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.
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%.
ILLEGAL ACTIVITY WARNING: This piece was originally posted by Ticker Report and is the property of of Ticker Report. If you are viewing this piece on another domain, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece can be accessed at https://www.tickerreport.com/banking-finance/2484444/logmein-inc-logm-stock-rating-upgraded-by-thestreet.html.
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.
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.