Mimecast Limited (NASDAQ:MIME) had its target price upped by Barclays PLC from $31.00 to $34.00 in a report issued on Thursday morning. Barclays PLC currently has an overweight rating on the technology company’s stock.
Several other research analysts also recently commented on MIME. Oppenheimer Holdings, Inc. reissued an outperform rating and set a $32.00 price target (up from $27.00) on shares of Mimecast Limited in a research note on Tuesday, August 8th. Needham & Company LLC reissued a buy rating and set a $35.00 price target (up from $33.00) on shares of Mimecast Limited in a research note on Tuesday, August 8th. Dougherty & Co lifted their price target on shares of Mimecast Limited from $32.00 to $36.00 and gave the stock a buy rating in a research note on Monday, November 6th. Jefferies Group LLC restated a buy rating and issued a $35.00 target price (up previously from $32.00) on shares of Mimecast Limited in a report on Wednesday, August 9th. Finally, J P Morgan Chase & Co restated an overweight rating and issued a $36.00 target price (up previously from $32.00) on shares of Mimecast Limited in a report on Wednesday, August 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. The company presently has a consensus rating of Buy and a consensus target price of $32.83.
Mimecast Limited (NASDAQ MIME) traded up $0.21 during mid-day trading on Thursday, hitting $30.96. 276,500 shares of the company’s stock traded hands, compared to its average volume of 264,403. Mimecast Limited has a 52-week low of $16.75 and a 52-week high of $32.00. The company has a current ratio of 1.42, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32.
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Several institutional investors have recently modified their holdings of MIME. ETF Managers Group LLC bought a new position in shares of Mimecast Limited in the second quarter worth approximately $17,278,000. Frontier Capital Management Co. LLC bought a new stake in Mimecast Limited in the second quarter valued at $11,326,000. Columbus Circle Investors boosted its holdings in Mimecast Limited by 88.6% in the second quarter. Columbus Circle Investors now owns 728,762 shares of the technology company’s stock valued at $19,516,000 after acquiring an additional 342,405 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Mimecast Limited by 83.0% in the second quarter. Renaissance Technologies LLC now owns 684,600 shares of the technology company’s stock valued at $18,334,000 after acquiring an additional 310,500 shares in the last quarter. Finally, FMR LLC bought a new stake in Mimecast Limited in the second quarter valued at $7,983,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.
About Mimecast Limited
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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