LogMein (NASDAQ:LOGM) Earning Somewhat Favorable Media Coverage, Analysis Finds
Media coverage about LogMein (NASDAQ:LOGM) has been trending somewhat positive on Saturday, Accern Sentiment reports. The research firm rates the sentiment of press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. LogMein earned a news sentiment score of 0.14 on Accern’s scale. Accern also gave press coverage about the software maker an impact score of 45.5164950508758 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the media headlines that may have impacted Accern’s analysis:
- IHS Markit Score downgrades LogMeIn Inc to 40 out of 100, ranking positively in only one out of three available IHS Markit categories. (finance.yahoo.com)
- Piper Jaffray Companies Reaffirms “Overweight” Rating for LogMein, Inc. (NASDAQ:LOGM) (americanbankingnews.com)
- LogMein, Inc. (NASDAQ:LOGM) Director Sells $2,326,600.00 in Stock (americanbankingnews.com)
- LogMein, Inc. (LOGM) CEO William Raymond Wagner Sells 4,588 Shares (americanbankingnews.com)
- Why LogMein (LOGM) Could Be Positioned for a Surge (finance.yahoo.com)
Shares of LogMein (NASDAQ:LOGM) opened at 113.65 on Friday. The firm has a 50-day moving average price of $111.17 and a 200 day moving average price of $106.34. LogMein has a one year low of $79.63 and a one year high of $123.95. The firm’s market capitalization is $5.99 billion.
LogMein (NASDAQ:LOGM) last released its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. The business had revenue of $266.95 million for the quarter, compared to analysts’ expectations of $264.95 million. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. The company’s revenue was up 220.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 EPS. Equities analysts forecast that LogMein will post $4.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Wednesday, August 9th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, August 7th. LogMein’s dividend payout ratio is currently -909.01%.
LOGM has been the topic of several analyst reports. BidaskClub lowered LogMein from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $150.00 target price on shares of LogMein in a report on Friday, June 23rd. Zacks Investment Research lowered LogMein from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Vetr lowered LogMein from a “hold” rating to a “sell” rating and set a $101.67 target price on the stock. in a report on Wednesday, April 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 target price (up from $110.00) on shares of LogMein in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. LogMein has an average rating of “Buy” and an average target price of $127.74.
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In other LogMein news, CEO William Raymond Wagner sold 4,588 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $116.30, for a total transaction of $533,584.40. Following the sale, the chief executive officer now owns 69,542 shares in the company, valued at approximately $8,087,734.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael K. Simon sold 20,000 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $112.80, for a total value of $2,256,000.00. Following the sale, the director now owns 800,102 shares in the company, valued at approximately $90,251,505.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,500 shares of company stock worth $13,332,517. Insiders own 2.50% of the company’s stock.
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 core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.
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