LogMein Inc. (NASDAQ:LOGM) has been assigned a consensus rating of “Buy” from the twelve analysts that are currently covering the firm. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $80.00.
A number of equities analysts have recently issued reports on the stock. Piper Jaffray Cos. reiterated an “overweight” rating on shares of LogMein in a research note on Wednesday, July 27th. JPMorgan Chase & Co. upgraded shares of LogMein from a “neutral” rating to an “overweight” rating and set a $96.00 price objective on the stock in a research note on Wednesday, July 27th. Barclays PLC increased their price objective on shares of LogMein from $49.00 to $57.00 and gave the company an “underweight” rating in a research note on Friday, July 15th. Zacks Investment Research downgraded shares of LogMein from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, Cowen and Company cut shares of LogMein from an “outperform” rating to a “market perform” rating and set a $63.00 target price for the company. in a research report on Tuesday, July 5th.
In related news, Director Steven G. Chambers sold 4,540 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $84.42, for a total transaction of $383,266.80. Following the completion of the transaction, the director now owns 1,850 shares of the company’s stock, valued at $156,177. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael J. Donahue sold 4,137 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $80.13, for a total transaction of $331,497.81. Following 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 currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of LOGM. Victory Capital Management Inc. boosted its position in shares of LogMein by 160.9% in the second quarter. Victory Capital Management Inc. now owns 2,069 shares of the company’s stock valued at $131,000 after buying an additional 1,276 shares during the period. Acrospire Investment Management LLC acquired a new position in shares of LogMein during the first quarter valued at about $146,000. Amalgamated Bank acquired a new position in shares of LogMein during the second quarter valued at about $245,000. Janney Montgomery Scott LLC acquired a new position in shares of LogMein during the second quarter valued at about $208,000. Finally, PineBridge Investments L.P. boosted its position in shares of LogMein by 3.4% in the second quarter. PineBridge Investments L.P. now owns 3,170 shares of the company’s stock valued at $201,000 after buying an additional 103 shares during the period.
LogMein (NASDAQ:LOGM) traded up 0.14% during midday trading on Friday, reaching $90.38. 132,006 shares of the company’s stock were exchanged. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 177.56 and a beta of 1.20. The stock’s 50-day moving average is $86.54 and its 200-day moving average is $67.08. LogMein has a 12-month low of $35.00 and a 12-month high of $94.42.
LogMein (NASDAQ:LOGM) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $83.30 million for the quarter, compared to the consensus estimate of $81.80 million. During the same period last year, the firm earned $0.35 earnings per share. The company’s quarterly revenue was up 28.4% on a year-over-year basis. On average, equities analysts forecast that LogMein will post $1.94 earnings per share for the current year.
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.
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