Mimecast (NASDAQ:MIME) had its target price raised by analysts at BMO Capital Markets from $35.00 to $38.00 in a report issued on Tuesday, Marketbeat reports. The firm presently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 10.66% from the company’s current price.
Several other research analysts have also commented on the stock. BidaskClub lowered shares of Mimecast from a “buy” rating to a “hold” rating in a report on Saturday, January 20th. Deutsche Bank assumed coverage on shares of Mimecast in a report on Tuesday, December 19th. They issued a “buy” rating and a $35.00 price objective for the company. Oppenheimer restated a “buy” rating and issued a $35.00 price objective on shares of Mimecast in a report on Monday, December 18th. JPMorgan Chase & Co. lowered shares of Mimecast from an “overweight” rating to a “neutral” rating and set a $35.00 price objective for the company. in a report on Tuesday, December 12th. Finally, Zacks Investment Research lowered shares of Mimecast from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $36.00.
Mimecast (NASDAQ:MIME) opened at $34.34 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.39 and a quick ratio of 1.42. Mimecast has a 1-year low of $19.12 and a 1-year high of $35.05.
Several institutional investors have recently modified their holdings of MIME. JPMorgan Chase & Co. increased its stake in shares of Mimecast by 96.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 34,302 shares of the technology company’s stock worth $919,000 after acquiring an additional 16,805 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Mimecast by 27.1% in the 2nd quarter. Wells Fargo & Company MN now owns 24,600 shares of the technology company’s stock worth $659,000 after acquiring an additional 5,245 shares in the last quarter. New York State Common Retirement Fund bought a new position in shares of Mimecast in the 2nd quarter worth about $472,000. Northern Trust Corp increased its stake in shares of Mimecast by 71.7% in the 2nd quarter. Northern Trust Corp now owns 36,315 shares of the technology company’s stock worth $973,000 after acquiring an additional 15,168 shares in the last quarter. Finally, FMR LLC bought a new position in shares of Mimecast in the 2nd quarter worth about $7,983,000. Institutional investors own 58.73% of the company’s stock.
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Mimecast Company Profile
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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