LogMein, Inc. (LOGM) Receives $131.85 Average Target Price from Brokerages
LogMein, Inc. (NASDAQ:LOGM) has earned an average rating of “Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $131.85.
A number of analysts have recently weighed in on LOGM shares. BidaskClub cut shares of LogMein from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Cowen and Company restated a “buy” rating and issued a $134.00 price objective on shares of LogMein in a research note on Friday, September 1st. Piper Jaffray Companies restated an “overweight” rating and issued a $150.00 price objective on shares of LogMein in a research note on Friday, June 23rd. Robert W. Baird restated a “hold” rating and issued a $130.00 price objective on shares of LogMein in a research note on Friday, September 1st. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $140.00 price objective on shares of LogMein in a research note on Monday, September 4th.
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In other LogMein news, insider W. Sean Ford sold 14,640 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $113.01, for a total value of $1,654,466.40. Following the sale, the insider now owns 14,640 shares of the company’s stock, valued at approximately $1,654,466.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William Raymond Wagner sold 4,588 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $116.30, for a total transaction of $533,584.40. Following the completion of the sale, the chief executive officer now directly owns 69,542 shares in the company, valued at approximately $8,087,734.60. The disclosure for this sale can be found here. Insiders have sold 46,303 shares of company stock worth $5,347,182 in the last ninety days. 2.50% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. Penserra Capital Management LLC increased its holdings in LogMein by 316.8% in the 2nd quarter. Penserra Capital Management LLC now owns 8,224 shares of the software maker’s stock valued at $104,000 after buying an additional 6,251 shares during the period. Creative Planning increased its holdings in LogMein by 142.9% in the 1st quarter. Creative Planning now owns 1,144 shares of the software maker’s stock valued at $112,000 after buying an additional 673 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in LogMein by 102.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,951 shares of the software maker’s stock valued at $190,000 after buying an additional 985 shares during the period. Sandy Spring Bank bought a new stake in LogMein in the 1st quarter valued at $199,000. Finally, M&T Bank Corp bought a new stake in LogMein in the 1st quarter valued at $202,000. 95.69% of the stock is currently owned by hedge funds and other institutional investors.
LogMein (LOGM) traded down 0.834% during midday trading on Friday, reaching $109.975. 342,135 shares of the company were exchanged. The firm’s 50-day moving average is $113.95 and its 200-day moving average is $108.19. LogMein has a one year low of $86.22 and a one year high of $123.95. The firm’s market cap is $5.80 billion.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.08. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The business had revenue of $266.95 million during the quarter, compared to analysts’ expectations of $264.95 million. During the same period in the previous year, the company earned $0.49 earnings per share. LogMein’s revenue for the quarter was up 220.6% on a year-over-year basis. On average, equities analysts expect that LogMein will post $4.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Wednesday, August 9th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Monday, August 7th. LogMein’s dividend payout ratio (DPR) is currently -909.01%.
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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