LogMein, Inc. (LOGM) Announces Quarterly Earnings Results
LogMein, Inc. (NASDAQ:LOGM) released its quarterly earnings data on Thursday. The software maker reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.08, Bloomberg Earnings reports. LogMein had a negative net margin of 3.35% and a positive return on equity of 5.66%. The business had revenue of $266.95 million during the quarter, compared to analyst estimates of $264.95 million. During the same quarter last year, the business earned $0.49 earnings per share. LogMein’s quarterly revenue was up 220.6% compared to the same quarter last year. LogMein updated its Q3 guidance to $1.10-1.12 EPS and its FY17 guidance to $4.00-4.10 EPS.
LogMein (LOGM) traded down 1.55% during midday trading on Thursday, hitting $111.50. 780,801 shares of the stock traded hands. The firm’s market cap is $5.87 billion. The stock has a 50-day moving average of $109.64 and a 200 day moving average of $105.39. LogMein has a 52-week low of $64.74 and a 52-week high of $123.95.
In other news, SVP James Lok sold 640 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $116.05, for a total transaction of $74,272.00. Following the transaction, the senior vice president now owns 3,709 shares of the company’s stock, valued at approximately $430,429.45. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael K. Simon sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $113.93, for a total transaction of $2,278,600.00. Following the transaction, the director now directly owns 795,883 shares in the company, valued at approximately $90,674,950.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,081 shares of company stock worth $12,073,839. Corporate insiders own 2.50% of the company’s stock.
LOGM has been the subject of several research reports. Zacks Investment Research lowered shares of LogMein from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Cowen and Company upgraded shares of LogMein from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $100.00 to $115.00 in a research report on Friday, April 7th. BidaskClub upgraded shares of LogMein from a “buy” rating to a “strong-buy” rating in a research report on Monday. Vetr lowered shares of LogMein from a “hold” rating to a “sell” rating and set a $101.67 price objective for the company. in a research report on Wednesday, April 26th. Finally, TheStreet upgraded shares of LogMein from a “c” rating to a “b-” rating in a report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $118.63.
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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