Shares of LogMein Inc. (NASDAQ:LOGM) have been given an average rating of “Buy” by the twelve ratings firms that are presently covering the stock. Three research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $83.29.
A number of research firms have recently commented on LOGM. Needham & Company LLC upped their target price on 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 cut LogMein from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. JPMorgan Chase & Co. raised LogMein from a “neutral” rating to an “overweight” rating and set a $96.00 target price on the stock in a research note on Wednesday, July 27th. Barclays PLC upped their target price on LogMein from $57.00 to $82.00 and gave the company an “underweight” rating in a research note on Wednesday, July 27th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating on shares of LogMein in a research note on Wednesday, July 27th.
In other news, Director Marilyn Matz sold 500 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $83.20, for a total transaction of $41,600.00. Following the completion of the sale, the director now owns 1,950 shares in the company, valued at approximately $162,240. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven G. Chambers sold 4,540 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $84.42, for a total value of $383,266.80. Following the sale, the director now owns 1,850 shares of the company’s stock, valued at approximately $156,177. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in shares of LogMein by 39.2% in the second quarter. FMR LLC now owns 1,111,447 shares of the company’s stock valued at $70,499,000 after buying an additional 313,112 shares in the last quarter. Mesirow Financial Investment Management Equity Management acquired a new stake in shares of LogMein during the second quarter valued at approximately $17,290,000. Renaissance Technologies LLC raised its stake in shares of LogMein by 43.0% in the first quarter. Renaissance Technologies LLC now owns 901,000 shares of the company’s stock valued at $45,464,000 after buying an additional 270,800 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of LogMein during the second quarter valued at approximately $15,298,000. Finally, Norges Bank acquired a new stake in shares of LogMein during the fourth quarter valued at approximately $13,715,000.
LogMein (NASDAQ:LOGM) opened at 93.42 on Friday. The stock has a market cap of $2.36 billion, a PE ratio of 183.54 and a beta of 1.37. LogMein has a 52 week low of $35.00 and a 52 week high of $95.99. The firm’s 50-day moving average price is $87.28 and its 200-day moving average price is $68.20.
LogMein (NASDAQ:LOGM) last released its earnings results on Tuesday, July 26th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $83.30 million for the quarter, compared to analysts’ expectations of $81.80 million. LogMein had a return on equity of 12.99% and a net margin of 4.29%. The company’s quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Equities analysts predict that LogMein will post $1.93 earnings per share for the current fiscal year.
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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