Brokerages Set LogMein, Inc. (NASDAQ:LOGM) PT at $119.46
LogMein, Inc. (NASDAQ:LOGM) has received a consensus rating of “Buy” from the eleven research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $119.46.
A number of equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price objective (up from $110.00) on shares of LogMein in a report on Friday, May 5th. Cowen and Company lifted their price objective on LogMein from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Zacks Investment Research downgraded LogMein from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 3rd. BidaskClub downgraded LogMein from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Vetr downgraded LogMein from a “hold” rating to a “sell” rating and set a $101.67 target price on the stock. in a report on Wednesday, April 26th.
Shares of LogMein (LOGM) traded up 0.49% during mid-day trading on Friday, hitting $111.85. The company had a trading volume of 163,624 shares. The firm’s market cap is $5.89 billion. The firm’s 50 day moving average is $109.71 and its 200-day moving average is $104.95. LogMein has a 12-month low of $61.96 and a 12-month high of $123.95.
LogMein (NASDAQ:LOGM) last released its quarterly earnings data on Thursday, May 4th. The software maker reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.09. The company had revenue of $201.10 million for the quarter, compared to the consensus estimate of $195.74 million. LogMein had a positive return on equity of 5.66% and a negative net margin of 3.35%. The company’s quarterly revenue was up 152.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 earnings per share. On average, equities analysts expect that LogMein will post $3.87 EPS for the current year.
In other LogMein news, insider Christopher Battles sold 2,572 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $114.06, for a total transaction of $293,362.32. Following the transaction, the insider now owns 2,790 shares of the company’s stock, valued at approximately $318,227.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Lawrence M. D’angelo sold 4,412 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $109.99, for a total value of $485,275.88. Following the transaction, the senior vice president now directly owns 6,476 shares in the company, valued at approximately $712,295.24. The disclosure for this sale can be found here. Insiders sold a total of 107,081 shares of company stock worth $12,073,839 over the last three months. 2.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Nikko Asset Management Americas Inc. purchased a new position in LogMein during the first quarter valued at about $105,000. Creative Planning increased its position in LogMein by 142.9% in the first quarter. Creative Planning now owns 1,144 shares of the software maker’s stock valued at $112,000 after buying an additional 673 shares in the last quarter. Amica Pension Fund Board of Trustees purchased a new position in LogMein during the first quarter valued at about $151,000. Amica Mutual Insurance Co. purchased a new position in LogMein during the first quarter valued at about $152,000. Finally, Fortaleza Asset Management Inc. purchased a new position in LogMein during the first quarter valued at about $172,000. 96.48% of the stock is currently owned by hedge funds and other institutional investors.
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LogMein Company Profile
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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