LogMein Inc. (NASDAQ:LOGM) had its price target cut by equities researchers at Needham & Company LLC from $114.00 to $98.00 in a report released on Friday. The firm presently has a “strong-buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 10.29% from the stock’s previous close.

LOGM has been the subject of a number of other research reports. Barclays PLC upgraded LogMein from an “underweight” rating to an “overweight” rating and increased their target price for the company from $82.00 to $105.00 in a report on Monday, October 3rd. Zacks Investment Research upgraded LogMein from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a report on Wednesday, October 5th. Cowen and Company lowered 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. TheStreet upgraded LogMein from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating on shares of LogMein in a research note on Wednesday, July 27th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. LogMein currently has a consensus rating of “Buy” and a consensus target price of $84.22.

Analyst Recommendations for LogMein (NASDAQ:LOGM)

Shares of LogMein (NASDAQ:LOGM) traded up 2.77% on Friday, hitting $91.32. The company’s stock had a trading volume of 202,375 shares. The company has a 50 day moving average of $90.08 and a 200 day moving average of $71.00. LogMein has a 1-year low of $35.00 and a 1-year high of $95.99. The firm has a market cap of $2.31 billion, a PE ratio of 179.41 and a beta of 1.37.

LogMein (NASDAQ:LOGM) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the firm earned $0.35 EPS. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. Equities analysts forecast that LogMein will post $1.93 EPS for the current year.

In other news, SVP Michael J. Donahue sold 4,137 shares of the firm’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 directly owns 8,137 shares of the company’s stock, valued at $652,017.81. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael J. Donahue sold 6,034 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $84.49, for a total value of $509,812.66. Following the completion of the sale, the senior vice president now directly owns 8,534 shares in the company, valued at $721,037.66. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Several large investors have recently modified their holdings of LOGM. BNP Paribas Arbitrage SA increased its stake in shares of LogMein by 102.4% in the second quarter. BNP Paribas Arbitrage SA now owns 7,811 shares of the company’s stock valued at $495,000 after buying an additional 3,952 shares in the last quarter. Royal Bank of Canada increased its stake in shares of LogMein by 262.6% in the first quarter. Royal Bank of Canada now owns 5,918 shares of the company’s stock valued at $298,000 after buying an additional 4,286 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of LogMein by 88.9% in the first quarter. Panagora Asset Management Inc. now owns 104,985 shares of the company’s stock valued at $5,298,000 after buying an additional 49,416 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of LogMein by 19.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 6,910 shares of the company’s stock valued at $349,000 after buying an additional 1,140 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of LogMein by 1.2% in the first quarter. Nuveen Asset Management LLC now owns 24,182 shares of the company’s stock valued at $1,220,000 after buying an additional 277 shares in the last quarter.

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 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.

5 Day Chart for NASDAQ:LOGM

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