Needham & Company LLC reiterated their buy rating on shares of Mimecast (NASDAQ:MIME) in a research report released on Tuesday, AnalystRatings.com reports. Needham & Company LLC currently has a $65.00 target price on the technology company’s stock.

MIME has been the subject of several other reports. Dougherty & Co downgraded Mimecast from a buy rating to a neutral rating in a research note on Friday, November 8th. Robert W. Baird reiterated a buy rating and set a $60.00 target price on shares of Mimecast in a report on Tuesday. BMO Capital Markets reiterated an outperform rating and set a $58.00 target price on shares of Mimecast in a report on Tuesday. They noted that the move was a valuation call. Jefferies Financial Group increased their target price on Mimecast from $57.00 to $60.00 and gave the company a buy rating in a report on Tuesday. Finally, ValuEngine upgraded Mimecast from a sell rating to a hold rating in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $58.43.

NASDAQ MIME traded up $2.65 during mid-day trading on Tuesday, hitting $49.02. The stock had a trading volume of 1,278,833 shares, compared to its average volume of 717,776. Mimecast has a 52-week low of $34.62 and a 52-week high of $54.57. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -445.64, a P/E/G ratio of 42.60 and a beta of 1.14. The company has a 50 day simple moving average of $48.62 and a 200 day simple moving average of $43.38. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.45.

Mimecast (NASDAQ:MIME) last released its quarterly earnings data on Monday, February 10th. The technology company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. Mimecast had a negative return on equity of 0.67% and a negative net margin of 1.64%. The firm had revenue of $110.16 million during the quarter, compared to the consensus estimate of $108.12 million. During the same period last year, the business posted $0.09 EPS. Mimecast’s quarterly revenue was up 25.7% on a year-over-year basis. As a group, equities analysts anticipate that Mimecast will post 0.06 earnings per share for the current fiscal year.

In other Mimecast news, Director Neil Murray sold 35,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $42.96, for a total transaction of $1,503,600.00. Following the sale, the director now owns 1,696,665 shares in the company, valued at approximately $72,888,728.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Peter Bauer sold 15,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $44.52, for a total value of $667,800.00. Following the sale, the chief executive officer now owns 140,000 shares in the company, valued at approximately $6,232,800. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,000 shares of company stock worth $5,424,650. 11.60% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of MIME. Marshall Wace LLP acquired a new stake in shares of Mimecast during the first quarter worth $49,000. Silvant Capital Management LLC acquired a new stake in shares of Mimecast during the fourth quarter worth $89,000. NumerixS Investment Technologies Inc boosted its holdings in shares of Mimecast by 80.1% during the fourth quarter. NumerixS Investment Technologies Inc now owns 3,118 shares of the technology company’s stock worth $135,000 after purchasing an additional 1,387 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Mimecast by 193.8% during the fourth quarter. Citigroup Inc. now owns 3,526 shares of the technology company’s stock worth $153,000 after purchasing an additional 2,326 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Mimecast during the third quarter worth $166,000. Institutional investors and hedge funds own 71.52% 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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