LogMein Inc. (LOGM) PT Lowered to $98.00
LogMein Inc. (NASDAQ:LOGM) had its price objective reduced by stock analysts at Needham & Company LLC from $114.00 to $98.00 in a note issued to investors on Friday. The firm currently has a “strong-buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 10.51% from the company’s previous close.
Other analysts also recently issued research reports about the stock. TheStreet raised shares of LogMein from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Zacks Investment Research upgraded LogMein from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Wednesday, October 5th. Cowen and Company cut LogMein from an “outperform” rating to a “market perform” rating and set a $63.00 target price on the stock. in a report on Tuesday, July 5th. Piper Jaffray Cos. reiterated an “overweight” rating on shares of LogMein in a report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. upgraded LogMein from a “neutral” rating to an “overweight” rating and set a $96.00 target price on the stock in a report on Wednesday, July 27th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $84.22.
LogMein (NASDAQ:LOGM) opened at 88.68 on Friday. LogMein has a 12-month low of $35.00 and a 12-month high of $95.99. The firm has a 50 day moving average of $89.91 and a 200 day moving average of $70.73. The firm has a market capitalization of $2.24 billion, a P/E ratio of 174.22 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, topping the consensus estimate of $0.46 by $0.03. The company earned $83.30 million during the quarter, compared to the consensus estimate of $81.80 million. LogMein had a net margin of 4.29% and a return on equity of 12.99%. The company’s quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. On average, analysts forecast that LogMein will post $1.93 EPS for the current fiscal year.
In other news, SVP Michael J. Donahue sold 4,137 shares of LogMein stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $80.13, for a total transaction of $331,497.81. Following the sale, the senior vice president now directly owns 8,137 shares in the company, valued at approximately $652,017.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marilyn Matz sold 500 shares of LogMein stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $83.20, for a total value of $41,600.00. Following the sale, the director now owns 1,950 shares in the company, valued at $162,240. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in shares of LogMein by 160.9% in the second quarter. Victory Capital Management Inc. now owns 2,069 shares of the company’s stock valued at $131,000 after buying an additional 1,276 shares during the period. PineBridge Investments L.P. raised its stake in shares of LogMein by 3.4% in the second quarter. PineBridge Investments L.P. now owns 3,170 shares of the company’s stock valued at $201,000 after buying an additional 103 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of LogMein during the second quarter valued at $208,000. Profund Advisors LLC purchased a new stake in shares of LogMein during the second quarter valued at $211,000. Finally, Teacher Retirement System of Texas raised its stake in shares of LogMein by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,509 shares of the company’s stock valued at $223,000 after buying an additional 425 shares during the period.
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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