After BMO Capital and Oppenheimer gave Mimecast Ltd (NASDAQ: MIME) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Matthew Hedberg reiterated a Buy rating on Mimecast Ltd yesterday and set a price target of $48. The company’s shares opened today at $38.12.
According to TipRanks.com, Hedberg is a top 25 analyst with an average return of 33.5% and a 81.8% success rate. Hedberg covers the Technology sector, focusing on stocks such as Altair Engineering Inc, Varonis Systems, and Citrix Systems.
Currently, the analyst consensus on Mimecast Ltd is a Strong Buy with an average price target of $48.50, which is a 27.2% upside from current levels. In a report released today, Oppenheimer also reiterated a Buy rating on the stock with a $45 price target.
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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.
