LogMein Inc. (LOGM) Stock Price Down 3.3%
Shares of LogMein Inc. (NASDAQ:LOGM) fell 3.3% during trading on Thursday . The company traded as low as $62.13 and last traded at $62.34, with a volume of 75,568 shares changing hands. The stock had previously closed at $64.50.
Several equities analysts have recently issued reports on LOGM shares. Barclays PLC lifted their price target on LogMein from $49.00 to $57.00 and gave the stock an “underweight” rating in a research report on Friday, July 15th. Cowen and Company lowered LogMein from an “outperform” rating to a “market perform” rating and set a $63.00 price target for the company. in a research report on Tuesday, July 5th. Zacks Investment Research lowered LogMein from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $81.00 price target (up previously from $57.00) on shares of LogMein in a research report on Sunday, May 1st. Finally, Royal Bank Of Canada lifted their price target on LogMein from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, April 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. LogMein presently has a consensus rating of “Buy” and an average target price of $73.27.
The company’s 50-day moving average is $62.72 and its 200 day moving average is $55.52. The stock has a market cap of $1.56 billion and a PE ratio of 121.72.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. The firm earned $79.70 million during the quarter, compared to analyst estimates 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 earned $0.33 earnings per share. Equities research analysts forecast that LogMein Inc. will post $1.88 EPS for the current year.
In other LogMein news, CFO Edward K. Herdiech sold 8,809 shares of the business’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $59.85, for a total transaction of $527,218.65. Following the transaction, the chief financial officer now owns 12,818 shares of the company’s stock, valued at $767,157.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO W. Sean Ford sold 7,881 shares of the business’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $60.70, for a total value of $478,376.70. The disclosure for this sale can be found here.
Other institutional investors recently added to or reduced their stakes in the company. Bailard Inc. bought a new position in LogMein during the fourth quarter worth $1,042,000. Stevens Capital Management LP bought a new position in LogMein during the fourth quarter worth $1,077,000. Comerica Bank raised its position in LogMein by 1.3% in the fourth quarter. Comerica Bank now owns 25,607 shares of the company’s stock worth $1,454,000 after buying an additional 318 shares during the period. Rhumbline Advisers raised its position in LogMein by 7.4% in the fourth quarter. Rhumbline Advisers now owns 30,121 shares of the company’s stock worth $2,021,000 after buying an additional 2,075 shares during the period. Finally, Nationwide Fund Advisors raised its position in LogMein by 0.8% in the fourth quarter. Nationwide Fund Advisors now owns 31,676 shares of the company’s stock worth $2,125,000 after buying an additional 250 shares during the period.
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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