Jefferies Group restated their buy rating on shares of Mimecast Ltd. (NASDAQ:MIME) in a report issued on Thursday morning. The firm currently has a $29.00 price objective on the stock.
“Mimecast announced it is purchasing substantially all of the assets of iSheriff, to extend threat detection and intelligence capabilities into its email security platform. This is a small (< $10M) tuck-in deal for technology and engineering talent, with no impact to guidance.",” Jefferies Group’s analyst wrote.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research raised Mimecast from a hold rating to a buy rating and set a $23.00 price target on the stock in a research report on Tuesday, November 15th. JPMorgan Chase & Co. started coverage on Mimecast in a research report on Friday, October 14th. They issued an overweight rating on the stock. Barclays PLC raised their price target on Mimecast from $16.00 to $22.00 and gave the company an overweight rating in a research report on Monday, October 3rd. Oppenheimer Holdings Inc. reaffirmed an outperform rating and issued a $20.00 price target (up from $15.00) on shares of Mimecast in a research report on Thursday, September 1st. Finally, Dougherty & Co raised their price target on Mimecast from $16.00 to $23.00 and gave the company a buy rating in a research report on Friday, November 4th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $21.07.
Shares of Mimecast (NASDAQ:MIME) opened at 21.46 on Thursday. The stock’s 50 day moving average price is $20.71 and its 200-day moving average price is $14.70. Mimecast has a 12 month low of $6.01 and a 12 month high of $24.00. The firm’s market capitalization is $1.18 billion.
Mimecast (NASDAQ:MIME) last posted its earnings results on Wednesday, November 9th. The company reported $0.05 EPS for the quarter, topping 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 in the prior year, the business posted $0.04 earnings per share. On average, equities analysts anticipate that Mimecast will post $0.08 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in MIME. Credit Suisse AG purchased a new stake in Mimecast during the third quarter worth $434,000. Jane Street Group LLC purchased a new stake in Mimecast during the third quarter worth $355,000. Symmetry Peak Management LLC purchased a new stake in Mimecast during the third quarter worth $335,000. UBS Oconnor LLC purchased a new stake in Mimecast during the third quarter worth $691,000. Finally, Two Sigma Advisers LP purchased a new stake in Mimecast during the third quarter worth $484,000. 43.58% of the stock is currently owned by institutional investors and hedge funds.