Robert W. Baird Reaffirms “Buy” Rating for Mimecast (NASDAQ:MIME)
Robert W. Baird reiterated their buy rating on shares of Mimecast (NASDAQ:MIME) in a research report report published on Tuesday morning, AnalystRatings.com reports. They currently have a $60.00 price objective on the technology company’s stock.
Several other research firms have also weighed in on MIME. ValuEngine upgraded shares of Mimecast from a sell rating to a hold rating in a report on Friday, January 3rd. Monness Crespi & Hardt lifted their target price on shares of Mimecast from $55.00 to $58.00 and gave the company a buy rating in a report on Monday, January 13th. Zacks Investment Research upgraded shares of Mimecast from a hold rating to a buy rating and set a $56.00 target price on the stock in a report on Tuesday, January 21st. BMO Capital Markets restated an outperform rating and set a $53.00 target price on shares of Mimecast in a report on Friday, November 8th. Finally, Dougherty & Co lowered shares of Mimecast from a buy rating to a neutral rating in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $58.43.
Shares of NASDAQ:MIME traded up $2.65 during midday trading on Tuesday, hitting $49.02. 1,278,833 shares of the company’s stock traded hands, compared to its average volume of 717,776. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market cap of $2.88 billion, a PE ratio of -445.64, a P/E/G ratio of 42.60 and a beta of 1.14. The firm’s fifty day moving average price is $48.62 and its two-hundred day moving average price is $43.38. Mimecast has a twelve month low of $34.62 and a twelve month high of $54.57.
In other Mimecast news, CEO Peter Bauer sold 15,000 shares of the business’s 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 transaction, the chief executive officer now owns 140,000 shares in the company, valued at approximately $6,232,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neil Murray sold 35,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $49.86, for a total transaction of $1,745,100.00. Following the completion of the transaction, the director now owns 1,626,665 shares in the company, valued at approximately $81,105,516.90. The disclosure for this sale can be found here. Insiders sold a total of 120,000 shares of company stock worth $5,424,650 in the last quarter. 11.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of MIME. Marshall Wace LLP bought a new stake in shares of Mimecast in the 1st quarter worth about $49,000. Silvant Capital Management LLC bought a new stake in shares of Mimecast in the 4th quarter worth about $89,000. NumerixS Investment Technologies Inc increased its position in shares of Mimecast by 80.1% in the 4th 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. increased its position in shares of Mimecast by 193.8% in the 4th 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 bought a new stake in shares of Mimecast in the 3rd quarter worth about $166,000. Hedge funds and other institutional investors own 71.52% 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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