StockNews.com Lowers Mimecast (NASDAQ:MIME) to Hold

Mimecast (NASDAQ:MIMEGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Several other brokerages also recently weighed in on MIME. Barclays downgraded shares of Mimecast from an “overweight” rating to an “equal weight” rating and set a $80.00 target price for the company. in a research note on Wednesday, January 19th. Sumitomo Mitsui Financial Group downgraded Mimecast from an “outperform” rating to a “neutral” rating and set a $82.00 target price for the company. in a research note on Friday, January 14th. Zacks Investment Research cut Mimecast from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Finally, UBS Group lowered Mimecast from an “outperform” rating to a “neutral” rating in a research note on Friday, January 14th. Fifteen analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Mimecast has a consensus rating of “Hold” and an average target price of $77.06.

Shares of NASDAQ MIME opened at $79.72 on Thursday. The stock has a fifty day moving average price of $79.54 and a 200 day moving average price of $78.47. The company has a market cap of $5.34 billion, a P/E ratio of 113.89, a P/E/G ratio of 5.18 and a beta of 1.44. Mimecast has a 12-month low of $40.97 and a 12-month high of $85.48. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.14.

Mimecast (NASDAQ:MIMEGet Rating) last posted its earnings results on Thursday, February 3rd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $151.60 million during the quarter, compared to analyst estimates of $150.02 million. Mimecast had a return on equity of 11.53% and a net margin of 8.21%. During the same quarter last year, the firm earned $0.12 earnings per share. On average, sell-side analysts forecast that Mimecast will post 0.8 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Diversified Trust Co grew its position in shares of Mimecast by 70.5% during the 4th quarter. Diversified Trust Co now owns 12,121 shares of the technology company’s stock valued at $964,000 after buying an additional 5,013 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Mimecast by 9.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,415,059 shares of the technology company’s stock valued at $89,998,000 after purchasing an additional 122,853 shares during the period. Schonfeld Strategic Advisors LLC grew its stake in Mimecast by 318.4% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 20,500 shares of the technology company’s stock worth $1,304,000 after buying an additional 15,600 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Mimecast by 43.9% in the third quarter. BNP Paribas Arbitrage SA now owns 102,842 shares of the technology company’s stock worth $6,541,000 after buying an additional 31,386 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in Mimecast in the fourth quarter valued at $2,948,000. Institutional investors own 87.37% of the company’s stock.

Mimecast Company Profile (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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Analyst Recommendations for Mimecast (NASDAQ:MIME)

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