LogMein, Inc. (NASDAQ:LOGM)‘s stock had its “buy” rating restated by analysts at Piper Jaffray Companies in a research report issued on Tuesday. They currently have a $170.00 price target on the software maker’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 39.34% from the company’s previous close.

A number of other research firms have also issued reports on LOGM. Royal Bank Of Canada restated a “buy” rating and set a $140.00 price objective on shares of LogMein in a research report on Monday, September 4th. Cowen and Company reiterated an “outperform” rating and set a $134.00 price target (up previously from $130.00) on shares of LogMein in a research 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. BidaskClub lowered LogMein from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded LogMein from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $131.85.

Shares of LogMein (LOGM) traded up 0.78% during midday trading on Tuesday, hitting $122.00. The company had a trading volume of 732,002 shares. LogMein has a 12 month low of $86.22 and a 12 month high of $123.95. The company’s market cap is $6.43 billion. The stock’s 50-day moving average price is $113.38 and its 200-day moving average price is $111.82.

LogMein (NASDAQ:LOGM) last released its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.08. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. The business had revenue of $266.95 million during the quarter, compared to analyst estimates of $264.95 million. During the same quarter in the previous year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up 220.6% compared to the same quarter last year. On average, equities research analysts forecast that LogMein will post $4.05 EPS for the current year.

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In related news, CEO William Raymond Wagner sold 4,588 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $116.30, for a total transaction of $533,584.40. Following the transaction, the chief executive officer now directly owns 69,542 shares of the company’s stock, valued at $8,087,734.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Battles sold 721 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $117.78, for a total value of $84,919.38. Following the transaction, the insider now directly owns 2,036 shares in the company, valued at $239,800.08. The disclosure for this sale can be found here. Insiders have sold 69,319 shares of company stock worth $7,922,367 over the last ninety days. 2.50% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Penserra Capital Management LLC boosted its stake in LogMein by 316.8% during the 2nd quarter. Penserra Capital Management LLC now owns 8,224 shares of the software maker’s stock valued at $104,000 after purchasing an additional 6,251 shares during the period. Creative Planning boosted its stake in LogMein by 0.3% during the 2nd quarter. Creative Planning now owns 1,147 shares of the software maker’s stock valued at $120,000 after purchasing an additional 3 shares during the period. Reliance Trust Co. of Delaware bought a new stake in LogMein during the 3rd quarter valued at approximately $201,000. Osborn Williams & Donohoe LLC bought a new stake in LogMein during the 2nd quarter valued at approximately $203,000. Finally, American Capital Management Inc. bought a new stake in LogMein during the 2nd quarter valued at approximately $203,000. Institutional investors own 95.49% of the company’s stock.

About LogMein

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.

Analyst Recommendations for LogMein (NASDAQ:LOGM)

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