LogMein Inc. (NASDAQ:LOGM) had its price target increased by equities research analysts at Needham & Company LLC from $98.00 to $114.00 in a research note issued on Friday. The firm presently has a “strong-buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 27.30% from the stock’s previous close.
Several other research firms have also issued reports on LOGM. TheStreet upgraded shares of LogMein from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Barclays PLC raised shares of LogMein from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $82.00 to $105.00 in a research note on Monday, October 3rd. Cowen and Company downgraded shares of LogMein from an “outperform” rating to a “market perform” rating and set a $63.00 price target for the company. in a research note on Tuesday, July 5th. Zacks Investment Research downgraded shares of LogMein from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, JPMorgan Chase & Co. raised shares of LogMein from a “neutral” rating to an “overweight” rating and set a $96.00 price target for the company in a research note on Wednesday, July 27th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $86.00.
LogMein (NASDAQ:LOGM) traded up 0.06% during trading on Friday, reaching $89.60. The company’s stock had a trading volume of 71,174 shares. The company has a market cap of $2.27 billion, a P/E ratio of 176.03 and a beta of 1.37. The stock’s 50-day moving average is $89.49 and its 200 day moving average is $69.89. LogMein has a 12 month low of $35.00 and a 12 month high of $95.99.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The company had revenue of $83.30 million for the quarter, compared to analyst estimates of $81.80 million. LogMein had a net margin of 4.29% and a return on equity of 12.99%. LogMein’s revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 earnings per share. On average, equities analysts forecast that LogMein will post $1.93 EPS for the current fiscal year.
In other LogMein news, SVP Michael J. Donahue sold 4,137 shares of the company’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 sale, the senior vice president now directly owns 8,137 shares of the company’s stock, valued at approximately $652,017.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marilyn Matz sold 500 shares of the company’s stock in a transaction dated 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 directly owns 1,950 shares of the company’s stock, valued at $162,240. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its stake 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 worth $131,000 after buying an additional 1,276 shares during the last quarter. PineBridge Investments L.P. increased its stake 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 worth $201,000 after buying an additional 103 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of LogMein during the second quarter worth about $208,000. Profund Advisors LLC purchased a new stake in shares of LogMein during the second quarter worth about $211,000. Finally, Teacher Retirement System of Texas boosted its position in LogMein by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,509 shares of the company’s stock worth $223,000 after buying an additional 425 shares during the last quarter.
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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