Mimecast Ltd (MIME) Gets a Buy Rating from Robert W. Baird
In a report released today, Jonathan Ruykhaver from Robert W. Baird maintained a Buy rating on Mimecast Ltd (MIME), with a price target of $58. The company’s shares closed last Monday at $38.63.
According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 16.1% and a 61.2% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Carbon Black Inc, and Varonis Systems.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mimecast Ltd with a $54 average price target, representing a 39.0% upside. In a report released today, Rosenblatt Securities also maintained a Buy rating on the stock with a $57 price target.
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Based on Mimecast Ltd’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.01 million. In comparison, last year the company had a GAAP net loss of $3.47 million.
Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MIME in relation to earlier this year.
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Mimecast Ltd. 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.