$0.70 Earnings Per Share Expected for LogMein, Inc. (NASDAQ:LOGM) This Quarter
Analysts expect that LogMein, Inc. (NASDAQ:LOGM) will post earnings per share (EPS) of $0.70 for the current quarter, according to Zacks. Six analysts have provided estimates for LogMein’s earnings. LogMein reported earnings of $0.24 per share during the same quarter last year, which suggests a positive year over year growth rate of 191.7%. The business is expected to report its next quarterly earnings report on Tuesday, July 25th.
According to Zacks, analysts expect that LogMein will report full-year earnings of $2.85 per share for the current financial year, with EPS estimates ranging from $2.80 to $2.89. For the next financial year, analysts expect that the company will post earnings of $3.90 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for LogMein.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings data on Thursday, May 4th. The software maker reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.09. The company had revenue of $201.10 million for the quarter, compared to analyst estimates of $195.74 million. LogMein had a negative net margin of 3.35% and a positive return on equity of 5.66%. LogMein’s revenue was up 152.3% compared to the same quarter last year. During the same period last year, the company posted $0.35 earnings per share.
A number of research firms have issued reports on LOGM. Piper Jaffray Companies reiterated an “overweight” rating and set a $150.00 target price on shares of LogMein in a report on Friday, June 23rd. BidaskClub lowered shares of LogMein from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Cowen and Company raised their price objective on shares of LogMein from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Needham & Company LLC restated a “buy” rating and issued a $125.00 price objective (up from $110.00) on shares of LogMein in a report on Friday, May 5th. Finally, Zacks Investment Research lowered shares of LogMein from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $118.63.
Shares of LogMein (NASDAQ LOGM) traded up 0.18% during trading on Tuesday, reaching $110.05. 368,152 shares of the company traded hands. LogMein has a 52 week low of $61.50 and a 52 week high of $123.95. The company’s market capitalization is $5.79 billion. The firm’s 50 day moving average price is $110.96 and its 200-day moving average price is $103.95.
In related news, SVP James Lok sold 640 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $116.05, for a total value of $74,272.00. Following the transaction, the senior vice president now directly owns 3,709 shares of the company’s stock, valued at approximately $430,429.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Calderoni sold 12,197 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $116.02, for a total transaction of $1,415,095.94. Following the completion of the transaction, the director now directly owns 4,109 shares in the company, valued at $476,726.18. The disclosure for this sale can be found here. Insiders sold a total of 107,081 shares of company stock worth $12,073,839 over the last ninety days. Insiders own 2.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Nikko Asset Management Americas Inc. acquired a new position in shares of LogMein during the first quarter valued at about $105,000. Creative Planning increased its position in shares of LogMein by 142.9% in the first 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 last quarter. Amica Pension Fund Board of Trustees acquired a new position in shares of LogMein during the first quarter valued at about $151,000. Amica Mutual Insurance Co. acquired a new position in shares of LogMein during the first quarter valued at about $152,000. Finally, Fortaleza Asset Management Inc. acquired a new position in shares of LogMein during the first quarter valued at about $172,000. 96.71% of the stock is currently owned by institutional investors.
LogMein Company Profile
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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