RBC Capital Believes Mimecast Ltd (NASDAQ: MIME) Still Has Room to Grow

By Jason Carr

In a report released today, Matthew Hedberg from RBC Capital reiterated a Buy rating on Mimecast Ltd (NASDAQ: MIME), with a price target of $38. The company’s shares opened today at $33.01, close to its 52-week high of $35.05.

According to TipRanks.com, Hedberg is a top 25 analyst with an average return of 26.5% and a 75.9% success rate. Hedberg covers the Technology sector, focusing on stocks such as Automatic Data Processing, Interactive Intelligence, and Altair Engineering Inc.

Currently, the analyst consensus on Mimecast Ltd is Strong Buy and the average price target is $37.86, representing a 14.7% upside.

In a report released today, BMO Capital also reiterated a Buy rating on the stock with a $38 price target.

The company has a one-year high of $35.05 and a one-year low of $19.12. Currently, Mimecast Ltd has an average volume of 274.4K.

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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.