LogMein, Inc. (LOGM) Receives Average Recommendation of “Buy” from Analysts
Shares of LogMein, Inc. (NASDAQ:LOGM) have been given a consensus rating of “Buy” by the twelve analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $127.74.
LOGM has been the subject of a number of research reports. TheStreet raised shares of LogMein from a “c” rating to a “b-” rating in a research report on Wednesday, April 19th. Vetr cut shares of LogMein from a “hold” rating to a “sell” rating and set a $101.67 price target for the company. in a research report on Wednesday, April 26th. Zacks Investment Research cut shares of LogMein from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Cowen and Company upped their price target on shares of LogMein from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price target (up from $110.00) on shares of LogMein in a research report on Friday, May 5th.
LogMein (NASDAQ LOGM) traded down 1.44% on Tuesday, hitting $116.15. The stock had a trading volume of 389,013 shares. The firm’s market cap is $6.12 billion. LogMein has a one year low of $79.63 and a one year high of $123.95. The company’s 50-day moving average price is $111.56 and its 200 day moving average price is $106.51.
LogMein (NASDAQ:LOGM) last announced its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.08. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The company had revenue of $266.95 million during the quarter, compared to analysts’ expectations of $264.95 million. During the same period in the previous year, the company earned $0.49 EPS. The business’s quarterly revenue was up 220.6% compared to the same quarter last year. Analysts expect that LogMein will post $4.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Wednesday, August 9th will be paid a $0.25 dividend. The ex-dividend date is Monday, August 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.86%. LogMein’s dividend payout ratio (DPR) is presently -909.01%.
In related news, SVP James Lok sold 960 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $111.00, for a total transaction of $106,560.00. Following the sale, the senior vice president now owns 2,109 shares in the company, valued at $234,099. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William Raymond Wagner sold 4,588 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $116.30, for a total transaction of $533,584.40. Following the sale, the chief executive officer now owns 69,542 shares in the company, valued at approximately $8,087,734.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,860 shares of company stock worth $13,258,245. Company insiders own 2.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Penserra Capital Management LLC boosted its position in LogMein by 316.8% in the second quarter. Penserra Capital Management LLC now owns 8,224 shares of the software maker’s stock valued at $104,000 after buying an additional 6,251 shares during the period. Nikko Asset Management Americas Inc. purchased a new position in LogMein during the first quarter valued at approximately $105,000. Creative Planning boosted its position in 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 purchased a new position in LogMein during the first quarter valued at approximately $151,000. Finally, Amica Mutual Insurance Co. purchased a new position in LogMein during the first quarter valued at approximately $152,000. Hedge funds and other institutional investors own 97.39% of the company’s stock.
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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