Mimecast (MIME) Sets New 1-Year High and Low at $44.39

Mimecast (NASDAQ:MIME) shares hit a new 52-week high and low during trading on Monday . The stock traded as low as $44.39 and last traded at $43.35, with a volume of 2203 shares. The stock had previously closed at $43.54.

A number of research analysts recently issued reports on MIME shares. BidaskClub lowered Mimecast from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 29th. Stephens boosted their price objective on Mimecast from $42.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, May 15th. Barclays boosted their price objective on Mimecast from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, May 15th. Needham & Company LLC boosted their price objective on Mimecast from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, May 15th. Finally, ValuEngine upgraded Mimecast from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $41.10.

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -217.42, a price-to-earnings-growth ratio of 31.18 and a beta of 0.23.

Mimecast (NASDAQ:MIME) last announced its earnings results on Monday, May 14th. The technology company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The business had revenue of $73.40 million for the quarter, compared to the consensus estimate of $71.61 million. Mimecast had a negative net margin of 5.38% and a negative return on equity of 12.51%. The firm’s quarterly revenue was up 40.1% on a year-over-year basis. sell-side analysts predict that Mimecast will post 0.07 earnings per share for the current year.

In other news, CEO Peter Bauer sold 22,500 shares of the business’s stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $37.76, for a total value of $849,600.00. Following the sale, the chief executive officer now owns 34,850 shares of the company’s stock, valued at approximately $1,315,936. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Peter Andrew James Campbell sold 4,000 shares of the business’s stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $38.21, for a total value of $152,840.00. Following the completion of the sale, the chief financial officer now directly owns 252,516 shares in the company, valued at approximately $9,648,636.36. The disclosure for this sale can be found here. Insiders have sold a total of 59,000 shares of company stock worth $2,229,240 in the last ninety days.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Mimecast by 32.4% in the 1st quarter. Royal Bank of Canada now owns 331,652 shares of the technology company’s stock worth $11,751,000 after buying an additional 81,153 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Mimecast in the 1st quarter worth $7,203,000. Millennium Management LLC bought a new stake in shares of Mimecast in the 1st quarter worth $8,082,000. Cubist Systematic Strategies LLC bought a new stake in shares of Mimecast in the 1st quarter worth $359,000. Finally, Whale Rock Capital Management LLC bought a new stake in shares of Mimecast in the 1st quarter worth $29,171,000. 66.91% of the stock is currently owned by 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.

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