$272.06 Million in Sales Expected for LogMein, Inc. (LOGM) This Quarter
Analysts predict that LogMein, Inc. (NASDAQ:LOGM) will announce $272.06 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for LogMein’s earnings. The lowest sales estimate is $271.81 million and the highest is $272.29 million. LogMein reported sales of $85.10 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 219.7%. The firm is scheduled to report its next quarterly earnings results after the market closes on Thursday, October 26th.
According to Zacks, analysts expect that LogMein will report full year sales of $272.06 million for the current year, with estimates ranging from $1.01 billion to $1.02 billion. For the next year, analysts forecast that the company will post sales of $1.17 billion per share, with estimates ranging from $1.15 billion to $1.19 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow LogMein.
LogMein (NASDAQ:LOGM) last announced its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.08. The firm had revenue of $266.95 million during the quarter, compared to analyst estimates of $264.95 million. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. LogMein’s quarterly revenue was up 220.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share.
A number of research analysts have commented on LOGM shares. BidaskClub cut shares of LogMein from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Cowen and Company restated a “buy” rating and set a $134.00 price target on shares of LogMein in a research note on Friday, September 1st. Piper Jaffray Companies restated an “overweight” rating and set a $150.00 price target on shares of LogMein in a research note on Friday, June 23rd. Robert W. Baird restated a “hold” rating and set a $130.00 price target on shares of LogMein in a research note on Friday, September 1st. Finally, Royal Bank Of Canada restated a “buy” rating and set a $140.00 price target on shares of LogMein in a research note on Monday, September 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. LogMein has a consensus rating of “Buy” and an average target price of $131.85.
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In other news, Director Michael K. Simon sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $116.33, for a total transaction of $2,326,600.00. Following the completion of the sale, the director now owns 790,977 shares of the company’s stock, valued at $92,014,354.41. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christopher Battles sold 721 shares of the firm’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 sale, the insider now directly owns 2,036 shares of the company’s stock, valued at approximately $239,800.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,319 shares of company stock valued at $7,922,367. Company insiders own 2.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning increased its holdings in shares of LogMein by 0.3% during the second quarter. Creative Planning now owns 1,147 shares of the software maker’s stock worth $120,000 after buying an additional 3 shares in the last quarter. Renaissance Group LLC increased its holdings in shares of LogMein by 0.9% during the second quarter. Renaissance Group LLC now owns 3,445 shares of the software maker’s stock worth $360,000 after buying an additional 32 shares in the last quarter. M&T Bank Corp increased its holdings in shares of LogMein by 1.8% during the second quarter. M&T Bank Corp now owns 2,104 shares of the software maker’s stock worth $219,000 after buying an additional 37 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of LogMein by 1.5% during the second quarter. D.A. Davidson & CO. now owns 4,127 shares of the software maker’s stock worth $431,000 after buying an additional 61 shares in the last quarter. Finally, Advisor Group Inc. increased its holdings in shares of LogMein by 4.0% during the second quarter. Advisor Group Inc. now owns 3,236 shares of the software maker’s stock worth $335,000 after buying an additional 123 shares in the last quarter. 95.41% of the stock is owned by institutional investors.
Shares of LogMein (LOGM) traded up 0.69% during mid-day trading on Wednesday, reaching $116.10. The company had a trading volume of 64,907 shares. LogMein has a 52-week low of $86.22 and a 52-week high of $123.95. The company’s 50-day moving average price is $112.60 and its 200-day moving average price is $110.93. The company’s market capitalization is $6.12 billion.
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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