Analysts forecast that Mimecast Ltd (NASDAQ:MIME) will announce $108.25 million in sales for the current quarter, according to Zacks. Eight analysts have issued estimates for Mimecast’s earnings, with estimates ranging from $107.91 million to $109.50 million. Mimecast reported sales of $87.61 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 23.6%. The company is scheduled to report its next earnings report on Monday, February 10th.
On average, analysts expect that Mimecast will report full year sales of $423.58 million for the current financial year, with estimates ranging from $422.41 million to $426.00 million. For the next year, analysts expect that the business will post sales of $511.11 million, with estimates ranging from $504.25 million to $516.16 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Mimecast.
Mimecast (NASDAQ:MIME) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.11. Mimecast had a negative return on equity of 0.82% and a negative net margin of 1.67%. The company had revenue of $103.36 million for the quarter, compared to analysts’ expectations of $101.63 million. During the same period in the previous year, the firm posted $0.06 EPS. Mimecast’s revenue was up 25.8% compared to the same quarter last year.
Several research firms recently issued reports on MIME. ValuEngine upgraded Mimecast from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Dougherty & Co cut Mimecast from a “buy” rating to a “neutral” rating in a report on Friday, November 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $53.00 price objective on shares of Mimecast in a report on Friday, November 8th. Robert W. Baird reissued a “buy” rating and issued a $58.00 target price on shares of Mimecast in a research note on Monday, January 6th. Finally, BidaskClub raised shares of Mimecast from a “strong sell” rating to a “sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $55.27.
MIME stock traded up $0.25 during trading on Friday, hitting $48.80. The stock had a trading volume of 392,757 shares, compared to its average volume of 392,730. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.18 and a quick ratio of 1.18. Mimecast has a twelve month low of $32.06 and a twelve month high of $54.57. The stock has a market capitalization of $3.01 billion, a P/E ratio of -697.14, a PEG ratio of 38.62 and a beta of 1.18. The company’s 50-day moving average price is $44.17 and its two-hundred day moving average price is $42.93.
In other news, CEO Peter Bauer sold 15,000 shares of Mimecast stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $44.52, for a total transaction of $667,800.00. Following the sale, the chief executive officer now owns 140,000 shares of the company’s stock, valued at approximately $6,232,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Neil Murray sold 35,000 shares of Mimecast stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $42.96, for a total transaction of $1,503,600.00. Following the sale, the director now directly owns 1,696,665 shares in the company, valued at approximately $72,888,728.40. The disclosure for this sale can be found here. Insiders sold a total of 120,000 shares of company stock worth $5,036,850 over the last three months. Corporate insiders own 11.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in MIME. Marshall Wace LLP purchased a new stake in shares of Mimecast during the 1st quarter valued at approximately $49,000. Advisor Group Inc. raised its position in shares of Mimecast by 39.1% during the 2nd quarter. Advisor Group Inc. now owns 1,349 shares of the technology company’s stock valued at $64,000 after buying an additional 379 shares during the period. Bank of Montreal Can raised its position in shares of Mimecast by 10,205.3% during the 2nd quarter. Bank of Montreal Can now owns 132,939 shares of the technology company’s stock valued at $6,210,000 after buying an additional 131,649 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Mimecast by 21.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,500 shares of the technology company’s stock valued at $677,000 after buying an additional 2,562 shares during the period. Finally, Capital Fund Management S.A. purchased a new stake in shares of Mimecast during the 2nd quarter valued at approximately $224,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.
Mimecast Limited, a email and data security company, provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security services, including targeted threat protection services, such as URL Protect that addresses the threat from emails containing malicious links; Attachment Protect that reduces threat from weaponized or malware-laden attachments used in spear-phishing and other attacks; Impersonation Protect that gives protection from malware-less social engineering attacks; and Internal Email Protect, which allows customers to monitor, detect, and remediate security threats that originate from within their internal email systems.
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