Mimecast may be worth $80 to $118 a share in potential sale, analyst says

Oct. 28, 2021 10:49 AM ETMimecast Limited (MIME)By: Joshua Fineman, SA News Editor

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  • Mimecast Ltd (NASDAQ:MIME) may be worth $80 to $118/share in a possible takeout after an earlier report that the company is considering a sale.
  • Based on Thoma Bravo's recent acquisition of Proofpoint, Mimecast could see a takeout range of range of 8x - 12x EV/CY22 sales, according to Stephens analyst Brian Colley. Proofpoint was valued at 10x in its takeout.
  • The WSJ report earlier speculated that Proofpoint could be a potential acquirer of Mimecast (MIME).
  • Stephens reiterates his overweight rating on Mimecast and raises his price target to $81 from $71.
  • Mimecast (MIME) rose 6.8%.
  • Mimecast (MIME) is expected to report results on Tuesday.

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