Mimecast (NASDAQ:MIME) had its price target hoisted by Needham & Company LLC from $40.00 to $46.00 in a research note issued to investors on Tuesday, MarketBeat reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Several other analysts also recently issued reports on the company. BidaskClub raised Mimecast from a buy rating to a strong-buy rating in a report on Saturday, March 10th. Barclays reissued a buy rating and issued a $40.00 price target on shares of Mimecast in a report on Friday, April 13th. BMO Capital Markets raised their price target on Mimecast from $35.00 to $38.00 and gave the stock an outperform rating in a report on Tuesday, February 13th. Finally, Royal Bank of Canada reissued a buy rating and issued a $38.00 price target on shares of Mimecast in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $37.60.

NASDAQ:MIME opened at $37.84 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.39 and a current ratio of 1.39. Mimecast has a 52 week low of $23.59 and a 52 week high of $39.51. The company has a market cap of $2,172.56, a price-to-earnings ratio of -378.40 and a beta of 0.24.

Mimecast (NASDAQ:MIME) last released its earnings results on Monday, February 12th. The technology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Mimecast had a negative return on equity of 9.88% and a negative net margin of 3.51%. The company had revenue of $67.30 million for the quarter, compared to the consensus estimate of $64.92 million. The company’s quarterly revenue was up 39.3% on a year-over-year basis. research analysts forecast that Mimecast will post -0.17 earnings per share for the current fiscal year.

In other Mimecast news, COO Edward Vincent Jennings sold 7,500 shares of Mimecast stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $37.84, for a total transaction of $283,800.00. Following the sale, the chief operating officer now owns 7,500 shares of the company’s stock, valued at approximately $283,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Neil Murray sold 25,000 shares of Mimecast stock in a transaction on Monday, April 23rd. The shares were sold at an average price of $37.72, for a total value of $943,000.00. Following the sale, the insider now directly owns 2,782,865 shares in the company, valued at approximately $104,969,667.80. The disclosure for this sale can be found here. In the last three months, insiders sold 59,000 shares of company stock worth $2,229,240.

A number of institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. raised its stake in Mimecast by 13.2% during the 4th quarter. Macquarie Group Ltd. now owns 204,778 shares of the technology company’s stock valued at $5,871,000 after acquiring an additional 23,906 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Mimecast during the 4th quarter valued at $2,417,000. Renaissance Technologies LLC raised its stake in Mimecast by 14.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,109,900 shares of the technology company’s stock valued at $31,821,000 after acquiring an additional 142,500 shares in the last quarter. Invictus RG raised its stake in Mimecast by 377.1% during the 4th quarter. Invictus RG now owns 23,961 shares of the technology company’s stock valued at $687,000 after acquiring an additional 18,939 shares in the last quarter. Finally, Next Century Growth Investors LLC raised its stake in Mimecast by 59.6% during the 4th quarter. Next Century Growth Investors LLC now owns 185,450 shares of the technology company’s stock valued at $5,316,000 after acquiring an additional 69,260 shares in the last quarter. 64.51% 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.

Analyst Recommendations for Mimecast (NASDAQ:MIME)

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