Mimecast Limited (NASDAQ:MIME) Short Interest Down 27.2% in March

Mimecast Limited (NASDAQ:MIMEGet Rating) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 4,060,000 shares, a decline of 27.2% from the March 15th total of 5,580,000 shares. Currently, 6.5% of the shares of the stock are short sold. Based on an average daily volume of 1,650,000 shares, the short-interest ratio is currently 2.5 days.

MIME has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Mimecast in a research report on Thursday, March 31st. They set a “buy” rating for the company. Sumitomo Mitsui Financial Group downgraded shares of Mimecast from an “outperform” rating to a “neutral” rating and set a $82.00 price objective for the company. in a report on Friday, January 14th. Barclays downgraded shares of Mimecast from an “overweight” rating to an “equal weight” rating and set a $80.00 price objective for the company. in a report on Wednesday, January 19th. UBS Group downgraded shares of Mimecast from an “outperform” rating to a “neutral” rating in a report on Friday, January 14th. Finally, Zacks Investment Research downgraded shares of Mimecast from a “buy” rating to a “hold” rating in a report on Wednesday. Fourteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $77.06.

Mimecast stock traded down $0.01 during mid-day trading on Friday, hitting $79.67. The company’s stock had a trading volume of 659,961 shares, compared to its average volume of 1,313,094. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 113.81, a price-to-earnings-growth ratio of 5.42 and a beta of 1.44. The business has a 50 day moving average price of $79.52 and a 200-day moving average price of $77.56. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.58. Mimecast has a 12 month low of $40.34 and a 12 month high of $85.48.

Mimecast (NASDAQ:MIMEGet Rating) last issued its quarterly earnings data on Thursday, February 3rd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The firm had revenue of $151.60 million during the quarter, compared to the consensus estimate of $150.02 million. Mimecast had a net margin of 8.21% and a return on equity of 11.53%. During the same period in the prior year, the firm posted $0.12 earnings per share. On average, equities research analysts expect that Mimecast will post 0.8 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of MIME. USA Financial Portformulas Corp bought a new position in shares of Mimecast during the fourth quarter valued at about $36,000. Evoke Wealth LLC bought a new position in shares of Mimecast during the fourth quarter valued at about $39,000. North Star Investment Management Corp. increased its position in shares of Mimecast by 61.5% during the fourth quarter. North Star Investment Management Corp. now owns 525 shares of the technology company’s stock valued at $42,000 after buying an additional 200 shares during the period. CWM LLC purchased a new position in shares of Mimecast during the fourth quarter valued at about $48,000. Finally, Marshall Wace LLP purchased a new position in shares of Mimecast during the first quarter valued at about $49,000. 87.37% of the stock is owned by hedge funds and other institutional investors.

About Mimecast (Get Rating)

Mimecast Limited provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security solution, which protects against the delivery of malware, malicious URLs and attachments, spam, viruses, impersonation attacks, phishing, and spear-phishing attacks, including business email compromise, identity theft, extortion, fraud, and other attacks, while also preventing data leaks and other internal threats, as well as provides awareness training services.

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