LogMein, Inc. (LOGM) Receives Average Recommendation of “Buy” from Analysts
Shares of LogMein, Inc. (NASDAQ:LOGM) have earned an average rating of “Buy” from the twelve ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $131.85.
Several research analysts have issued reports on LOGM shares. Royal Bank Of Canada restated a “buy” rating and issued a $140.00 price target on shares of LogMein in a research report on Monday, September 4th. KeyCorp upgraded shares of LogMein from a “sector weight” rating to an “overweight” rating and set a $135.00 price target on the stock in a research report on Friday, July 28th. BidaskClub upgraded shares of LogMein from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Cowen and Company lifted 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 Monday, May 15th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $150.00 price target on shares of LogMein in a research report on Friday, June 23rd.
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LogMein (LOGM) traded down 1.79% during midday trading on Friday, reaching $110.00. The company had a trading volume of 322,246 shares. The company’s market capitalization is $5.80 billion. LogMein has a 52-week low of $86.22 and a 52-week high of $123.95. The company’s 50 day moving average is $113.87 and its 200-day moving average is $107.89.
LogMein (NASDAQ:LOGM) last posted its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.08. The firm had revenue of $266.95 million for the quarter, compared to analyst estimates of $264.95 million. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The firm’s quarterly revenue was up 220.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. Equities analysts expect that LogMein will post $4.05 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Wednesday, August 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.91%. The ex-dividend date was Monday, August 7th. LogMein’s payout ratio is -909.01%.
In other LogMein news, insider Christopher Battles sold 721 shares of LogMein stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $117.78, for a total transaction of $84,919.38. Following the completion of the sale, the insider now owns 2,036 shares of the company’s stock, valued at approximately $239,800.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Raymond Wagner sold 4,588 shares of LogMein stock in a transaction on Monday, August 7th. The shares were sold at an average price of $116.30, for a total transaction of $533,584.40. Following the sale, the chief executive officer now directly owns 69,542 shares of the company’s stock, valued at approximately $8,087,734.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,303 shares of company stock worth $5,347,182. Corporate insiders own 2.50% of the company’s stock.
Several large investors have recently modified their holdings of LOGM. Creative Planning boosted its stake in shares of LogMein by 142.9% during the 1st 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. Nisa Investment Advisors LLC boosted its stake in shares of LogMein by 2,612.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 8,138 shares of the software maker’s stock valued at $793,000 after buying an additional 7,838 shares during the period. ProShare Advisors LLC boosted its stake in shares of LogMein by 124.3% during the 1st quarter. ProShare Advisors LLC now owns 10,345 shares of the software maker’s stock valued at $1,009,000 after buying an additional 5,733 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of LogMein during the 1st quarter valued at $306,000. Finally, Strs Ohio boosted its stake in shares of LogMein by 57.9% during the 1st quarter. Strs Ohio now owns 21,004 shares of the software maker’s stock valued at $2,047,000 after buying an additional 7,704 shares during the period. 95.69% of the stock is owned by institutional investors.
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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