Mimecast (MIME) Stock Rating Reaffirmed by Wedbush

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Mimecast (NASDAQ:MIME)‘s stock had its “neutral” rating restated by analysts at Wedbush in a research report issued to clients and investors on Tuesday, RTT News reports. They currently have a $50.00 target price on the technology company’s stock, up from their prior target price of $47.00. Wedbush’s target price points to a potential upside of 8.58% from the company’s previous close. Wedbush also issued estimates for Mimecast’s Q1 2021 earnings at $0.02 EPS, Q2 2021 earnings at $0.06 EPS, Q3 2021 earnings at $0.08 EPS and Q4 2021 earnings at $0.11 EPS.

MIME has been the topic of several other research reports. Monness Crespi & Hardt restated a “buy” rating and issued a $52.00 price objective (up previously from $45.00) on shares of Mimecast in a research note on Tuesday, February 12th. ValuEngine upgraded Mimecast from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Bank of America began coverage on Mimecast in a research note on Friday, April 12th. They issued a “buy” rating and a $60.00 price objective on the stock. Imperial Capital restated an “outperform” rating and issued a $55.00 price objective (up previously from $52.00) on shares of Mimecast in a research note on Tuesday. Finally, BMO Capital Markets upped their price objective on Mimecast from $43.00 to $52.00 and gave the company an “outperform” rating in a research note on Tuesday, February 12th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $53.13.

MIME opened at $46.05 on Tuesday. Mimecast has a 52-week low of $29.67 and a 52-week high of $54.57. The stock has a market cap of $2.87 billion, a P/E ratio of -657.86, a P/E/G ratio of 14.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.29 and a current ratio of 1.29.

Mimecast (NASDAQ:MIME) last released its quarterly earnings data on Monday, May 13th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). The business had revenue of $92.20 million during the quarter, compared to the consensus estimate of $91.34 million. Mimecast had a negative net margin of 2.06% and a negative return on equity of 2.85%. Mimecast’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. Equities research analysts predict that Mimecast will post 0.16 EPS for the current year.

In other news, COO Edward Vincent Jennings sold 11,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $45.76, for a total transaction of $503,360.00. Following the transaction, the chief operating officer now owns 11,000 shares in the company, valued at $503,360. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Peter Andrew James Campbell sold 70,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $48.23, for a total value of $3,376,100.00. Following the transaction, the chief financial officer now owns 50,000 shares in the company, valued at approximately $2,411,500. The disclosure for this sale can be found here. In the last quarter, insiders have sold 371,250 shares of company stock worth $17,804,860. 29.00% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Roundview Capital LLC boosted its holdings in shares of Mimecast by 3.9% during the 4th quarter. Roundview Capital LLC now owns 20,561 shares of the technology company’s stock valued at $691,000 after acquiring an additional 781 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Mimecast by 1,011.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 245,636 shares of the technology company’s stock valued at $8,260,000 after acquiring an additional 223,526 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Mimecast during the 4th quarter valued at $192,000. HarbourVest Partners LLC acquired a new stake in shares of Mimecast during the 4th quarter valued at $789,000. Finally, Polar Capital LLP boosted its holdings in shares of Mimecast by 52.1% during the 4th quarter. Polar Capital LLP now owns 946,401 shares of the technology company’s stock valued at $31,827,000 after acquiring an additional 324,017 shares in the last quarter. 64.43% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Mimecast (NASDAQ:MIME)

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