Jefferies Believes MIME Won’t Stop Here

By Jason Carr

Jefferies analyst John Difucci reiterated a Buy rating on Mimecast Ltd. (NASDAQ: MIME) yesterday and set a price target of $29. The company’s shares closed yesterday at $21.53, close to its 52-week high of $24.

Difucci wrote:

“Mimecast announced it is purchasing substantially all of the assets of iSheriff, to extend threat detection and intelligence capabilities into its email security platform. This is a small (< $10M) tuck-in deal for technology and engineering talent, with no impact to guidance."

According to TipRanks.com, Difucci is a 5-star analyst with an average return of 8.1% and a 54.7% success rate. Difucci covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, CommVault Systems, and AVG Technologies.

Currently, the analyst consensus on Mimecast Ltd. is Strong Buy and the average price target is $26.83, representing a 24.6% upside.

In a report issued on November 10, Oppenheimer also reiterated a Buy rating on the stock with a $25 price target.

The company has a one year high of $24 and a one year low of $6.01. Currently, Mimecast Ltd. has an average volume of 304.7K.

Mimecast Ltd. provides cloud security and risk management services for corporate information and email. It develops proprietary cloud architecture to offer email security, continuity and archiving capabilities. The company’s archiving services secure, store and manage critical corporate communications and information to address compliance and e-discovery requirements. Mimecast was founded by Peter Bauer and Neil Murray in 2003 and is headquartered in London, the United Kingdom.