Mimecast (MIME) reported another strong Q3 with revenue and margins both coming in ahead of expectations. However, the stock has traded down ~15% over the past few weeks since reporting earnings. Despite the strong quarter, management provided an early look into FY21 guidance with revenue growth of 18-20% constant currency, which was pretty close to where estimates were. The company has a history of guiding above expectations, so the in-line guidance seemed to be a bit of a shock.
Q3 revenue grew 27% which was above expectations. In addition, the company saw both