LogMein Inc. (LOGM) Reaches New 52-Week High at $87.75
LogMein Inc. (NASDAQ:LOGM)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $87.75 and last traded at $87.20, with a volume of 137,885 shares trading hands. The stock had previously closed at $86.04.
Several equities analysts have commented on LOGM shares. TheStreet upgraded shares of LogMein from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Cowen and Company lowered shares of LogMein from an “outperform” rating to a “market perform” rating and set a $63.00 price target on the stock. in a research note on Tuesday, July 5th. Zacks Investment Research lowered shares of LogMein from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Barclays PLC raised their target price on shares of LogMein from $49.00 to $57.00 and gave the stock an “underweight” rating in a research report on Friday, July 15th. Finally, JPMorgan Chase & Co. upgraded shares of LogMein from a “neutral” rating to an “overweight” rating and set a $96.00 target price on the stock in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $77.44.
The stock has a market cap of $2.21 billion and a PE ratio of 171.87. The firm’s 50-day moving average price is $78.43 and its 200-day moving average price is $61.76.
LogMein (NASDAQ:LOGM) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.49 EPS for the quarter, topping the consensus estimate 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. During the same period last year, the firm posted $0.35 earnings per share. The business’s revenue was up 28.4% on a year-over-year basis. Equities research analysts anticipate that LogMein Inc. will post $1.93 earnings per share for the current year.
The firm also recently announced a special dividend, which was paid on Friday, August 26th. Shareholders of record on Monday, August 8th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 4th.
In other LogMein news, Director Steven G. Chambers sold 4,540 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $84.42, for a total value of $383,266.80. Following the transaction, the director now directly owns 1,850 shares of the company’s stock, valued at approximately $156,177. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael K. Simon sold 11,296 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $62.52, for a total value of $706,225.92. Following the completion of the transaction, the director now directly owns 777,104 shares in the company, valued at $48,584,542.08. The disclosure for this sale can be found here.
An institutional investor recently raised its position in LogMein stock. Principal Financial Group Inc. raised its position in shares of LogMein Inc. (NASDAQ:LOGM) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,872 shares of the company’s stock after buying an additional 8,402 shares during the period. Principal Financial Group Inc. owned approximately 0.68% of LogMein worth $11,465,000 at the end of the most recent quarter.
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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