Mimecast Ltd (NASDAQ:MIME) traded down 7.7% during trading on Tuesday . The company traded as low as $27.75 and last traded at $27.81. 687,600 shares changed hands during trading, an increase of 133% from the average session volume of 295,037 shares. The stock had previously closed at $30.13.

MIME has been the topic of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $35.00 target price on shares of Mimecast in a research report on Tuesday, September 12th. Oppenheimer reissued an “outperform” rating and issued a $32.00 target price (up previously from $27.00) on shares of Mimecast in a research report on Tuesday, August 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a $33.00 target price (up previously from $30.00) on shares of Mimecast in a research report on Tuesday, August 8th. Barclays lifted their target price on Mimecast from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and issued a $36.00 target price (up previously from $32.00) on shares of Mimecast in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the stock. Mimecast presently has an average rating of “Buy” and a consensus target price of $32.83.

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.42.

Several hedge funds and other institutional investors have recently modified their holdings of MIME. Bank of America Corp DE boosted its stake in shares of Mimecast by 45.2% during the 1st quarter. Bank of America Corp DE now owns 13,111 shares of the technology company’s stock worth $294,000 after acquiring an additional 4,083 shares during the period. US Bancorp DE boosted its stake in shares of Mimecast by 11.9% during the 2nd quarter. US Bancorp DE now owns 7,155 shares of the technology company’s stock worth $192,000 after acquiring an additional 759 shares during the period. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Mimecast during the 2nd quarter worth approximately $5,266,000. First Mercantile Trust Co. boosted its stake in shares of Mimecast by 15.3% during the 2nd quarter. First Mercantile Trust Co. now owns 14,272 shares of the technology company’s stock worth $382,000 after acquiring an additional 1,897 shares during the period. Finally, State of Wisconsin Investment Board boosted its stake in shares of Mimecast by 60.8% during the 2nd quarter. State of Wisconsin Investment Board now owns 238,009 shares of the technology company’s stock worth $6,374,000 after acquiring an additional 90,000 shares during the period. Institutional investors own 58.69% of the company’s stock.

WARNING: “Mimecast (MIME) Stock Price Down 7.7%” was originally reported by Watch List News and is the sole property of of Watch List News. If you are reading this article on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark law. The correct version of this article can be read at https://www.watchlistnews.com/mimecast-mime-stock-price-down-7-7/1746197.html.

About Mimecast

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.

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