Wall Street analysts forecast that Mimecast (NASDAQ:MIME) will post sales of $71.38 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Mimecast’s earnings. The highest sales estimate is $71.57 million and the lowest is $71.00 million. Mimecast posted sales of $52.41 million in the same quarter last year, which suggests a positive year over year growth rate of 36.2%. The company is scheduled to issue its next quarterly earnings results after the market closes on Monday, May 14th.
On average, analysts expect that Mimecast will report full-year sales of $259.97 million for the current year, with estimates ranging from $259.77 million to $260.07 million. For the next year, analysts expect that the company will post sales of $316.81 million per share, with estimates ranging from $310.00 million to $327.44 million. Zacks’ sales averages are an average based on a survey of analysts that follow Mimecast.
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Mimecast (NASDAQ:MIME) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Mimecast had a negative net margin of 3.51% and a negative return on equity of 9.88%. The firm had revenue of $67.30 million for the quarter, compared to the consensus estimate of $64.92 million. The business’s revenue was up 39.3% on a year-over-year basis.
Several brokerages have recently weighed in on MIME. BidaskClub upgraded shares of Mimecast from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. ValuEngine upgraded shares of Mimecast from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Needham & Company LLC increased their price objective on shares of Mimecast from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, April 24th. Barclays reiterated a “buy” rating and issued a $40.00 price objective on shares of Mimecast in a research note on Friday, April 13th. Finally, BMO Capital Markets increased their price objective on shares of Mimecast from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $37.60.
Shares of Mimecast traded up $0.44, hitting $42.38, during trading on Friday, MarketBeat reports. The company’s stock had a trading volume of 10,989 shares, compared to its average volume of 235,749. Mimecast has a 12 month low of $41.16 and a 12 month high of $42.86. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $2.39 billion, a PE ratio of -423.80 and a beta of 0.23.
In other Mimecast news, CFO Peter Andrew James Campbell sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 23rd. The shares were sold at an average price of $38.21, for a total transaction of $152,840.00. Following the sale, the chief financial officer now owns 252,516 shares in the company, valued at approximately $9,648,636.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Neil Murray sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, April 23rd. The stock was sold at an average price of $37.72, for a total transaction of $943,000.00. Following the sale, the insider now owns 2,782,865 shares in the company, valued at approximately $104,969,667.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,000 shares of company stock worth $2,229,240.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Peregrine Capital Management LLC raised its stake in Mimecast by 0.6% during the 4th quarter. Peregrine Capital Management LLC now owns 577,305 shares of the technology company’s stock worth $16,551,000 after acquiring an additional 3,419 shares during the period. American Century Companies Inc. raised its position in shares of Mimecast by 2.8% during the fourth quarter. American Century Companies Inc. now owns 193,162 shares of the technology company’s stock valued at $5,538,000 after buying an additional 5,187 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Mimecast by 1.6% during the fourth quarter. Bank of New York Mellon Corp now owns 391,621 shares of the technology company’s stock valued at $11,229,000 after buying an additional 6,041 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Mimecast by 22.5% during the third quarter. California Public Employees Retirement System now owns 34,413 shares of the technology company’s stock valued at $978,000 after buying an additional 6,313 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Mimecast by 28.4% during the fourth quarter. Geode Capital Management LLC now owns 44,509 shares of the technology company’s stock valued at $1,276,000 after buying an additional 9,850 shares during the last quarter. Institutional investors own 64.61% of the company’s stock.
Mimecast Company Profile
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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