Mimecast Limited (NASDAQ:MIME)‘s stock had its “buy” rating reiterated by investment analysts at Royal Bank Of Canada in a note issued to investors on Wednesday. They currently have a $33.00 price objective on the technology company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 7.28% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 target price on shares of Mimecast Limited in a research report on Tuesday, September 12th. Jefferies Group LLC restated a “buy” rating and set a $35.00 price objective on shares of Mimecast Limited in a research report on Sunday, September 10th. BidaskClub downgraded Mimecast Limited from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $32.00 price objective (up from $27.00) on shares of Mimecast Limited in a research report on Tuesday, August 8th. Finally, Barclays PLC upped their price objective on Mimecast Limited from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $31.08.
Mimecast Limited (NASDAQ:MIME) last posted its earnings results on Monday, August 7th. The technology company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The company had revenue of $58.16 million for the quarter, compared to the consensus estimate of $54.96 million. Mimecast Limited had a negative return on equity of 9.67% and a negative net margin of 3.73%. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 earnings per share.
ILLEGAL ACTIVITY NOTICE: “Mimecast Limited’s (MIME) Buy Rating Reiterated at Royal Bank Of Canada” was first posted by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this article can be viewed at https://www.truebluetribune.com/2017/10/18/mimecast-limiteds-mime-buy-rating-reiterated-at-royal-bank-of-canada.html.
Hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in shares of Mimecast Limited in the second quarter worth approximately $104,000. US Bancorp DE grew its stake in Mimecast Limited by 605.2% in the first quarter. US Bancorp DE now owns 6,396 shares of the technology company’s stock worth $143,000 after purchasing an additional 5,489 shares in the last quarter. Crow Point Partners LLC bought a new position in Mimecast Limited in the second quarter worth approximately $281,000. Cubist Systematic Strategies LLC bought a new position in Mimecast Limited in the second quarter worth approximately $290,000. Finally, Goldman Sachs Group Inc. bought a new position in Mimecast Limited in the second quarter worth approximately $327,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.
Mimecast Limited Company Profile
Mimecast Limited is a provider of cloud security and risk management services for corporate information and e-mail. The Company’s suite of cloud services protects customers from the business and data security risks. It also mitigates the business disruption that e-mail failure or downtime causes. In addition, its archiving services secure, store and manage critical corporate communications and information to address the compliance and e-discovery requirements.
Receive News & Ratings for Mimecast Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mimecast Limited and related companies with MarketBeat.com's FREE daily email newsletter.