LogMein, Inc. (NASDAQ:LOGM) Stock Rating Upgraded by BidaskClub

LogMein, Inc. (NASDAQ:LOGM) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Monday, July 24th.

A number of other equities analysts have also commented on LOGM. TheStreet lowered shares of LogMein from a “b-” rating to a “c” rating in a report on Monday, March 27th. Cowen and Company raised shares of LogMein from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $100.00 to $115.00 in a report on Friday, April 7th. Vetr lowered shares of LogMein from a “hold” rating to a “sell” rating and set a $101.67 price target on the stock. in a report on Wednesday, April 26th. Zacks Investment Research lowered shares of LogMein from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price objective (up previously from $110.00) on shares of LogMein in a research note on Friday, May 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $127.74.

Shares of LogMein (NASDAQ:LOGM) opened at 113.65 on Monday. LogMein has a 12 month low of $79.63 and a 12 month high of $123.95. The firm has a 50-day moving average of $111.17 and a 200-day moving average of $106.34. The firm’s market cap is $5.99 billion.

LogMein (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.08. The firm had revenue of $266.95 million for the quarter, compared to analyst estimates of $264.95 million. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The business’s revenue for the quarter was up 220.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 EPS. On average, analysts anticipate that LogMein will post $4.06 EPS for the current year.

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In other LogMein news, CEO William Raymond Wagner sold 4,588 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $116.30, for a total transaction of $533,584.40. Following the completion of the sale, the chief executive officer now owns 69,542 shares of the company’s stock, valued at approximately $8,087,734.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Battles sold 721 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $117.78, for a total transaction of $84,919.38. Following the sale, the insider now directly owns 2,036 shares of the company’s stock, valued at approximately $239,800.08. The disclosure for this sale can be found here. Insiders have sold a total of 117,500 shares of company stock valued at $13,332,517 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Penserra Capital Management LLC boosted its stake in shares of LogMein by 316.8% in the second quarter. Penserra Capital Management LLC now owns 8,224 shares of the software maker’s stock valued at $104,000 after buying an additional 6,251 shares during the last quarter. Nikko Asset Management Americas Inc. bought a new stake in LogMein during the first quarter valued at approximately $105,000. Creative Planning boosted its stake 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 bought a new stake in LogMein during the first quarter valued at approximately $151,000. Finally, Amica Mutual Insurance Co. bought a new stake in LogMein during the first quarter valued at approximately $152,000. 95.88% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for LogMein (NASDAQ:LOGM)

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