Analysts forecast that Mimecast Limited (NASDAQ:MIME – Get Rating) will report $153.95 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Mimecast’s earnings. The highest sales estimate is $154.63 million and the lowest is $153.26 million. Mimecast reported sales of $133.89 million during the same quarter last year, which indicates a positive year over year growth rate of 15%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Mimecast will report full-year sales of $595.33 million for the current fiscal year, with estimates ranging from $594.64 million to $596.01 million. For the next year, analysts expect that the business will report sales of $697.84 million, with estimates ranging from $687.56 million to $708.11 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Mimecast.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Mimecast from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th. UBS Group downgraded shares of Mimecast from an “outperform” rating to a “neutral” rating in a research report on Friday, January 14th. Sumitomo Mitsui Financial Group downgraded shares of Mimecast from an “outperform” rating to a “neutral” rating and set a $82.00 price target for the company. in a research report on Friday, January 14th. Barclays downgraded shares of Mimecast from an “overweight” rating to an “equal weight” rating and set a $80.00 price target for the company. in a research report on Wednesday, January 19th. Finally, StockNews.com raised shares of Mimecast from a “hold” rating to a “buy” rating in a research report on Friday, May 6th. Fourteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mimecast currently has a consensus rating of “Hold” and a consensus price target of $77.06.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Mimecast by 39.0% in the 3rd quarter. BlackRock Inc. now owns 7,919,592 shares of the technology company’s stock worth $503,685,000 after purchasing an additional 2,222,590 shares in the last quarter. Wellington Management Group LLP lifted its stake in Mimecast by 33.1% in the 3rd quarter. Wellington Management Group LLP now owns 2,997,916 shares of the technology company’s stock worth $190,667,000 after purchasing an additional 744,726 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Mimecast by 0.7% in the 3rd quarter. Macquarie Group Ltd. now owns 1,861,049 shares of the technology company’s stock worth $118,363,000 after purchasing an additional 12,324 shares in the last quarter. Pentwater Capital Management LP purchased a new stake in Mimecast in the 4th quarter worth $114,183,000. Finally, Allianz Asset Management GmbH lifted its stake in Mimecast by 9.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,415,059 shares of the technology company’s stock worth $89,998,000 after purchasing an additional 122,853 shares in the last quarter. Institutional investors and hedge funds own 83.55% of the company’s stock.
Shares of MIME opened at $79.58 on Wednesday. The firm has a market capitalization of $5.33 billion, a PE ratio of 113.69 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.58. The company has a 50-day simple moving average of $79.57 and a two-hundred day simple moving average of $79.27. Mimecast has a one year low of $42.59 and a one year high of $85.48.
Mimecast Company Profile (Get Rating)
Mimecast Limited provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security solution, which protects against the delivery of malware, malicious URLs and attachments, spam, viruses, impersonation attacks, phishing, and spear-phishing attacks, including business email compromise, identity theft, extortion, fraud, and other attacks, while also preventing data leaks and other internal threats, as well as provides awareness training services.
Get a free copy of the Zacks research report on Mimecast (MIME)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.