Analysts Set LogMein Inc. (NASDAQ:LOGM) Price Target at $80.00
Shares of LogMein Inc. (NASDAQ:LOGM) have been given an average recommendation of “Buy” by the twelve ratings firms that are currently covering the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $80.00.
Several equities analysts recently issued reports on LOGM shares. TheStreet upgraded LogMein from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Needham & Company LLC raised their price target on LogMein from $81.00 to $98.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 27th. Cowen and Company lowered LogMein from an “outperform” rating to a “market perform” rating and set a $63.00 price target on the stock. in a research report on Tuesday, July 5th. Barclays PLC raised their price target on LogMein from $57.00 to $82.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 27th. Finally, Zacks Investment Research lowered LogMein from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th.
LogMein (NASDAQ:LOGM) opened at 90.39 on Friday. LogMein has a 12 month low of $35.00 and a 12 month high of $94.42. The stock’s 50 day moving average price is $86.72 and its 200-day moving average price is $67.36. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 177.58 and a beta of 1.20.
LogMein (NASDAQ:LOGM) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. LogMein had a return on equity of 12.99% and a net margin of 4.29%. The business had revenue of $83.30 million for the quarter, compared to analyst estimates of $81.80 million. During the same period last year, the company earned $0.35 EPS. LogMein’s revenue for the quarter was up 28.4% compared to the same quarter last year. Equities analysts anticipate that LogMein will post $1.93 EPS for the current fiscal year.
In other LogMein news, SVP Michael J. Donahue sold 6,034 shares of LogMein stock in a transaction on 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 owns 8,534 shares in the company, valued at $721,037.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael J. Donahue sold 4,137 shares of LogMein stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $80.13, for a total value of $331,497.81. Following the transaction, the senior vice president now owns 8,137 shares of the company’s stock, valued at approximately $652,017.81. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of LogMein during the fourth quarter worth about $13,715,000. Aperio Group LLC boosted its position in shares of LogMein by 35.6% in the first quarter. Aperio Group LLC now owns 4,968 shares of the company’s stock worth $251,000 after buying an additional 1,305 shares during the last quarter. Pacad Investment Ltd. boosted its position in shares of LogMein by 261.7% in the first quarter. Pacad Investment Ltd. now owns 14,512 shares of the company’s stock worth $732,000 after buying an additional 10,500 shares during the last quarter. BlackRock Inc. boosted its position in shares of LogMein by 1.1% in the first quarter. BlackRock Inc. now owns 17,141 shares of the company’s stock worth $865,000 after buying an additional 194 shares during the last quarter. Finally, BlackRock Group LTD boosted its position in shares of LogMein by 3.3% in the first quarter. BlackRock Group LTD now owns 72,899 shares of the company’s stock worth $3,679,000 after buying an additional 2,331 shares during the last 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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