Barclays PLC upgraded shares of LogMein Inc. (NASDAQ:LOGM) from an underweight rating to an overweight rating in a report released on Monday. They currently have $105.00 price objective on the stock, up from their prior price objective of $82.00.
Other equities analysts have also recently issued reports about the stock. Needham & Company LLC raised their target price on shares of LogMein from $81.00 to $98.00 and gave the company a strong-buy rating in a research note on Wednesday, July 27th. Zacks Investment Research downgraded LogMein from a buy rating to a hold rating in a report on Wednesday, June 29th. JPMorgan Chase & Co. raised LogMein from a neutral rating to an overweight rating and set a $96.00 price target for the company in a report on Wednesday, July 27th. Piper Jaffray Cos. reaffirmed an overweight rating on shares of LogMein in a report on Wednesday, July 27th. Finally, TheStreet raised LogMein from a hold rating to a buy rating in a report on Wednesday, July 27th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $84.22.
Shares of LogMein (NASDAQ:LOGM) opened at 93.42 on Monday. LogMein has a 52 week low of $35.00 and a 52 week high of $95.99. The firm has a market capitalization of $2.36 billion, a PE ratio of 183.54 and a beta of 1.37. The stock has a 50 day moving average of $87.61 and a 200-day moving average of $68.38.
LogMein (NASDAQ:LOGM) last released its earnings results on Tuesday, July 26th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. LogMein had a net margin of 4.29% and a return on equity of 12.99%. The business earned $83.30 million during the quarter, compared to analysts’ expectations of $81.80 million. During the same period last year, the business earned $0.35 earnings per share. The firm’s revenue was up 28.4% on a year-over-year basis. Equities analysts anticipate that LogMein will post $1.93 earnings per share for the current fiscal year.
In related news, SVP Michael J. Donahue sold 6,034 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $84.49, for a total value of $509,812.66. Following the completion of the transaction, the senior vice president now owns 8,534 shares of the company’s stock, valued at $721,037.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael J. Donahue sold 4,137 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $80.13, for a total value of $331,497.81. Following the completion of the transaction, the senior vice president now directly owns 8,137 shares of the company’s stock, valued at approximately $652,017.81. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Friess Associates LLC increased its position in LogMein by 25.3% in the first quarter. Friess Associates LLC now owns 144,124 shares of the company’s stock worth $7,272,000 after buying an additional 29,124 shares during the period. Goldman Sachs Group Inc. increased its position in LogMein by 130.9% in the first quarter. Goldman Sachs Group Inc. now owns 107,086 shares of the company’s stock worth $5,404,000 after buying an additional 60,706 shares during the period. Quadrature Capital Ltd bought a new position in LogMein during the first quarter worth approximately $497,000. UBS Asset Management Americas Inc. increased its position in LogMein by 11.9% in the first quarter. UBS Asset Management Americas Inc. now owns 44,563 shares of the company’s stock worth $2,248,000 after buying an additional 4,723 shares during the period. Finally, potrero capital research llc increased its position in LogMein by 64.6% in the first quarter. potrero capital research llc now owns 91,335 shares of the company’s stock worth $4,609,000 after buying an additional 35,835 shares during the period.
LogMein Company Profile
LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s product line includes AppGuru, BoldChat, Cubby, join.me, LastPass, LogMeIn Pro, LogMeIn Central, LogMeIn Rescue, LogMeIn Rescue+Mobile, LogMeIn Backup, LogMeIn for iOS, LogMeIn Hamachi, MeldiumTM, Xively and RemotelyAnywhere.
Receive News & Ratings for LogMein Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogMein Inc. and related companies with MarketBeat.com's FREE daily email newsletter.