Mimecast Limited’s (MIME) Buy Rating Reiterated at Royal Bank Of Canada

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.

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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.

Analyst Recommendations for Mimecast Limited (NASDAQ:MIME)

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