Barclays Sticks to Its Buy Rating for Mimecast Ltd

By Austin Angelo

In a report released yesterday, Saket Kalia from Barclays maintained a Buy rating on Mimecast Ltd (NASDAQ: MIME), with a price target of $40. The company’s shares opened today at $38.01, close to its 52-week high of $39.33.

According to TipRanks.com, Kalia is a 4-star analyst with an average return of 13.6% and a 59.5% success rate. Kalia covers the Technology sector, focusing on stocks such as Nuance Communications, Varonis Systems, and Carbonite Inc.

Mimecast Ltd has an analyst consensus of Strong Buy, with a price target consensus of $39.

The company has a one-year high of $39.33 and a one-year low of $22.20. Currently, Mimecast Ltd has an average volume of 306.7K.

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Mimecast Ltd. engages in the provision of cloud security and risk management services for corporate information and email. It operates through the following geographical segments: United States, United Kingdom, South Africa, and Other. It develops proprietary cloud architecture to offer email security, continuity and archiving capabilities.