Barclays Says Its Time To “Overweight” Mimecast (NASDAQ:MIME). Will Stock Hit Their Target of $13.0?

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Why Has Barclays Given Mimecast (NASDAQ:MIME) a $13.0 Price Target

In a note issued to clients on Monday, 14 December, Barclays analyst has today have begun coverage for Mimecast (NASDAQ:MIME) shares with a “Overweight” rating. The Estimated Target Price is $13.0.

The stock decreased 4.03% or $0.42 on December 14, striking $10. Approximately 350,635 shares of stock traded hands. Mimecast Ltd (NASDAQ:MIME) has risen 6.00% since November 14, 2015 and is uptrending. It has outperformed by 10.42% the S&P500.

Mimecast Limited is a United Kingdom business e-mail and data safety solutions provider. The company has a market cap of $562.74 million. The Firm offers solutions for e-mail security; archiving, risk and compliance; business continuity; migration, and employee productivity and mobility. It has 71.47 P/E ratio. The Company’s products consist of Mimecast Secure Email Gateway, which is offered for spam and virus protection, content control and data leak prevention, targeted threat protection, file send, secure messaging, and advanced e-mail signature and disclaimer management; Mimecast Mailbox Continuity, which is offered for continuity services, and Mimecast Enterprise Information Archiving, which is offered for file archiving, legacy archive data management and Lync Instant messaging Archiving.

According to Zacks Investment Research, “Mimecast Limited offers cloud security and risk management services for corporate information and email primarily in the United States, the United Kingdom and South Africa. The Company offers email management services that protect the organization against spam, viruses, malware, emerging threats, and other challenges. Mimecast Limited is headquartered in London, the United Kingdom.”

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