LogMein, Inc. (LOGM) Price Target Increased to $130.00 by Analysts at Cowen and Company
LogMein, Inc. (NASDAQ:LOGM) had its target price upped by Cowen and Company from $115.00 to $130.00 in a report issued on Monday, May 15th, StockTargetPrices.com reports. Cowen and Company currently has an outperform rating on the software maker’s stock.
Other research analysts have also recently issued research reports about the company. TheStreet cut LogMein from a b- rating to a c rating in a research report on Monday, March 27th. Needham & Company LLC reiterated a buy rating and issued a $110.00 price objective on shares of LogMein in a research report on Friday, March 10th. Vetr cut LogMein from a hold rating to a sell rating and set a $101.67 price objective for the company. in a research report on Wednesday, April 26th. Zacks Investment Research upgraded LogMein from a hold rating to a strong-buy rating and set a $112.00 price objective for the company in a research report on Tuesday, March 7th. Finally, Barclays PLC increased their price objective on LogMein from $110.00 to $120.00 and gave the stock an overweight rating in a research report on Wednesday, January 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. LogMein presently has an average rating of Buy and a consensus target price of $115.30.
LogMein (LOGM) traded down 0.14% during midday trading on Monday, reaching $108.60. 690,268 shares of the company were exchanged. The company has a 50 day moving average of $112.49 and a 200-day moving average of $103.40. LogMein has a 52-week low of $57.81 and a 52-week high of $123.95. The company’s market capitalization is $5.72 billion.
LogMein (NASDAQ:LOGM) last released its quarterly earnings data on Thursday, May 4th. The software maker reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.09. The firm had revenue of $201.10 million during the quarter, compared to analysts’ expectations of $195.74 million. LogMein had a positive return on equity of 5.66% and a negative net margin of 3.35%. LogMein’s revenue was up 152.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 earnings per share. On average, equities research analysts anticipate that LogMein will post $3.87 earnings per share for the current fiscal year.
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In related news, Director Michael K. Simon sold 20,000 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $113.93, for a total transaction of $2,278,600.00. Following the sale, the director now owns 795,883 shares of the company’s stock, valued at $90,674,950.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Calderoni sold 12,197 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $116.02, for a total value of $1,415,095.94. Following the sale, the director now directly owns 4,109 shares in the company, valued at approximately $476,726.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 107,081 shares of company stock worth $12,073,839. Corporate insiders own 2.50% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of LogMein by 96,200.0% in the third quarter. Victory Capital Management Inc. now owns 1,992,447 shares of the software maker’s stock worth $180,098,000 after buying an additional 1,990,378 shares during the last quarter. AO Asset Management LLC acquired a new stake in shares of LogMein during the third quarter worth about $10,793,000. BlackRock Inc. raised its stake in shares of LogMein by 4.1% in the third quarter. BlackRock Inc. now owns 11,164 shares of the software maker’s stock worth $1,010,000 after buying an additional 439 shares during the last quarter. Rhumbline Advisers raised its stake in shares of LogMein by 7.3% in the third quarter. Rhumbline Advisers now owns 34,089 shares of the software maker’s stock worth $3,081,000 after buying an additional 2,330 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of LogMein during the third quarter worth about $498,000. 97.39% of the stock is currently owned by hedge funds and other institutional investors.
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.
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