Mimecast's (MIME) Price Target Raised to $16 at Dougherty
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Dougherty & Co maintained a Buy rating on Mimecast Limited (NASDAQ: MIME) and raised its price target to $16.00 (from $12.00). Analyst Catharine Trebnick called Q1 results a "clean beat."
"Overall the print was broadly better than expected, and we believe there is still more room to run due to their numerous catalysts. Based on the strong results, we reiterate our "Buy" rating and are increasing our PT to $16 (from $12)," said Trebnick.
Shares of Mimecast Limited closed at $12.64 yesterday.
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