RBC Capital analyst Matthew Hedberg raised his price target on Mimecast to $52 and kept his Outperform rating after its Q3 earnings beat and better than expected Q4 guidance, saying the top-line is accelerating for the 2nd consecutive year. The analyst sees the upside drivers for the stock remaining "consistent", along with added "up-market opportunity" given the record number of six-figure transactions and a seven-figure deals. Hedberg further cites the growth of the enterprise revenue segment at Mimecast to 17% of the total from 14% last year.