LogMein, Inc. (LOGM) Upgraded at Robert W. Baird
Robert W. Baird upgraded shares of LogMein, Inc. (NASDAQ:LOGM) from a neutral rating to an outperform rating in a research report report published on Tuesday, Marketbeat reports. Robert W. Baird currently has $130.00 price target on the software maker’s stock.
A number of other research firms have also weighed in on LOGM. Piper Jaffray Companies reissued an overweight rating and issued a $170.00 price objective on shares of LogMein in a research report on Wednesday, August 9th. Royal Bank Of Canada reissued a buy rating and issued a $140.00 price objective on shares of LogMein in a research report on Monday, September 4th. Cowen and Company reissued an outperform rating and issued a $134.00 price objective (up from $130.00) on shares of LogMein in a research report on Sunday, July 30th. BidaskClub lowered shares of LogMein from a strong-buy rating to a buy rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research raised shares of LogMein from a hold rating to a buy rating and set a $131.00 price objective on the stock in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $131.85.
LogMein (NASDAQ:LOGM) traded down 0.04% during mid-day trading on Tuesday, hitting $116.00. The company had a trading volume of 293,672 shares. The stock has a 50 day moving average price of $112.02 and a 200-day moving average price of $109.84. The stock’s market capitalization is $6.12 billion. LogMein has a 1-year low of $86.22 and a 1-year high of $123.95.
LogMein (NASDAQ:LOGM) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.08. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The company had revenue of $266.95 million for the quarter, compared to analyst estimates of $264.95 million. During the same period in the prior year, the company posted $0.49 EPS. The firm’s revenue for the quarter was up 220.6% on a year-over-year basis. On average, analysts forecast that LogMein will post $4.05 earnings per share for the current year.
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In other LogMein news, insider Christopher Battles sold 721 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $117.78, for a total value of $84,919.38. Following the transaction, the insider now directly owns 2,036 shares in the company, valued at approximately $239,800.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven J. Benson sold 3,016 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $111.60, for a total transaction of $336,585.60. Following the completion of the transaction, the director now owns 1,787 shares in the company, valued at $199,429.20. The disclosure for this sale can be found here. Insiders sold a total of 69,319 shares of company stock worth $7,922,367 over the last 90 days. Insiders own 2.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of LOGM. US Bancorp DE grew its stake in LogMein by 80.4% in the 1st quarter. US Bancorp DE now owns 6,240 shares of the software maker’s stock worth $608,000 after acquiring an additional 2,781 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of LogMein by 69.6% during the first quarter. UBS Asset Management Americas Inc. now owns 256,018 shares of the software maker’s stock valued at $24,962,000 after purchasing an additional 105,092 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of LogMein during the first quarter valued at approximately $243,000. Envestnet Asset Management Inc. boosted its stake in shares of LogMein by 656.1% during the first quarter. Envestnet Asset Management Inc. now owns 5,111 shares of the software maker’s stock valued at $498,000 after purchasing an additional 4,435 shares in the last quarter. Finally, Nordea Investment Management AB bought a new position in shares of LogMein during the first quarter valued at approximately $1,087,000. Institutional investors and hedge funds own 95.41% of the company’s stock.
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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