LogMein Inc. (LOGM) Hits New 1-Year High at $87.75
LogMein Inc. (NASDAQ:LOGM)’s share price reached a new 52-week high 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.
A number of equities analysts have recently commented on LOGM shares. Needham & Company LLC lifted their price objective on LogMein from $81.00 to $98.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, July 27th. Piper Jaffray Cos. reiterated an “overweight” rating on shares of LogMein in a research note on Wednesday, July 27th. Barclays PLC lifted their price objective on LogMein from $57.00 to $82.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 27th. JPMorgan Chase & Co. upgraded 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. Finally, Zacks Investment Research lowered LogMein from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $77.44.
The firm’s 50 day moving average price is $79.10 and its 200-day moving average price is $61.95. The company has a market cap of $2.23 billion and a P/E ratio of 173.30.
LogMein (NASDAQ:LOGM) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.03. The business had revenue of $83.30 million for the quarter, compared to analyst estimates of $81.80 million. During the same quarter in the prior year, the company earned $0.35 earnings per share. The company’s quarterly revenue was up 28.4% on a year-over-year basis. On average, analysts predict that LogMein Inc. will post $1.93 EPS for the current fiscal year.
The firm also recently disclosed a special dividend, which was paid on Friday, August 26th. Stockholders of record on Monday, August 8th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 4th.
In other news, SVP Michael J. Donahue sold 4,137 shares of the stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $80.13, for a total transaction of $331,497.81. Following the completion of the transaction, the senior vice president now directly owns 8,137 shares in the company, valued at approximately $652,017.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Michael J. Donahue sold 6,034 shares of the 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 transaction, the senior vice president now owns 8,534 shares of the company’s stock, valued at $721,037.66. 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 LogMein Inc. (NASDAQ:LOGM) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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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