After Barclays and RBC Capital gave Mimecast (NASDAQ: MIME) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Shaul Eyal reiterated a Buy rating on Mimecast today and set a price target of $53.00. The company’s shares closed last Tuesday at $43.71.
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 21.4% and a 71.6% success rate. Eyal covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Nuance Communications, and Ping Identity Holding.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mimecast with a $56.81 average price target, implying a 31.2% upside from current levels. In a report issued on July 28, Jefferies also maintained a Buy rating on the stock with a $50.00 price target.
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The company has a one-year high of $54.40 and a one-year low of $25.14. Currently, Mimecast has an average volume of 943.1K.
Based on the recent corporate insider activity of 68 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. Its products allow to secure and stores corporate communications and information to address compliance and e-discovery requirements. The company was founded by Peter Cyril Bauer and Neil Hamilton Murray in 2003 and is headquartered in London, the United Kingdom.
