.00 price objective (up previously from $47.00) on shares of Mimecast in a report on Tuesday, May 14th. Imperial Capital reissued an outperform rating and issued a $55.00 price objective (up previously from $52.00) on shares of Mimecast in a report on Tuesday, May 14th. Finally, Cowen began coverage on Mimecast in a report on Thursday, May 23rd. They issued an outperform rating and a $60.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $54.31.

NASDAQ MIME opened at $43.51 on Friday. The company has a market capitalization of $2.79 billion, a PE ratio of -621.57, a P/E/G ratio of 25.86 and a beta of 1.23. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.30. Mimecast has a 12 month low of $29.67 and a 12 month high of $54.57.

Mimecast (NASDAQ:MIME) last released its quarterly earnings data on Monday, May 13th. The technology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.02). The company had revenue of $92.20 million during the quarter, compared to analyst estimates of $91.34 million. Mimecast had a negative net margin of 2.06% and a negative return on equity of 2.72%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) EPS. On average, sell-side analysts forecast that Mimecast will post 0.09 earnings per share for the current year.

In related news, CEO Peter Bauer sold 18,750 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $46.84, for a total value of $878,250.00. Following the sale, the chief executive officer now owns 46,000 shares in the company, valued at approximately $2,154,640. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Neil Murray sold 25,000 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $46.65, for a total value of $1,166,250.00. Following the completion of the sale, the insider now owns 2,307,665 shares in the company, valued at approximately $107,652,572.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 278,746 shares of company stock worth $13,090,676. 29.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. raised its stake in Mimecast by 33.6% in the 1st quarter. Advisor Group Inc. now owns 970 shares of the technology company’s stock valued at $46,000 after acquiring an additional 244 shares during the period. Roundview Capital LLC raised its stake in Mimecast by 1.3% in the 1st quarter. Roundview Capital LLC now owns 20,836 shares of the technology company’s stock valued at $987,000 after acquiring an additional 275 shares during the period. Zions Bancorporation N.A. raised its stake in Mimecast by 6.7% in the 1st quarter. Zions Bancorporation N.A. now owns 4,844 shares of the technology company’s stock valued at $229,000 after acquiring an additional 305 shares during the period. NumerixS Investment Technologies Inc raised its stake in Mimecast by 19.5% in the 1st quarter. NumerixS Investment Technologies Inc now owns 2,390 shares of the technology company’s stock valued at $114,000 after acquiring an additional 390 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in Mimecast by 4.5% in the 1st quarter. Advisors Asset Management Inc. now owns 10,386 shares of the technology company’s stock valued at $492,000 after acquiring an additional 445 shares during the period. Institutional investors and hedge funds own 72.80% 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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