LogMeIn (LOGM) Lifted to Strong-Buy at BidaskClub
BidaskClub upgraded shares of LogMeIn (NASDAQ:LOGM) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday.
A number of other brokerages have also issued reports on LOGM. Needham & Company LLC boosted their target price on LogMeIn from $130.00 to $140.00 and gave the stock a buy rating in a research report on Friday, February 16th. Zacks Investment Research downgraded LogMeIn from a buy rating to a sell rating in a report on Thursday. Oppenheimer reiterated a hold rating on shares of LogMeIn in a report on Wednesday, December 20th. KeyCorp initiated coverage on LogMeIn in a report on Friday, April 6th. They set an overweight rating and a $135.00 price target on the stock. Finally, Mizuho initiated coverage on LogMeIn in a report on Monday, April 2nd. They set a buy rating and a $145.00 price target on the stock. Two analysts have rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $137.97.
Shares of LogMeIn stock opened at $119.20 on Thursday. The firm has a market cap of $6,238.69, a PE ratio of 35.90, a P/E/G ratio of 1.58 and a beta of 1.40. LogMeIn has a 12-month low of $103.00 and a 12-month high of $134.80.
Large investors have recently made changes to their positions in the business. Bray Capital Advisors acquired a new stake in shares of LogMeIn in the fourth quarter worth about $204,000. C M Bidwell & Associates Ltd. acquired a new position in shares of LogMeIn during the 4th quarter worth about $206,000. Jefferies Group LLC acquired a new position in shares of LogMeIn during the 4th quarter worth about $206,000. E&G Advisors LP acquired a new position in shares of LogMeIn during the 4th quarter worth about $309,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of LogMeIn during the 4th quarter worth about $317,000. 99.23% of the stock is owned by institutional investors.
LogMeIn Company Profile
LogMeIn, Inc, together with its subsidiaries, provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions for individuals and businesses in the United States, the United Kingdom, and internationally. The company offers GoToMeeting, a secure product for online meetings, sales demonstrations, and collaborative gatherings; GoToTraining, a secure online training product for interactive training sessions; GoToConference, a video and audio conferencing solution; GoToWebinar, a do-it-yourself Webinar product for organizations; join.me, join.me pro, and join.me business, which are online meeting and screen sharing services; OpenVoice, a reservation-less audio conferencing service; and Grasshopper, a provider of telephony solutions.
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