Mimecast Ltd (NASDAQ:MIME)’s share price fell 7.7% during trading on Tuesday . The company traded as low as $27.75 and last traded at $27.81. 687,600 shares were traded during trading, an increase of 133% from the average session volume of 295,037 shares. The stock had previously closed at $30.13.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Mimecast from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Jefferies Group reissued a “buy” rating and issued a $38.00 price target on shares of Mimecast in a research note on Friday, November 10th. Barclays boosted their price target on shares of Mimecast from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, November 9th. Oppenheimer restated a “buy” rating and issued a $35.00 price objective (up previously from $32.00) on shares of Mimecast in a report on Thursday, November 9th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $37.00 price objective (up previously from $33.00) on shares of Mimecast in a report on Thursday, November 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the stock. Mimecast has an average rating of “Buy” and an average target price of $32.83.
The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.42.
Mimecast Limited is a provider of cloud security and risk management services for corporate information and e-mail. The Company’s suite of cloud services protects customers from the business and data security risks. It also mitigates the business disruption that e-mail failure or downtime causes. In addition, its archiving services secure, store and manage critical corporate communications and information to address the compliance and e-discovery requirements.
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