LogMein Inc. (LOGM) Trading 3.2% Higher
LogMein Inc. (NASDAQ:LOGM) traded up 3.2% during trading on Friday . The stock traded as high as $64.42 and last traded at $64.42, with a volume of 180,932 shares. The stock had previously closed at $62.44.
Several equities research analysts have commented on the company. Royal Bank Of Canada boosted their target price on LogMein from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, April 29th. Zacks Investment Research downgraded LogMein from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Piper Jaffray Cos. reissued a “buy” rating on shares of LogMein in a report on Thursday, April 28th. Barclays PLC boosted their price target on LogMein from $45.00 to $49.00 and gave the stock an “underweight” rating in a research note on Friday, April 29th. Finally, Dougherty & Co boosted their price target on LogMein from $56.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, April 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. LogMein presently has an average rating of “Buy” and an average price target of $73.27.
The stock has a market capitalization of $1.61 billion and a P/E ratio of 125.67. The company’s 50 day moving average price is $62.70 and its 200-day moving average price is $55.57.
LogMein (NASDAQ:LOGM) last announced its earnings results on Thursday, April 28th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.05. During the same period last year, the business posted $0.33 EPS. The company had revenue of $79.70 million for the quarter, compared to the consensus estimate of $77.76 million. The firm’s revenue was up 30.4% compared to the same quarter last year. On average, equities analysts forecast that LogMein Inc. will post $1.88 EPS for the current year.
In other LogMein news, CMO W. Sean Ford sold 7,881 shares of the stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $60.70, for a total transaction of $478,376.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Edward K. Herdiech sold 8,809 shares of the stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $59.85, for a total value of $527,218.65. Following the sale, the chief financial officer now directly owns 12,818 shares in the company, valued at approximately $767,157.30. The disclosure for this sale can be found here.
Several hedge funds have bought and sold shares of the company. Bailard Inc. acquired a new stake in LogMein during the fourth quarter worth $1,042,000. Principal Financial Group Inc. boosted its stake in LogMein by 5.2% in the fourth quarter. Principal Financial Group Inc. now owns 170,872 shares of the company’s stock worth $11,465,000 after buying an additional 8,402 shares during the last quarter. Wells Fargo & Company MN boosted its stake in LogMein by 291.1% in the fourth quarter. Wells Fargo & Company MN now owns 334,576 shares of the company’s stock worth $22,449,000 after buying an additional 249,021 shares during the last quarter. Bank of Montreal Can boosted its stake in LogMein by 1.2% in the fourth quarter. Bank of Montreal Can now owns 376,978 shares of the company’s stock worth $25,295,000 after buying an additional 4,622 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in LogMein by 4.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 108,187 shares of the company’s stock worth $7,259,000 after buying an additional 4,257 shares during the last quarter.
LogMeIn, Inc provides a portfolio of cloud-based service offerings. The Company’s services range from free downloadable mobile and Web-based collaboration apps to enterprise grade professional helpdesk solutions to a cloud-based platform for the Internet of Things, all of which are accessible with an Internet connection.
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