LogMeIn Inc (LOGM) Stock Rating Upgraded by TheStreet

LogMeIn Inc (NASDAQ:LOGM) was upgraded by equities research analysts at TheStreet to a “buy” rating in a research note issued on Wednesday.

A number of other analysts have also commented on LOGM. Cowen and Company raised LogMeIn from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $100.00 to $115.00 in a report on Friday, April 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 target price (up previously from $70.00) on shares of LogMeIn in a report on Sunday, February 5th. Zacks Investment Research lowered LogMeIn from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 29th. Needham & Company LLC reissued a “buy” rating and issued a $110.00 target price on shares of LogMeIn in a report on Friday, March 10th. Finally, Barclays PLC lifted their target price on LogMeIn from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, January 25th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $107.89.

Analyst Recommendations for LogMeIn (NASDAQ:LOGM)

LogMeIn (NASDAQ:LOGM) opened at 107.50 on Wednesday. LogMeIn has a 12 month low of $50.80 and a 12 month high of $110.10. The company has a market cap of $5.65 billion, a PE ratio of 1075.00 and a beta of 1.24. The company has a 50 day moving average price of $98.97 and a 200-day moving average price of $98.63.

LogMeIn (NASDAQ:LOGM) last posted its earnings results on Tuesday, February 28th. The software maker reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.25. The business earned $88 million during the quarter, compared to the consensus estimate of $87.37 million. LogMeIn had a return on equity of 13.40% and a net margin of 2.16%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 EPS. Equities analysts predict that LogMeIn will post $3.75 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Stockholders of record on Wednesday, May 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, May 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.93%.

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In other news, CEO William Raymond Wagner sold 8,750 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $96.56, for a total value of $844,900.00. Following the transaction, the chief executive officer now directly owns 53,953 shares in the company, valued at approximately $5,209,701.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven J. Benson purchased 400 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was purchased at an average price of $98.39 per share, for a total transaction of $39,356.00. Following the completion of the purchase, the director now owns 1,968 shares in the company, valued at $193,631.52. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 86,471 shares of company stock worth $8,421,117. Company insiders own 1.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its position in LogMeIn by 2,612.7% in the first quarter. Nisa Investment Advisors LLC now owns 8,138 shares of the software maker’s stock worth $793,000 after buying an additional 7,838 shares during the period. Cim LLC increased its position in LogMeIn by 26.1% in the first quarter. Cim LLC now owns 5,339 shares of the software maker’s stock worth $520,000 after buying an additional 1,104 shares during the period. Louisiana State Employees Retirement System increased its position in LogMeIn by 30.4% in the first quarter. Louisiana State Employees Retirement System now owns 13,300 shares of the software maker’s stock worth $1,297,000 after buying an additional 3,100 shares during the period. AMI Asset Management Corp purchased a new position in LogMeIn during the first quarter worth about $1,671,000. Finally, Bank of Montreal Can increased its position in LogMeIn by 161.7% in the first quarter. Bank of Montreal Can now owns 222,197 shares of the software maker’s stock worth $21,663,000 after buying an additional 137,291 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 core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.

5 Day Chart for NASDAQ:LOGM

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