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Furthermore, insiders at MIME have sold $1.1 million of stock over the past 12 months. This, combined with its overvaluation, might lead to price decline in the near term. MIME’s 7.69x forward Price/Sales is 85.9% higher than the 4.13x industry average.
However, because the need for cybersecurity solutions is rising with the increasing use of cloud platforms for remote working and ongoing digital transformation, the cybersecurity industry should witness solid growth. Organizations worldwide are spending heavily on cybersecurity solutions to protect critical data. The global cybersecurity market size is expected to grow at a 9.7% CAGR to $345.4 billion by 2026.
