ValuEngine downgraded shares of Mimecast (NASDAQ:MIME) from a buy rating to a hold rating in a research note released on Monday, ValuEngine reports.

A number of other research analysts have also weighed in on MIME. Imperial Capital reissued an outperform rating and issued a $55.00 price objective (up from $52.00) on shares of Mimecast in a report on Tuesday, May 14th. BidaskClub lowered Mimecast from a buy rating to a hold rating in a report on Monday, July 8th. Wedbush cut their price objective on Mimecast from $50.00 to $46.00 and set a neutral rating on the stock in a report on Tuesday, August 6th. BMO Capital Markets increased their price objective on Mimecast from $52.00 to $55.00 and gave the company an outperform rating in a report on Tuesday, May 14th. Finally, Needham & Company LLC reissued a buy rating and issued a $65.00 price objective (up from $52.00) on shares of Mimecast in a report on Monday, May 6th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of Buy and a consensus target price of $55.47.

Mimecast stock opened at $42.20 on Monday. The company has a 50-day simple moving average of $47.11. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market capitalization of $2.64 billion, a PE ratio of -602.86, a PEG ratio of 41.77 and a beta of 1.12. Mimecast has a one year low of $29.67 and a one year high of $54.57.

Mimecast (NASDAQ:MIME) last announced its quarterly earnings data on Monday, August 5th. The technology company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.11. The business had revenue of $99.23 million for the quarter, compared to analyst estimates of $97.32 million. Mimecast had a negative return on equity of 2.63% and a negative net margin of 2.09%. The company’s revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.04 earnings per share. Equities research analysts predict that Mimecast will post 0.05 EPS for the current fiscal year.

In related news, COO Edward Vincent Jennings sold 11,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $42.90, for a total transaction of $471,900.00. Following the sale, the chief operating officer now directly owns 12,251 shares of the company’s stock, valued at $525,567.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Bauer sold 50,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $43.58, for a total value of $2,179,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 548,746 shares of company stock worth $25,342,531. 11.60% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC acquired a new stake in Mimecast during the second quarter worth about $32,000. First Mercantile Trust Co. grew its holdings in Mimecast by 223.4% in the first quarter. First Mercantile Trust Co. now owns 1,035 shares of the technology company’s stock valued at $49,000 after purchasing an additional 715 shares during the period. Marshall Wace LLP acquired a new stake in Mimecast in the first quarter valued at approximately $49,000. Advisor Group Inc. grew its holdings in Mimecast by 39.1% in the second quarter. Advisor Group Inc. now owns 1,349 shares of the technology company’s stock valued at $64,000 after purchasing an additional 379 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Mimecast in the second quarter valued at approximately $79,000. 72.46% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also: Does a trade war provide a risk to the global economy?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.