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Needham & Company LLC increased their price objective on shares of LogMeIn (NASDAQ:LOGM) from $48.00 to $55.00 in a research note issued on Wednesday, American Banking News reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 23.60% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Analysts at Maxim Group raised their price target on shares of LogMeIn from $45.00 to $48.00 in a research note on Thursday, April 17th. They now have a “buy” rating on the stock. Separately, analysts at Northland Securities raised their price target on shares of LogMeIn to $54.00 in a research note on Tuesday, March 18th. Finally, analysts at Northland Capital Partners raised their price target on shares of LogMeIn from $45.00 to $54.00 in a research note on Tuesday, March 18th. They now have an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $44.40.

LogMeIn (NASDAQ:LOGM) traded up 1.18% during mid-day trading on Wednesday, hitting $44.50. 339,394 shares of the company’s stock traded hands. LogMeIn has a 52-week low of $22.14 and a 52-week high of $47.69. The stock’s 50-day moving average is $42.9 and its 200-day moving average is $36.57. The company’s market cap is $1.077 billion.

LogMeIn (NASDAQ:LOGM) last released its earnings data on Tuesday, April 29th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $49.00 million for the quarter, compared to the consensus estimate of $47.06 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. Analysts expect that LogMeIn will post $1.00 EPS for the current fiscal year.

LogMeIn, Inc (NASDAQ:LOGM) provides essential cloud-based collaboration, information technology (IT) management and customer service offerings aimed at addressing the evolving multi-device, security, management and accessibility requirements of the new mobile workplace.

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