Mimecast (NASDAQ:MIME) Stock Rating Upgraded by ValuEngine

Mimecast (NASDAQ:MIME) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Saturday, ValuEngine reports.

A number of other analysts have also commented on the company. Robert W. Baird set a $58.00 price target on Mimecast and gave the company a “buy” rating in a report on Sunday, September 15th. Wedbush cut their price target on Mimecast from $50.00 to $46.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. BidaskClub upgraded Mimecast from a “sell” rating to a “hold” rating in a report on Thursday, October 3rd. Finally, Rosenblatt Securities assumed coverage on Mimecast in a report on Wednesday, August 21st. They issued a “buy” rating and a $57.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $55.67.

Shares of Mimecast stock opened at $38.40 on Friday. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -548.57, a price-to-earnings-growth ratio of 61.87 and a beta of 1.17. The stock’s 50-day moving average is $38.80 and its 200-day moving average is $44.91. Mimecast has a one year low of $29.67 and a one year high of $54.57. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.20 and a quick ratio of 1.20.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings results on Monday, August 5th. The technology company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.11. The company had revenue of $99.23 million for the quarter, compared to analyst estimates of $97.32 million. Mimecast had a negative return on equity of 2.63% and a negative net margin of 2.09%. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 earnings per share. On average, equities analysts expect that Mimecast will post 0.03 EPS for the current year.

In related news, Director Hagi Schwartz sold 1,690 shares of Mimecast stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $38.40, for a total value of $64,896.00. Following the sale, the director now owns 4,205 shares of the company’s stock, valued at $161,472. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Peter Bauer sold 50,000 shares of Mimecast stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $43.58, for a total value of $2,179,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 359,572 shares of company stock worth $15,157,274. 11.60% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Macnealy Hoover Investment Management Inc. increased its position in Mimecast by 1.8% during the third quarter. Macnealy Hoover Investment Management Inc. now owns 18,075 shares of the technology company’s stock worth $645,000 after buying an additional 325 shares during the last quarter. Zions Bancorporation N.A. increased its position in Mimecast by 7.2% during the second quarter. Zions Bancorporation N.A. now owns 5,193 shares of the technology company’s stock worth $243,000 after buying an additional 349 shares during the last quarter. Advisor Group Inc. increased its position in Mimecast by 39.1% during the second quarter. Advisor Group Inc. now owns 1,349 shares of the technology company’s stock worth $64,000 after buying an additional 379 shares during the last quarter. Juncture Wealth Strategies LLC increased its position in Mimecast by 3.4% during the third quarter. Juncture Wealth Strategies LLC now owns 12,000 shares of the technology company’s stock worth $428,000 after buying an additional 395 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in Mimecast during the second quarter worth approximately $32,000. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

About Mimecast

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.

Recommended Story: Buy Rating

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.