Absolutely brilliant day here. We finally have a breakout!!!Wouldn't be sure of a takeover, I just think it's been testing levels around here for a while and the confidence has finally got it over the line. Next stop 320p
Cracking company. Poss takeover target
Techinvest - July issue:
Buoyed by growing demand for cloud computing, iomart (246p) reported sales for
the year to March 31 of ÃÂ£65.8m, up 18%. Around half the growth was organic. Eps
climbed 16.9% to 12.5p. iomart is purchasing IT consultancy SystemsUp for ÃÂ£9.0m cash. This should bolster iomartÃ¢â¬â¢s Ã¢â¬Ëpublic cloudÃ¢â¬â¢ offerings. In 2014 the business had sales of ÃÂ£4.0m and a pre-tax profit of ÃÂ£1.5m. For fiscal 2016, broker SP Angel expects iomart to achieve eps of 14.8p. As a play on the expanding cloud market where takeover activity is high, the shares are worth noting.
Agree - a takeover could materialise out of the blue here and could be north of ÃÂ£3 imo. dyor