In a report released today, Jonathan Ruykhaver from Robert W. Baird maintained a Buy rating on Mimecast (MIME), with a price target of $60.00. The company’s shares closed last Monday at $53.56, close to its 52-week high of $54.57.
According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 20.0% and a 74.5% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies, Varonis Systems, and NortonLifeLock.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mimecast with a $58.86 average price target, implying an 11.9% upside from current levels. In a report issued on January 30, SunTrust Robinson also maintained a Buy rating on the stock with a $63.00 price target.
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Based on Mimecast’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $921K. In comparison, last year the company had a net profit of $458K.
Based on the recent corporate insider activity of 84 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.
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