Mimecast (MIME) Lifted to “Buy” at Summit Insights

Mimecast (NASDAQ:MIME) was upgraded by investment analysts at Summit Insights from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

MIME has been the topic of several other reports. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $52.00 target price (up from $45.00) on shares of Mimecast in a report on Tuesday. ValuEngine raised Mimecast from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. BMO Capital Markets boosted their price objective on Mimecast from $43.00 to $52.00 and gave the stock an “outperform” rating in a research note on Tuesday. Jefferies Financial Group boosted their price objective on Mimecast to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, BidaskClub raised Mimecast from a “hold” rating to a “buy” rating in a research note on Saturday, November 3rd. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Mimecast presently has an average rating of “Buy” and an average target price of $49.79.

Shares of MIME stock opened at $49.83 on Tuesday. Mimecast has a 12-month low of $29.67 and a 12-month high of $51.66. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $2.54 billion, a PE ratio of -262.26 and a beta of 1.00.

Mimecast (NASDAQ:MIME) last issued its earnings results on Monday, February 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.04). Mimecast had a negative return on equity of 10.33% and a negative net margin of 5.44%. The firm had revenue of $87.61 million during the quarter, compared to the consensus estimate of $84.80 million. As a group, analysts predict that Mimecast will post -0.03 EPS for the current year.

In other Mimecast news, Director Christopher Fitzgerald sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $35.83, for a total transaction of $71,660.00. Following the completion of the transaction, the director now owns 25,821 shares in the company, valued at $925,166.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Edward Vincent Jennings sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, December 24th. The shares were sold at an average price of $29.98, for a total value of $224,850.00. Following the transaction, the chief operating officer now owns 7,500 shares of the company’s stock, valued at approximately $224,850. The disclosure for this sale can be found here. Insiders have sold 290,909 shares of company stock valued at $10,895,546 in the last 90 days. Company insiders own 29.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. purchased a new stake in shares of Mimecast in the fourth quarter valued at approximately $72,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Mimecast by 131.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,661 shares of the technology company’s stock valued at $110,000 after purchasing an additional 1,511 shares during the period. Simplex Trading LLC purchased a new stake in shares of Mimecast in the third quarter valued at approximately $183,000. First Republic Investment Management Inc. purchased a new stake in shares of Mimecast in the third quarter valued at approximately $203,000. Finally, PEAK6 Investments LLC purchased a new stake in shares of Mimecast in the third quarter valued at approximately $210,000. Hedge funds and other institutional investors own 71.42% of the company’s stock.

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.

Further Reading: How Do Front-End Loads Impact an Investment?

The Fly

Analyst Recommendations for Mimecast (NASDAQ:MIME)

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.

Leave a Reply