Analysts Set LogMein Inc. (NASDAQ:LOGM) Price Target at $80.00
LogMein Inc. (NASDAQ:LOGM) has earned a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $80.00.
A number of equities research analysts have recently weighed in on LOGM shares. Cowen and Company downgraded LogMein from an “outperform” rating to a “market perform” rating and set a $63.00 target price for the company. in a report on Tuesday, July 5th. Barclays PLC lifted their target price on LogMein from $49.00 to $57.00 and gave the stock an “underweight” rating in a report on Friday, July 15th. TheStreet raised LogMein from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Piper Jaffray Cos. reissued an “overweight” rating on shares of LogMein in a report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. raised LogMein from a “neutral” rating to an “overweight” rating and set a $96.00 target price for the company in a report on Wednesday, July 27th.
LogMein (NASDAQ:LOGM) opened at 90.39 on Friday. LogMein has a 12 month low of $35.00 and a 12 month high of $94.42. The company’s 50-day moving average is $86.72 and its 200 day moving average is $67.36. The firm has a market cap of $2.29 billion, a P/E ratio of 177.58 and a beta of 1.20.
LogMein (NASDAQ:LOGM) last posted its earnings results on Tuesday, July 26th. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.03. LogMein had a return on equity of 12.99% and a net margin of 4.29%. The company earned $83.30 million during the quarter, compared to the consensus estimate of $81.80 million. During the same quarter last year, the firm earned $0.35 earnings per share. The company’s revenue was up 28.4% on a year-over-year basis. Equities research analysts expect that LogMein will post $1.93 EPS for the current fiscal year.
In other news, SVP Michael J. Donahue sold 6,034 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $84.49, for a total transaction of $509,812.66. Following the sale, the senior vice president now directly owns 8,534 shares in the company, valued at $721,037.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michael J. Donahue sold 4,137 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $80.13, for a total value of $331,497.81. Following the sale, the senior vice president now owns 8,137 shares in the company, valued at $652,017.81. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in LOGM. FMR LLC boosted its stake in LogMein by 39.2% in the second quarter. FMR LLC now owns 1,111,447 shares of the company’s stock valued at $70,499,000 after buying an additional 313,112 shares during the period. Mesirow Financial Investment Management Equity Management purchased a new stake in LogMein during the second quarter valued at $17,290,000. Renaissance Technologies LLC boosted its stake in LogMein by 43.0% in the first quarter. Renaissance Technologies LLC now owns 901,000 shares of the company’s stock valued at $45,464,000 after buying an additional 270,800 shares during the period. Bank of Montreal Can purchased a new stake in LogMein during the second quarter valued at $15,298,000. Finally, Norges Bank purchased a new stake in LogMein during the fourth quarter valued at $13,715,000.
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 product line includes AppGuru, BoldChat, Cubby, join.me, LastPass, LogMeIn Pro, LogMeIn Central, LogMeIn Rescue, LogMeIn Rescue+Mobile, LogMeIn Backup, LogMeIn for iOS, LogMeIn Hamachi, MeldiumTM, Xively and RemotelyAnywhere.
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