How Analysts Feel About Mimecast Ltd (MIME) After Forming Double Top Chart Pattern?

September 17, 2017 - By Clifton Ray

The chart of Mimecast Ltd (MIME) shows a double top with $28.35 target or 5.00 % above today’s $27.00 share price. The 9 months chart pattern indicates low risk for the $1.51B company. It was reported on Sep, 17 by Finviz.com. If the $28.35 price target is reached, the company will be worth $75.50M more. Double tops are rare but powerful chart patterns.

The stock decreased 2.98% or $0.83 on September 15, reaching $27. About 979,094 shares traded or 161.38% up from the average. Mimecast Ltd (NASDAQ:MIME) has risen 240.79% since September 17, 2016 and is uptrending. It has outperformed by 224.09% the S&P500.

Wall Street await Mimecast Ltd (NASDAQ:MIME) to release earnings on November, 8. Analysts forecast earnings per share of $-0.03, down exactly $0.04 or 400.00 % from 2014’s $0.01 EPS. After posting $-0.04 EPS for the previous quarter, Mimecast Ltd’s analysts now forecast -25.00 % EPS growth.

Mimecast Ltd (NASDAQ:MIME) Ratings Coverage

Among 9 analysts covering Mimecast (NASDAQ:MIME), 9 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Mimecast had 11 analyst reports since December 14, 2015 according to SRatingsIntel. Dougherty & Company initiated Mimecast Ltd (NASDAQ:MIME) rating on Friday, June 3. Dougherty & Company has “Buy” rating and $12 target. The firm has “Overweight” rating given on Friday, October 14 by JP Morgan. The rating was initiated by Northland Capital on Tuesday, January 17 with “Outperform”. The company was initiated on Monday, December 14 by Goldman Sachs. The stock has “Buy” rating by Dougherty & Company on Friday, November 4. The rating was initiated by Brean Capital on Wednesday, January 25 with “Buy”. The firm has “Outperform” rating given on Monday, December 14 by Oppenheimer. RBC Capital Markets initiated Mimecast Ltd (NASDAQ:MIME) on Monday, December 14 with “Outperform” rating. The firm earned “Overweight” rating on Monday, December 14 by Barclays Capital. Dougherty & Company maintained it with “Buy” rating and $28 target in Friday, February 10 report.

More notable recent Mimecast Ltd (NASDAQ:MIME) news were published by: Marketwatch.com which released: “27.00” on October 24, 2015, also Seekingalpha.com with their article: “Mimecast’s (MIME) CEO Peter Bauer on Q4 2017 Results – Earnings Call Transcript” published on May 10, 2017, Benzinga.com published: “Mimecast’s Enterprise Potential Is Underappreciated” on April 13, 2017. More interesting news about Mimecast Ltd (NASDAQ:MIME) were released by: Seekingalpha.com and their article: “IPO Preview: Mimecast Ltd.” published on November 19, 2015 as well as Zacks.com‘s news article titled: “Why Mimecast (MIME) Could Be Positioned for a Surge November 18, 2016” with publication date: November 18, 2016.

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