LogMein, Inc. (LOGM) Receives Consensus Recommendation of “Buy” from Analysts
Shares of LogMein, Inc. (NASDAQ:LOGM) have been given a consensus rating of “Buy” by the eleven research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $119.46.
Several equities analysts have issued reports on LOGM shares. TheStreet lowered LogMein from a “b-” rating to a “c” rating in a research note on Monday, March 27th. BidaskClub lowered LogMein from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Needham & Company LLC reissued a “buy” rating and issued a $125.00 price target (up from $110.00) on shares of LogMein in a research note on Friday, May 5th. Piper Jaffray Companies reissued an “overweight” rating and issued a $150.00 price target on shares of LogMein in a research note on Friday, June 23rd. Finally, Zacks Investment Research lowered LogMein from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 3rd.
In other news, SVP Lawrence M. D’angelo sold 4,412 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $109.99, for a total transaction of $485,275.88. Following the transaction, the senior vice president now directly owns 6,476 shares of the company’s stock, valued at $712,295.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael K. Simon sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $113.93, for a total value of $2,278,600.00. Following the transaction, the director now directly owns 795,883 shares in the company, valued at $90,674,950.19. The disclosure for this sale can be found here. Insiders have sold 107,081 shares of company stock worth $12,073,839 over the last ninety days. 2.50% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of LogMein by 46.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 71,057 shares of the software maker’s stock worth $6,861,000 after buying an additional 22,462 shares during the last quarter. Norges Bank purchased a new position in shares of LogMein during the fourth quarter worth $16,421,000. Vident Investment Advisory LLC purchased a new position in shares of LogMein during the fourth quarter worth $318,000. Teachers Advisors LLC raised its position in shares of LogMein by 3.5% in the fourth quarter. Teachers Advisors LLC now owns 234,283 shares of the software maker’s stock worth $22,620,000 after buying an additional 7,814 shares during the last quarter. Finally, Creative Planning raised 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 worth $112,000 after buying an additional 673 shares during the last quarter. 96.30% of the stock is currently owned by institutional investors.
Shares of LogMein (NASDAQ:LOGM) traded down 1.02% during mid-day trading on Friday, hitting $111.30. 484,187 shares of the company were exchanged. The company’s market capitalization is $5.86 billion. The firm has a 50 day moving average of $109.71 and a 200 day moving average of $104.95. LogMein has a 12-month low of $61.96 and a 12-month high of $123.95.
LogMein (NASDAQ:LOGM) last announced its earnings results on Thursday, May 4th. The software maker reported $0.62 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $201.10 million for the quarter, compared to analysts’ expectations of $195.74 million. During the same period in the prior year, the business posted $0.35 earnings per share. The firm’s revenue was up 152.3% on a year-over-year basis. Equities research analysts forecast that LogMein will post $3.87 earnings per share for the current year.
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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