LogMein Inc. (NASDAQ:LOGM)‘s stock had its “buy” rating reissued by investment analysts at Piper Jaffray Cos. in a research report issued on Tuesday. They currently have a $120.00 price target on the stock. Piper Jaffray Cos.’s price objective would suggest a potential upside of 10.85% from the stock’s previous close.

Several other brokerages have also recently commented on LOGM. TheStreet upgraded LogMein from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Barclays PLC raised LogMein from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $82.00 to $105.00 in a research note on Monday, October 3rd. Needham & Company LLC boosted their price objective on LogMein from $81.00 to $98.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, July 27th. Zacks Investment Research raised LogMein from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Wednesday, October 5th. Finally, JPMorgan Chase & Co. raised LogMein from a “neutral” rating to an “overweight” rating and set a $96.00 price objective on the stock in a research note on Wednesday, July 27th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $89.78.

Analyst Recommendations for LogMein (NASDAQ:LOGM)

LogMein (NASDAQ:LOGM) opened at 108.25 on Tuesday. LogMein has a 52 week low of $35.00 and a 52 week high of $108.40. The stock’s 50 day moving average price is $94.50 and its 200 day moving average price is $78.47. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 402.42 and a beta of 1.20.

LogMein (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.03. LogMein had a return on equity of 13.40% and a net margin of 2.16%. The firm earned $85.10 million during the quarter, compared to analysts’ expectations of $84.29 million. During the same period in the previous year, the business earned $0.46 earnings per share. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. On average, analysts forecast that LogMein will post $1.99 earnings per share for the current year.

The company also recently announced a special dividend, which will be paid on Tuesday, November 22nd. Investors of record on Monday, November 7th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, November 3rd.

In related news, Director Michael K. Simon sold 50,000 shares of the stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $91.65, for a total transaction of $4,582,500.00. Following the transaction, the director now owns 857,948 shares of the company’s stock, valued at approximately $78,630,934.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of LOGM. UBS Asset Management Americas Inc. raised its position in LogMein by 11.9% in the first quarter. UBS Asset Management Americas Inc. now owns 44,563 shares of the company’s stock valued at $2,248,000 after buying an additional 4,723 shares during the last quarter. Nuveen Asset Management LLC raised its position in 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 during the last quarter. Jacobs Levy Equity Management Inc. raised its position in 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 during the last quarter. Panagora Asset Management Inc. raised its position in 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 during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in 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 during 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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