trade back to resistance or more conservatively wait for possible breakout
In a report released yesterday, Saket Kalia from Barclays maintained a Buy rating on Mimecast (MIME), with a price target of $58.00. The company’s shares closed last Monday at $48.62.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mimecast with a $60.50 average price target, which is a 21.0% upside from current levels. In a report issued on January 30, SunTrust Robinson also maintained a Buy rating on the stock with a $63.00 price target.
Source Smarter analysis
Mimecast Ltd. engages in the provision of cloud security and risk management services for corporate information and email. It develops in suite of cloud services designed to offer cyber resilience for email and deliver comprehensive email risk management beyond the primary mail server. Its products allow to secure and stores corporate communications and information to address compliance and e-discovery requirements. The company was founded by Peter Cyril Bauer and Neil Hamilton Murray in 2003 and is headquartered in London, the United Kingdom.