Trade Report: Today, Analysts Set Mimecast Ltd. (NASDAQ:MIME) Target Price at $17.08

Today, Analysts Set Mimecast Ltd. (NASDAQ:MIME) Target Price at $17.08

Shares of Mimecast Ltd. (NASDAQ:MIME) have been assigned a consensus rating of “Buy” from the seven ratings firms that are covering the firm. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $17.08.

Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Mimecast from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th. Barclays PLC raised their price target on shares of Mimecast from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $15.00 price target on shares of Mimecast in a research report on Wednesday, August 3rd. Dougherty & Co raised their price target on shares of Mimecast from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Mimecast in a research report on Thursday, June 23rd.

Several hedge funds have recently modified their holdings of the stock. KCG Holdings Inc. acquired a new stake in shares of Mimecast during the second quarter valued at $162,000. Geode Capital Management LLC increased its position 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 valued at $205,000 after buying an additional 959 shares in the last quarter. Barclays PLC increased its position in shares of Mimecast by 70.2% in the first quarter. Barclays PLC now owns 29,100 shares of the company’s stock valued at $262,000 after buying an additional 12,000 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Mimecast during the first quarter valued at about $349,000. Finally, Monashee Investment Management LLC purchased a new position in shares of Mimecast during the second quarter valued at about $509,000. Institutional investors and hedge funds own 30.66% of the company’s stock.

Shares of Mimecast (NASDAQ:MIME) opened at 19.22 on Tuesday. The firm has a 50 day moving average of $16.67 and a 200 day moving average of $11.55. Mimecast has a 52 week low of $6.01 and a 52 week high of $20.10. The firm’s market cap is $1.05 billion.

Mimecast (NASDAQ:MIME) last posted its earnings results on Monday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The firm earned $41.46 million during the quarter, compared to analyst estimates of $39.85 million. During the same quarter in the previous year, the business posted ($0.04) earnings per share. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. Equities analysts predict that Mimecast will post $0.02 earnings per share for the current fiscal year.

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