What’s Mimecast Limited (MIME) Upside After Forming Double Top Chart Pattern?

April 25, 2018 - By Henry Gaston

Mimecast Limited (NASDAQ:MIME) Logo

The chart of Mimecast Limited (MIME) shows a double top with $40.01 target or 7.00 % above today’s $37.39 share price. The 7 months chart pattern indicates low risk for the $2.16B company. It was reported on Apr, 25 by Finviz.com. If the $40.01 price target is reached, the company will be worth $151.34M more. Double tops are rare but powerful chart patterns.

The stock decreased 0.76% or $0.29 during the last trading session, reaching $37.39. About 85,533 shares traded. Mimecast Limited (NASDAQ:MIME) has risen 63.99% since April 25, 2017 and is uptrending. It has outperformed by 52.44% the S&P500.

Analysts await Mimecast Limited (NASDAQ:MIME) to report earnings on May, 8. They expect $-0.07 EPS, down 40.00 % or $0.02 from last year’s $-0.05 per share. After $-0.05 actual EPS reported by Mimecast Limited for the previous quarter, Wall Street now forecasts 40.00 % negative EPS growth.

Mimecast Limited (NASDAQ:MIME) Ratings Chart

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