Needham Sticks to Its Buy Rating for Mimecast (MIME)

By Jason Carr

Needham analyst Alex Henderson maintained a Buy rating on Mimecast (MIMEResearch Report) today and set a price target of $65.00. The company’s shares closed last Monday at $49.05.

According to TipRanks.com, Henderson is a 5-star analyst with an average return of 16.6% and a 57.7% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Lumentum Holdings, Ceragon Networks, and Extreme Networks.

Currently, the analyst consensus on Mimecast is a Strong Buy with an average price target of $60.40, a 20.8% 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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The company has a one-year high of $54.57 and a one-year low of $34.62. Currently, Mimecast has an average volume of 426.6K.

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.