Needham analyst Alex Henderson assigned a Buy rating to Mimecast (MIME) today and set a price target of $65.00. The company’s shares closed last Tuesday at $46.45.
According to TipRanks.com, Henderson is a top 100 analyst with an average return of 29.1% and a 68.1% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and Acacia Communications.
Mimecast has an analyst consensus of Strong Buy, with a price target consensus of $60.13, a 23.4% upside from current levels. In a report issued on January 6, Barclays also maintained a Buy rating on the stock with a $62.00 price target.
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Based on Mimecast’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $123 million and net profit of $10.05 million. In comparison, last year the company earned revenue of $103 million and had a GAAP net loss of $921K.
Based on the recent corporate insider activity of 76 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.
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. 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.
