LogMein Inc. (NASDAQ:LOGM) shares rose 3.2% on Friday . The company traded as high as $64.42 and last traded at $64.42, with a volume of 180,932 shares traded. The stock had previously closed at $62.44.

LOGM has been the topic of a number of research analyst reports. Cowen and Company downgraded LogMein from an “outperform” rating to a “market perform” rating and set a $63.00 target price on the stock. in a report on Tuesday, July 5th. Zacks Investment Research downgraded LogMein from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Barclays PLC upped their price target on LogMein from $49.00 to $57.00 and gave the stock an “underweight” rating in a research note on Friday, July 15th. Needham & Company LLC restated a “buy” rating and issued a $81.00 price target (up previously from $57.00) on shares of LogMein in a research note on Sunday, May 1st. Finally, Royal Bank Of Canada upped their price target on LogMein from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, April 29th. One investment 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 firm’s 50-day moving average is $62.74 and its 200-day moving average is $55.59. The stock has a market cap of $1.61 billion and a PE ratio of 125.67.

LogMein (NASDAQ:LOGM) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The company had revenue of $79.70 million for the quarter, compared to the consensus estimate of $77.76 million. The business’s revenue was up 30.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 EPS. Equities analysts predict that LogMein Inc. will post $1.88 earnings per share for the current fiscal year.

In related news, Director Gregory Hughes sold 1,638 shares of LogMein stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $58.78, for a total transaction of $96,281.64. Following the transaction, the director now directly owns 6,376 shares of the company’s stock, valued at $374,781.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO W. Sean Ford sold 7,881 shares of LogMein stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $60.70, for a total transaction of $478,376.70. The disclosure for this sale can be found here.

A number of institutional investors have modified their holdings of LOGM. Nichols Asset Management LLC raised its position in shares of LogMein by 105.1% in the fourth quarter. Nichols Asset Management LLC now owns 130,801 shares of the company’s stock valued at $8,777,000 after buying an additional 67,030 shares during the last quarter. Bailard Inc. acquired a new position in shares of LogMein during the fourth quarter valued at about $1,042,000. Principal Financial Group Inc. raised its position in shares of LogMein by 5.2% in the fourth quarter. Principal Financial Group Inc. now owns 170,872 shares of the company’s stock valued at $11,465,000 after buying an additional 8,402 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of LogMein by 291.1% in the fourth quarter. Wells Fargo & Company MN now owns 334,576 shares of the company’s stock valued at $22,449,000 after buying an additional 249,021 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of LogMein by 1.2% in the fourth quarter. Bank of Montreal Can now owns 376,978 shares of the company’s stock valued at $25,295,000 after buying an additional 4,622 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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