LogMein, Inc. (NASDAQ:LOGM) Expected to Announce Quarterly Sales of $264.91 Million
Wall Street analysts expect LogMein, Inc. (NASDAQ:LOGM) to announce $264.91 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for LogMein’s earnings, with estimates ranging from $264.65 million to $265.14 million. LogMein reported sales of $83.27 million during the same quarter last year, which would suggest a positive year over year growth rate of 218.1%. The firm is expected to issue its next quarterly earnings report after the market closes on Thursday, July 27th.
On average, analysts expect that LogMein will report full year sales of $264.91 million for the current fiscal year. For the next fiscal year, analysts forecast that the firm will post sales of $1.16 billion per share, with estimates ranging from $1.14 billion to $1.19 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow LogMein.
LogMein (NASDAQ:LOGM) last announced its earnings results on Thursday, May 4th. The software maker reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.09. LogMein had a positive return on equity of 5.66% and a negative net margin of 3.35%. The firm had revenue of $201.10 million during the quarter, compared to the consensus estimate of $195.74 million. During the same quarter in the prior year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 152.3% compared to the same quarter last year.
A number of equities analysts have weighed in on LOGM shares. TheStreet raised LogMein from a “c” rating to a “b-” rating in a research report on Wednesday, April 19th. Cowen and Company boosted their price target on LogMein from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Vetr downgraded LogMein from a “hold” rating to a “sell” rating and set a $101.67 price target on the stock. in a research report on Wednesday, April 26th. Zacks Investment Research downgraded LogMein from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $125.00 price target (up previously from $110.00) on shares of LogMein in a research report on Friday, May 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $118.63.
In related news, CFO Edward K. Herdiech sold 8,824 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $111.16, for a total value of $980,875.84. Following the completion of the sale, the chief financial officer now directly owns 4,891 shares in the company, valued at $543,683.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Christopher Battles sold 2,572 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $114.06, for a total value of $293,362.32. Following the completion of the sale, the insider now owns 2,790 shares of the company’s stock, valued at $318,227.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,081 shares of company stock valued at $12,073,839. 2.50% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. Nikko Asset Management Americas Inc. bought a new stake in shares of LogMein during the first quarter valued at about $105,000. Creative Planning boosted its stake 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 period. Amica Pension Fund Board of Trustees bought a new stake in shares of LogMein during the first quarter valued at about $151,000. Amica Mutual Insurance Co. bought a new stake in shares of LogMein during the first quarter valued at about $152,000. Finally, Fortaleza Asset Management Inc. bought a new stake in shares of LogMein during the first quarter valued at about $172,000. Institutional investors and hedge funds own 96.71% of the company’s stock.
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Shares of LogMein (LOGM) opened at 112.75 on Thursday. The company’s 50-day moving average price is $110.96 and its 200 day moving average price is $103.95. LogMein has a 52 week low of $61.50 and a 52 week high of $123.95. The company’s market cap is $5.93 billion.
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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