Mimecast (NASDAQ:MIME) had its target price cut by research analysts at BMO Capital Markets from $48.00 to $47.00 in a research note issued to investors on Friday. The brokerage presently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ target price points to a potential upside of 20.57% from the stock’s current price.

A number of other research firms have also issued reports on MIME. BidaskClub lowered shares of Mimecast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Needham & Company LLC increased their price target on shares of Mimecast from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, May 15th. Goldman Sachs Group raised shares of Mimecast from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 20th. Barclays increased their price target on shares of Mimecast from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 15th. Finally, Zacks Investment Research raised shares of Mimecast from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Wednesday, July 11th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $44.00.

Shares of Mimecast traded down $1.21, hitting $38.98, during midday trading on Friday, according to Marketbeat Ratings. The stock had a trading volume of 833,553 shares, compared to its average volume of 350,509. Mimecast has a fifty-two week low of $25.12 and a fifty-two week high of $46.87. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -205.16, a PEG ratio of 28.71 and a beta of 0.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.33 and a quick ratio of 1.33.

Mimecast (NASDAQ:MIME) last announced its earnings results on Thursday, August 9th. The technology company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Mimecast had a negative net margin of 5.55% and a negative return on equity of 12.62%. The company had revenue of $78.40 million during the quarter, compared to analysts’ expectations of $76.71 million. During the same period last year, the company posted $0.01 earnings per share. The business’s revenue for the quarter was up 34.7% on a year-over-year basis. analysts anticipate that Mimecast will post 0.07 earnings per share for the current year.

In other news, VP Robert P. Nault sold 12,000 shares of the stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $44.29, for a total value of $531,480.00. Following the completion of the sale, the vice president now directly owns 12,000 shares of the company’s stock, valued at $531,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter Bauer sold 22,500 shares of the stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $42.76, for a total transaction of $962,100.00. Following the completion of the sale, the chief executive officer now directly owns 26,400 shares of the company’s stock, valued at $1,128,864. The disclosure for this sale can be found here. Insiders sold 525,113 shares of company stock valued at $22,047,715 over the last three months. 29.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. United Services Automobile Association raised its position in Mimecast by 39.8% during the second quarter. United Services Automobile Association now owns 53,740 shares of the technology company’s stock valued at $2,215,000 after acquiring an additional 15,300 shares in the last quarter. Citadel Advisors LLC raised its position in Mimecast by 130.0% during the second quarter. Citadel Advisors LLC now owns 134,314 shares of the technology company’s stock valued at $5,535,000 after acquiring an additional 75,922 shares in the last quarter. FMR LLC raised its position in Mimecast by 14.5% during the second quarter. FMR LLC now owns 1,278,693 shares of the technology company’s stock valued at $52,695,000 after acquiring an additional 161,449 shares in the last quarter. Brown Advisory Inc. raised its position in Mimecast by 0.9% during the second quarter. Brown Advisory Inc. now owns 2,023,954 shares of the technology company’s stock valued at $83,408,000 after acquiring an additional 17,156 shares in the last quarter. Finally, DE Burlo Group Inc. bought a new position in Mimecast during the second quarter valued at approximately $3,366,000. 67.20% 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.

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Analyst Recommendations for Mimecast (NASDAQ:MIME)

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