Mimecast Limited (NASDAQ:MIME) Receives Consensus Recommendation of “Hold” from Brokerages | #emailsecurity | #phishing | #ransomware



Mimecast Limited (NASDAQ:MIME – Get Rating) has been given an average recommendation of “Hold” by the eighteen ratings firms that are covering the firm, MarketBeat reports. Fourteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $77.64.

A number of analysts have commented on the stock. StockNews.com assumed coverage on shares of Mimecast in a report on Thursday, March 31st. They set a “buy” rating for the company. Sumitomo Mitsui Financial Group cut shares of Mimecast from an “outperform” rating to a “neutral” rating and set a $82.00 target price for the company. in a report on Friday, January 14th. Zacks Investment Research cut shares of Mimecast from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays cut shares of Mimecast from an “overweight” rating to an “equal weight” rating and set a $80.00 price objective for the company. in a research note on Wednesday, January 19th. Finally, UBS Group cut shares of Mimecast from an “outperform” rating to a “neutral” rating in a research note on Friday, January 14th.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Mimecast by 39.0% during the third quarter. BlackRock Inc. now owns 7,919,592 shares of the technology company’s stock valued at $503,685,000 after purchasing an additional 2,222,590 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Mimecast by 33.1% in the third quarter. Wellington Management Group LLP now owns 2,997,916 shares of the technology company’s stock valued at $190,667,000 after acquiring an additional 744,726 shares during the period. Macquarie Group Ltd. raised its stake in shares of Mimecast by 0.7% in the third quarter. Macquarie Group Ltd. now owns 1,861,049 shares of the technology company’s stock valued at $118,363,000 after acquiring an additional 12,324 shares during the period. Pentwater Capital Management LP purchased a new stake in shares of Mimecast in the fourth quarter valued at $114,183,000. Finally, Allianz Asset Management GmbH raised its stake in shares of Mimecast by 9.5% in the third quarter. Allianz Asset Management GmbH now owns 1,415,059 shares of the technology company’s stock valued at $89,998,000 after acquiring an additional 122,853 shares during the period. Institutional investors and hedge funds own 87.37% of the company’s stock.

MIME opened at $79.67 on Friday. Mimecast has a twelve month low of $40.34 and a twelve month high of $85.48. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 113.81, a PEG ratio of 5.42 and a beta of 1.44. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average price of $79.52 and a 200-day moving average price of $77.35.

Mimecast (NASDAQ:MIME – Get Rating) last announced its earnings results on Thursday, February 3rd. The technology company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. Mimecast had a net margin of 8.21% and a return on equity of 11.53%. The business had revenue of $151.60 million during the quarter, compared to analysts’ expectations of $150.02 million. During the same period in the prior year, the company earned $0.12 earnings per share. As a group, analysts expect that Mimecast will post 0.8 earnings per share for the current year.

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.

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Analyst Recommendations for Mimecast (NASDAQ:MIME)



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