Trade Report: Today, Oppenheimer Holdings Inc. Reiterates Outperform Rating for Mimecast Ltd. (MIME)

Today, Oppenheimer Holdings Inc. Reiterates Outperform Rating for Mimecast Ltd. (MIME)

Mimecast Ltd. (NASDAQ:MIME)‘s stock had its “outperform” rating reiterated by equities researchers at Oppenheimer Holdings Inc. in a research note issued to investors on Tuesday. They currently have a $25.00 target price on the stock, up from their prior target price of $20.00. Oppenheimer Holdings Inc.’s price target would suggest a potential upside of 17.15% from the stock’s current price.

MIME has been the topic of several other reports. Barclays PLC raised their price objective on shares of Mimecast from $16.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, October 3rd. Zacks Investment Research downgraded shares of Mimecast from a “buy” rating to a “hold” rating in a research report on Wednesday, November 2nd. JPMorgan Chase & Co. started coverage on shares of Mimecast in a research report on Friday, October 14th. They set an “overweight” rating on the stock. Finally, Dougherty & Co raised their price objective on shares of Mimecast from $16.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 4th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $21.07.

Shares of Mimecast (NASDAQ:MIME) traded down 0.88% during trading on Tuesday, hitting $21.34. 71,415 shares of the stock traded hands. The stock’s market cap is $1.17 billion. Mimecast has a 12 month low of $6.01 and a 12 month high of $24.00. The firm’s 50-day moving average price is $20.57 and its 200-day moving average price is $14.40.

Mimecast (NASDAQ:MIME) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.07. The firm had revenue of $44.40 million for the quarter, compared to the consensus estimate of $41.81 million. Mimecast had a negative net margin of 1.64% and a negative return on equity of 3.32%. During the same period last year, the firm earned $0.04 EPS. Analysts anticipate that Mimecast will post $0.08 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of Mimecast by 4.7% in the first quarter. Geode Capital Management LLC now owns 21,159 shares of the company’s stock worth $205,000 after buying an additional 959 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Mimecast by 22.3% in the third quarter. Wells Fargo & Company MN now owns 27,388 shares of the company’s stock worth $525,000 after buying an additional 4,994 shares in the last quarter. GSA Capital Partners LLP increased its stake in shares of Mimecast by 11.8% in the second quarter. GSA Capital Partners LLP now owns 85,008 shares of the company’s stock worth $851,000 after buying an additional 8,976 shares in the last quarter. First Mercantile Trust Co. bought a new stake in shares of Mimecast during the third quarter worth about $184,000. Finally, Barclays PLC increased its stake in shares of Mimecast by 70.2% in the first quarter. Barclays PLC now owns 29,100 shares of the company’s stock worth $262,000 after buying an additional 12,000 shares in the last quarter. Institutional investors own 36.24% of the company’s stock.

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