Robert W. Baird analyst Jonathan Ruykhaver maintained a Buy rating on Mimecast Ltd (MIME) today and set a price target of $52. The company’s shares closed yesterday at $42.82.
Ruykhaver noted:
“We view Mimecast as a secular play with optionality from new products along with industry leading tech for archiving and core defense.”
According to TipRanks.com, Ruykhaver is a top 100 analyst with an average return of 25.8% and a 80.9% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Varonis Systems, and Proofpoint Inc.
Currently, the analyst consensus on Mimecast Ltd is a Moderate Buy with an average price target of $46.
See today’s analyst top recommended stocks >>
Based on Mimecast Ltd’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $2.06 million. In comparison, last year the company had a GAAP net loss of $2.59 million.
Based on the recent corporate insider activity of 86 insiders, corporate insider sentiment is negative on the stock.
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.
