LogMeIn Given Consensus Recommendation of “Buy” by Analysts (NASDAQ:LOGM)
LogMeIn (NASDAQ:LOGM) has received an average rating of “Buy” from the ten brokerages that are covering the stock, AnalystRatingsNetwork.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $50.10.
A number of analysts have recently weighed in on LOGM shares. Analysts at RBC Capital reiterated an “outperform” rating on shares of LogMeIn in a research note on Friday, July 25th. They now have a $50.00 price target on the stock, down previously from $55.00. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of LogMeIn in a research note on Friday, July 25th. They now have a $50.00 price target on the stock, up previously from $45.00. Finally, analysts at Piper Jaffray raised their price target on shares of LogMeIn to $60.00 in a research note on Friday, July 25th.
In other LogMeIn news, SVP Michael J. Donahue sold 5,362 shares of the stock on the open market in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $43.15, for a total value of $231,370.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
LogMeIn (NASDAQ:LOGM) opened at 43.14 on Wednesday. LogMeIn has a 52 week low of $28.92 and a 52 week high of $47.69. The stock has a 50-day moving average of $41.61 and a 200-day moving average of $42.31. The company has a market cap of $1.062 billion and a P/E ratio of 687.30.
LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The company had revenue of $55.00 million for the quarter, compared to the consensus estimate of $52.48 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. Analysts expect that LogMeIn will post $1.09 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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