Mimecast (NASDAQ:MIME) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Other research analysts also recently issued research reports about the company. BMO Capital Markets increased their price target on Mimecast from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday. Royal Bank of Canada reissued a “buy” rating and issued a $38.00 price target on shares of Mimecast in a report on Tuesday. Needham & Company LLC increased their price target on Mimecast from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday. Deutsche Bank began coverage on Mimecast in a report on Tuesday, December 19th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Barclays increased their price target on Mimecast from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. Mimecast has a consensus rating of “Buy” and a consensus price target of $36.00.

Shares of Mimecast (MIME) opened at $34.34 on Thursday. The stock has a market capitalization of $1,970.00 and a PE ratio of -202.00. Mimecast has a 12 month low of $19.12 and a 12 month high of $35.05. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.32.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $67.30 million during the quarter, compared to the consensus estimate of $64.92 million. Mimecast had a negative return on equity of 10.16% and a negative net margin of 3.51%. The business’s quarterly revenue was up 39.3% compared to the same quarter last year. analysts expect that Mimecast will post -0.16 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in MIME. Garelick Capital Partners LP bought a new position in Mimecast during the 4th quarter worth approximately $19,577,000. Brown Advisory Inc. lifted its holdings in Mimecast by 23.1% during the 3rd quarter. Brown Advisory Inc. now owns 1,671,109 shares of the technology company’s stock worth $47,492,000 after buying an additional 313,455 shares during the last quarter. FMR LLC bought a new position in Mimecast during the 2nd quarter worth approximately $7,983,000. Columbus Circle Investors lifted its holdings in Mimecast by 35.1% during the 3rd quarter. Columbus Circle Investors now owns 984,785 shares of the technology company’s stock worth $27,988,000 after buying an additional 256,023 shares during the last quarter. Finally, TCW Group Inc. lifted its holdings in Mimecast by 133.2% during the 3rd quarter. TCW Group Inc. now owns 374,783 shares of the technology company’s stock worth $10,651,000 after buying an additional 214,058 shares during the last quarter. 58.73% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Mimecast (NASDAQ:MIME)

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