Mimecast Limited (MIME) Issues Quarterly Earnings Results

Mimecast Limited (MIME) Issues Quarterly  Earnings Results

Mimecast Limited (NASDAQ:MIME) released its quarterly earnings data on Thursday. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.00 by $0.06. Mimecast Limited had a negative return on equity of 3.32% and a negative net margin of 1.64%. The business earned $48.33 million during the quarter, compared to analyst estimates of $45.21 million. Mimecast Limited’s quarterly revenue was up 30.2% compared to the same quarter last year.

Mimecast Limited (NASDAQ:MIME) opened at 23.06 on Friday. The firm’s 50-day moving average is $20.35 and its 200-day moving average is $18.38. The company’s market capitalization is $1.26 billion. Mimecast Limited has a 1-year low of $7.08 and a 1-year high of $24.60.

Several research analysts have recently weighed in on MIME shares. Jefferies Group LLC upped their target price on shares of Mimecast Limited to $29.00 and gave the company a “buy” rating in a research note on Thursday, November 10th. Stephens started coverage on shares of Mimecast Limited in a research note on Thursday, January 5th. They issued an “overweight” rating and a $24.00 target price for the company. Zacks Investment Research downgraded shares of Mimecast Limited from a “buy” rating to a “hold” rating in a research note on Wednesday, January 11th. Brean Capital started coverage on shares of Mimecast Limited in a research note on Wednesday, January 25th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Northland Securities started coverage on shares of Mimecast Limited in a research note on Tuesday, January 17th. They issued an “outperform” rating and a $27.00 target price for the company. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $23.39.

Large investors have recently modified their holdings of the stock. First Mercantile Trust Co. purchased a new stake in shares of Mimecast Limited during the third quarter valued at approximately $184,000. Symmetry Peak Management LLC purchased a new stake in shares of Mimecast Limited during the third quarter valued at approximately $335,000. Essex Investment Management Co. LLC purchased a new stake in shares of Mimecast Limited during the third quarter valued at approximately $506,000. Wells Fargo & Company MN increased its stake in shares of Mimecast Limited by 22.3% in the third quarter. Wells Fargo & Company MN now owns 27,388 shares of the company’s stock valued at $525,000 after buying an additional 4,994 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Mimecast Limited during the fourth quarter valued at approximately $617,000. Institutional investors own 43.29% of the company’s stock.

Mimecast Limited 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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