LogMeIn Receives Consensus Rating of “Buy” from Brokerages (NASDAQ:LOGM)
LogMeIn (NASDAQ:LOGM) has been given a consensus recommendation of “Buy” by the eleven analysts that are currently covering the company, StockRatingsNetwork reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $43.91.
LogMeIn (NASDAQ:LOGM) opened at 39.97 on Thursday. LogMeIn has a 52 week low of $27.49 and a 52 week high of $47.69. The stock’s 50-day moving average is $44.48 and its 200-day moving average is $40.71. The company’s market cap is $970.5 million.
LogMeIn (NASDAQ:LOGM) last released its earnings data on Tuesday, April 29th. The company reported $0.22 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.12 earnings per share. LogMeIn’s revenue was up 31.0% compared to the same quarter last year. On average, analysts predict that LogMeIn will post $1.00 earnings per share for the current fiscal year.
LOGM has been the subject of a number of recent research reports. Analysts at Cowen and Company upgraded shares of LogMeIn from a “market perform” rating to an “outperform” rating in a research note on Friday. They now have a $47.00 price target on the stock. Separately, analysts at Off Wall Street initiated coverage on shares of LogMeIn in a research note on Wednesday, July 9th. They set a “sell” rating and a $30.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of LogMeIn from $39.00 to $45.00 in a research note on Wednesday, April 30th. They now have an “equal weight” rating on the stock.
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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