LogMein, Inc. (LOGM) Receives Average Recommendation of “Buy” from Brokerages
Shares of LogMein, Inc. (NASDAQ:LOGM) have received a consensus rating of “Buy” from the twelve analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $131.96.
Several research firms have commented on LOGM. BidaskClub downgraded shares of LogMein from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Zacks Investment Research raised shares of LogMein from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a report on Thursday, August 3rd. Cowen and Company reaffirmed an “outperform” rating and set a $134.00 price objective (up from $130.00) on shares of LogMein in a report on Sunday, July 30th. Robert W. Baird reiterated a “hold” rating and set a $130.00 price target on shares of LogMein in a research report on Friday, September 1st. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $170.00 price target on shares of LogMein in a research report on Wednesday, August 9th.
In related news, Director Steven J. Benson sold 3,016 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $111.60, for a total value of $336,585.60. Following the transaction, the director now directly owns 1,787 shares in the company, valued at $199,429.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher Battles sold 721 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $117.78, for a total transaction of $84,919.38. Following the completion of the transaction, the insider now owns 2,036 shares in the company, valued at $239,800.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,319 shares of company stock worth $7,922,367. Company insiders own 2.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of LOGM. US Bancorp DE increased its position in shares of LogMein by 80.4% in the first quarter. US Bancorp DE now owns 6,240 shares of the software maker’s stock worth $608,000 after purchasing an additional 2,781 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of LogMein by 69.6% in the first quarter. UBS Asset Management Americas Inc. now owns 256,018 shares of the software maker’s stock worth $24,962,000 after purchasing an additional 105,092 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of LogMein in the first quarter worth approximately $243,000. Envestnet Asset Management Inc. increased its position in shares of LogMein by 656.1% in the first quarter. Envestnet Asset Management Inc. now owns 5,111 shares of the software maker’s stock worth $498,000 after purchasing an additional 4,435 shares during the last quarter. Finally, Nordea Investment Management AB bought a new position in shares of LogMein in the first quarter worth approximately $1,087,000. Institutional investors own 95.41% of the company’s stock.
Shares of LogMein (NASDAQ LOGM) traded up 1.72% during mid-day trading on Wednesday, reaching $115.25. 580,919 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $112.07 and its 200 day moving average price is $109.80. The company’s market cap is $6.08 billion. LogMein has a 52-week low of $86.22 and a 52-week high of $123.95.
LogMein (NASDAQ:LOGM) last released its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.08. The business had revenue of $266.95 million for the quarter, compared to the consensus estimate of $264.95 million. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The company’s revenue was up 220.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. On average, equities research analysts predict that LogMein will post $4.05 EPS for the current year.
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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