Price Action Alert: What’s Next for Mimecast Ltd After Making Record High?

Price Action Alert: What's Next for Mimecast Ltd After Making Record High?

The stock of Mimecast Ltd (NASDAQ:MIME) reached all time high today, Nov, 29 and still has $22.74 target or 5.00% above today’s $21.66 share price. This indicates more upside for the $1.19B company. This technical setup was reported by Barchart.com. If the $22.74 PT is reached, the company will be worth $59.50 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 26,322 shares traded hands. Mimecast Ltd (NASDAQ:MIME) has risen 147.81% since April 26, 2016 and is uptrending. It has outperformed by 142.55% the S&P500.

Analysts await Mimecast Ltd (NASDAQ:MIME) to report earnings on February, 13. They expect $-0.03 EPS, 0.00% or $0.00 from last year’s $-0.03 per share. After $0.01 actual EPS reported by Mimecast Ltd for the previous quarter, Wall Street now forecasts -400.00% negative EPS growth.

Mimecast Ltd (NASDAQ:MIME) Ratings Coverage

Out of 7 analysts covering Mimecast (NASDAQ:MIME), 7 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $25.50 is the highest target while $12 is the lowest. The $18.25 average target is -15.74% below today’s ($21.66) stock price. Mimecast has been the topic of 8 analyst reports since December 14, 2015 according to StockzIntelligence Inc. The company was initiated on Monday, December 14 by Barclays Capital. The rating was initiated by Jefferies on Monday, December 14 with “Buy”. The stock has “Overweight” rating given by JP Morgan on Friday, October 14. The stock of Mimecast Ltd (NASDAQ:MIME) has “Buy” rating given on Friday, June 3 by Dougherty & Company. RBC Capital Markets initiated the stock with “Outperform” rating in Monday, December 14 report. The rating was initiated by Oppenheimer with “Outperform” on Monday, December 14. As per Monday, December 14, the company rating was initiated by Goldman Sachs. The stock has “Buy” rating given by Dougherty & Company on Friday, November 4.

According to Zacks Investment Research, “Mimecast Limited offers cloud security and risk management services for corporate information and email primarily in the United States, the United Kingdom and South Africa. The Company offers email management services that protect the organization against spam, viruses, malware, emerging threats, and other challenges. Mimecast Limited is headquartered in London, the United Kingdom.”

More news for Mimecast Ltd (NASDAQ:MIME) were recently published by: Marketwatch.com, which released: “Mimecast Ltd. NASDAQ: MIME” on October 24, 2015. Seekingalpha.com‘s article titled: “IPO Preview: Mimecast Ltd.” and published on November 19, 2015 is yet another important article.

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