In a report released today, Shaul Eyal from Oppenheimer reiterated a Buy rating on Mimecast Ltd (NASDAQ: MIME), with a price target of $45. The company’s shares closed yesterday at $40.19.
Eyal wrote:
“For its June-quarter F19, MIME posted $0.04/78M (revs. +35%) vs. consensus $0.04/77M estimates. Strong momentum prompted MIME to reaffirm full-year revenue guidance despite FX headwinds. It logged several impressive wins, demonstrating strong demand for its offerings. Expanding its solutions portfolio, MIME initiated an early-adopter program for a Web Security solution and introduced a Security Awareness Training service. In July, expanding its technological capabilities, MIME acquired Israel-based provider of threat detection technology, for $88M and bought Maryland-based provider of security awareness training (price not disclosed). $45 target.”
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 15.3% and a 66.7% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, Verint Systems Inc, and Varonis Systems.
Mimecast Ltd has an analyst consensus of Strong Buy, with a price target consensus of $48.44.
See today’s analyst top recommended stocks >>
Based on Mimecast Ltd’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $8.25 million. In comparison, last year the company had a GAAP net loss of $1.9 million.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MIME in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Mimecast Ltd. (Jersey) engages in the provision of cloud security and risk management services for corporate information and email. It develops in suite of cloud services designed to offer cyber resilience for email and deliver comprehensive email risk management beyond the primary mail server.
