Zacks: Brokerages Anticipate Mimecast (MIME) to Post -$0.01 Earnings Per Share

Wall Street analysts expect Mimecast (NASDAQ:MIME) to post earnings per share of ($0.01) for the current quarter, according to Zacks. Five analysts have issued estimates for Mimecast’s earnings, with the highest EPS estimate coming in at $0.01 and the lowest estimate coming in at ($0.04). The firm is expected to announce its next earnings report on Tuesday, May 8th.

According to Zacks, analysts expect that Mimecast will report full-year earnings of $0.02 per share for the current financial year, with EPS estimates ranging from ($0.01) to $0.05. For the next financial year, analysts expect that the company will post earnings of $0.16 per share, with EPS estimates ranging from $0.01 to $0.23. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Mimecast.

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Mimecast (NASDAQ:MIME) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The business had revenue of $67.30 million during the quarter, compared to the consensus estimate of $64.92 million. Mimecast had a negative net margin of 3.51% and a negative return on equity of 9.88%. The business’s revenue for the quarter was up 39.3% on a year-over-year basis.

Several equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Mimecast from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 10th. Barclays reaffirmed a “buy” rating and set a $40.00 price objective on shares of Mimecast in a research report on Friday. BMO Capital Markets lifted their price objective on shares of Mimecast from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 13th. Royal Bank of Canada reaffirmed a “buy” rating and set a $38.00 price objective on shares of Mimecast in a research report on Tuesday, February 13th. Finally, Needham & Company LLC lifted their price objective on shares of Mimecast from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $37.00.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allianz Asset Management GmbH purchased a new stake in Mimecast in the fourth quarter valued at $420,000. Cubist Systematic Strategies LLC lifted its position in Mimecast by 94.7% in the third quarter. Cubist Systematic Strategies LLC now owns 21,050 shares of the technology company’s stock valued at $598,000 after acquiring an additional 10,238 shares during the last quarter. Invictus RG lifted its position in Mimecast by 377.1% in the fourth quarter. Invictus RG now owns 23,961 shares of the technology company’s stock valued at $687,000 after acquiring an additional 18,939 shares during the last quarter. California Public Employees Retirement System lifted its position in Mimecast by 22.5% in the third quarter. California Public Employees Retirement System now owns 34,413 shares of the technology company’s stock valued at $978,000 after acquiring an additional 6,313 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Mimecast by 28.4% in the fourth quarter. Geode Capital Management LLC now owns 44,509 shares of the technology company’s stock valued at $1,276,000 after acquiring an additional 9,850 shares during the last quarter. 64.56% of the stock is owned by hedge funds and other institutional investors.

Shares of Mimecast stock traded up $0.31 during trading on Monday, hitting $37.66. 33,033 shares of the stock were exchanged, compared to its average volume of 302,457. The stock has a market cap of $2,159.27, a P/E ratio of -376.60 and a beta of 0.24. Mimecast has a 12-month low of $22.20 and a 12-month high of $39.33. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.41.

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Mimecast Company Profile

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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Earnings History and Estimates for Mimecast (NASDAQ:MIME)

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