Mimecast (NASDAQ: MIME) recently received a number of ratings updates from brokerages and research firms:

  • 9/13/2018 – Mimecast was upgraded by analysts at Monness Crespi & Hardt from a “neutral” rating to a “buy” rating. They now have a $48.00 price target on the stock.
  • 9/12/2018 – Mimecast was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Mimecast Limited offers cloud security and risk management services for corporate information and email primarily in the United States, the United Kingdom and South Africa. The Company offers email management services that protect the organization against spam, viruses, malware, emerging threats, and other challenges. Mimecast Limited is headquartered in London, the United Kingdom. “
  • 9/12/2018 – Mimecast was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 9/1/2018 – Mimecast was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Mimecast Limited offers cloud security and risk management services for corporate information and email primarily in the United States, the United Kingdom and South Africa. The Company offers email management services that protect the organization against spam, viruses, malware, emerging threats, and other challenges. Mimecast Limited is headquartered in London, the United Kingdom. “
  • 8/16/2018 – Mimecast was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Mimecast Limited offers cloud security and risk management services for corporate information and email primarily in the United States, the United Kingdom and South Africa. The Company offers email management services that protect the organization against spam, viruses, malware, emerging threats, and other challenges. Mimecast Limited is headquartered in London, the United Kingdom. “
  • 8/10/2018 – Mimecast had its price target lowered by analysts at BMO Capital Markets from $48.00 to $47.00. They now have an “outperform” rating on the stock.
  • 8/10/2018 – Mimecast had its price target raised by analysts at JPMorgan Chase & Co. from $44.00 to $46.00. They now have a “neutral” rating on the stock.
  • 8/10/2018 – Mimecast had its price target raised by analysts at Deutsche Bank AG to $50.00. They now have a “buy” rating on the stock.
  • 7/31/2018 – Mimecast was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/18/2018 – Mimecast was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Mimecast Limited offers cloud security and risk management services for corporate information and email primarily in the United States, the United Kingdom and South Africa. The Company offers email management services that protect the organization against spam, viruses, malware, emerging threats, and other challenges. Mimecast Limited is headquartered in London, the United Kingdom. “

MIME traded up $1.38 during midday trading on Friday, hitting $42.07. 12,469 shares of the company’s stock traded hands, compared to its average volume of 287,523. The firm has a market cap of $2.43 billion, a PE ratio of -221.42 and a beta of 0.20. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.41 and a current ratio of 1.41. Mimecast Ltd has a one year low of $26.50 and a one year high of $46.87.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings data on Thursday, August 9th. The technology company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $78.40 million for the quarter, compared to analyst estimates of $76.71 million. Mimecast had a negative net margin of 5.55% and a negative return on equity of 11.41%. The company’s revenue for the quarter was up 34.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 earnings per share. sell-side analysts anticipate that Mimecast Ltd will post -0.13 earnings per share for the current fiscal year.

In other Mimecast news, CFO Peter Andrew James Campbell sold 37,333 shares of the stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $42.82, for a total transaction of $1,598,599.06. Following the transaction, the chief financial officer now owns 255,849 shares in the company, valued at $10,955,454.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John J. Walsh, Jr. sold 10,000 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $38.50, for a total value of $385,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 620,641 shares of company stock worth $25,547,761. Corporate insiders own 29.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new stake in shares of Mimecast in the second quarter worth $238,000. Verition Fund Management LLC acquired a new stake in shares of Mimecast in the second quarter worth $240,000. California Public Employees Retirement System grew its stake in shares of Mimecast by 32.1% in the second quarter. California Public Employees Retirement System now owns 35,058 shares of the technology company’s stock worth $1,445,000 after acquiring an additional 8,529 shares during the last quarter. Putnam Investments LLC acquired a new stake in shares of Mimecast in the second quarter worth $1,496,000. Finally, Millennium Management LLC grew its stake in shares of Mimecast by 111.6% in the second quarter. Millennium Management LLC now owns 482,758 shares of the technology company’s stock worth $19,894,000 after acquiring an additional 254,642 shares during the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

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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