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Fly News Breaks for February 11, 2020
MIME
Feb 11, 2020 | 07:06 EDT
BMO Capital analyst Keith Bachman raised his price target on Mimecast to $58 after its Q3 earnings beat and above-consensus Q4 guidance, though he warns that the stock may come under some near-term pressure as revenue guidance for FY21 implies slower growth while margins are moving higher. The analyst further states that the company's net retention rate declined in Q3. Bachman continues to see the valuation on the stock as "compelling" however and thus maintains his Outperform rating on Mimecast.
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