LogMein Inc. (LOGM) Shares Up 3%
LogMein Inc. (NASDAQ:LOGM) shares shot up 3% during trading on Thursday . The company traded as high as $86.26 and last traded at $86.04, with a volume of 358,289 shares trading hands. The stock had previously closed at $83.50.
A number of research firms recently commented on LOGM. Piper Jaffray Cos. reiterated an “overweight” rating on shares of LogMein in a research note on Wednesday, July 27th. JPMorgan Chase & Co. upgraded shares of LogMein from a “neutral” rating to an “overweight” rating and set a $96.00 price objective on the stock in a research note on Wednesday, July 27th. Barclays PLC raised their price objective on shares of LogMein from $49.00 to $57.00 and gave the company an “underweight” rating in a research note on Friday, July 15th. Zacks Investment Research lowered shares of LogMein from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, Cowen and Company lowered shares of LogMein from an “outperform” rating to a “market perform” rating and set a $63.00 price objective on the stock. in a research note on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $77.44.
The firm has a market capitalization of $2.18 billion and a PE ratio of 169.04. The firm has a 50 day moving average price of $78.43 and a 200 day moving average price of $61.76.
LogMein (NASDAQ:LOGM) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.03. During the same quarter last year, the firm earned $0.35 earnings per share. The firm earned $83.30 million during the quarter, compared to analyst estimates of $81.80 million. LogMein’s quarterly revenue was up 28.4% on a year-over-year basis. On average, equities analysts predict that LogMein Inc. will post $1.93 EPS for the current fiscal year.
The company also recently declared 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 was Thursday, August 4th.
In other LogMein news, SVP Michael J. Donahue sold 4,137 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $80.13, for a total value of $331,497.81. Following the completion of the transaction, the senior vice president now directly owns 8,137 shares of the company’s stock, valued at $652,017.81. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michael J. Donahue sold 6,034 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $84.49, for a total transaction of $509,812.66. Following the completion of the transaction, the senior vice president now directly owns 8,534 shares of the company’s stock, valued at $721,037.66. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in LogMein stock. Principal Financial Group Inc. increased its position in LogMein Inc. (NASDAQ:LOGM) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,872 shares of the company’s stock after buying an additional 8,402 shares during the period. Principal Financial Group Inc. owned about 0.68% of LogMein worth $11,465,000 at the end of the most recent reporting period.
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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