Mimecast Limited (MIME) PT Raised to $65 at Baird

Baird analyst Jonathan Ruykhaver raised the price target on Mimecast Limited (NASDAQ: MIME) to $65.00 while maintaining an Outperform rating.

The analyst commented, "Mimecast posted a healthy F1Q, beating consensus expectations for revenue, billings, and non-GAAP EPS. Commentary was positive around an improving macro environment, including in the UK, and the company saw revenue retention increase for the first time since the onset of the pandemic. The company also continues to see progress in driving platform adoption and moving into the enterprise. Overall, we expect Mimecast's business will continue to improve with this strengthening macro backdrop."

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