Jefferies took its Mimecast [MIME] rating to the equivalent of Hold from Buy, and the price target to $55.0, in a research note dated 2021-01-11. That figure represents around a 5.02% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with Summit Insights’s analysts downgrading the shares from “a Buy” rating to “a Hold” rating in a research note to investors issued in late September. Meanwhile, Loop Capital had launched its coverage on MIME with “Buy”, in a research note produced for clients September 09, 2020. In addition, there was no change from Monness Crespi & Hardt on August 04, 2020. The rater maintained MIME to “a Buy” but assigned new target price of $56.
Is Mimecast Limited [NASDAQ:MIME] a Good Buy Right Now?
It should be noted that MIME technical indicators for short, intermediate as well as long term progress have placed an overall average of 80% as Buy. The average signal changed from 88% Buy in the last week and compares with 56% Buy in the past month. Data from Mimecast Limited’s Trend Spotter indicated that the signals were Bullish. The stock current average is 0.7 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.59 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.58 million shares.
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MIME Price Performance
On Wall Street, Mimecast Limited [NASDAQ:MIME] finished Friday’s session up 4.91% at $52.37. The stock went up to $52.90 at the same session while its lowest single day price was $50.18. In the last five days, it saw a fall of about -7.86%, Mimecast Limited shares dropped by almost -7.86% since the beginning of the year. However, the share price has dropped to as low as -11.95% below its one year high. On 01/04/21, the company shares recorded $56.21, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $49.13. The company’s shares have inclined by 7.87% in the past year. The 50-day SMA achieved is $47.11 while the 200-day SMA is $43.69. Volume gained to 0.7 million from 0.61 million in the previous session.
Mimecast Limited [MIME] Valuation Measures
Notably, Mimecast Limited [MIME] stock cannot be classified as a good candidate in the listing of underestimated low-priced Software – Infrastructure companies to purchase soonest possible with the prevailing 12-month PE ratio of 212.02. The measure means the stock is exchanging at a premium as compared to the 32.29x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 6.90 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.97 which means MIME serve an unattractive investment opportunity compared to its competitors.
MIME Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 50.73 level, and in case of violation of this particular level, it will cause more drop to 49.10 level. On the upper level, 54.54 is still the key resistance. The stock may increase to the subsequent resistance at 53.45. The Relative Strength Index (RSI) pinned on the 14-day chart is 52.85, implying a neutral technical stance while the MACD stands at -4.52, meaning price will decrease in the next trading period. Percent R indicator moved to 68.70%, implying low price movement. Stochastic %K at 15.81% suggest selling the stock.
What is the short interest in Mimecast Limited?
Short interest in the Mimecast Limited stock has plunged, decreasing by 30000.0 shares to total 2.7 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.67 million, data from Yahoo Finance shows. The increase of 1.11% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 4.60% of the overall float for the stock.
Mimecast Limited’s Biggest Shareholders: Who Owns Mimecast Limited [MIME]?
Filings by Wellington Management Co. LLP showed that the firm now holds a total of 5,884,034 shares or roughly 9.21% of the outstanding MIME shares. This means their shares have increased by 345,392 from the 5,884,034 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, BlackRock Fund Advisors updated stake is worth $147,287,865. Details in the latest 13F filings reveal that Brown Advisory LLC acquired their 2.52% stake valued at $136,224,224 while Meritage Group LP added theirs at $107,779,682. During the last quarter, Brown Advisory LLC raised 74,313 of its shares in Mimecast Limited while Meritage Group LP bought 579,716 shares. The Columbia Wanger Asset Management’s holdings currently number 1,968,863 shares at $103109355.31. According to the firm’s last 13F report, First Trust Advisors LP shares in the company at filing stood at 1,662,691 shares, roughly $74,787,841.
MIME Earnings Forecast For The Current Quarter
Mimecast Limited [MIME] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $126.68M and an earnings per share of $0.24 for Dec 2020. Looking further ahead, the company is expected to report revenue of $128.1M at an EPS of $0.16 for Mar 2021. The estimates represent 16.20% and 4.91% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
MIME Earnings Estimates For The Current Year
For the financial year, Mimecast Limited [NASDAQ:MIME] is expected to bring in revenue of $492.94M. The returns are nearly $65.98 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 0.94, higher than that of FY20 by $0.44. Estimates put this year’s earnings growth at 88.00%, 4.30% for the next, and at an annual 39.00% over the next 5-year period. As for sales, forecasts are for an increase of 15.50% in the current fiscal year and a further 16.20% over the following year.