LogMeIn (NASDAQ:LOGM) Cut to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of LogMeIn (NASDAQ:LOGM) from a sell rating to a strong sell rating in a research note issued to investors on Thursday morning, BidAskClub reports.

LOGM has been the subject of several other reports. Berenberg Bank cut LogMeIn from a buy rating to a hold rating in a research report on Tuesday, December 17th. Northland Securities cut LogMeIn from an outperform rating to a market perform rating in a research report on Wednesday, December 18th. Piper Jaffray Companies cut LogMeIn from an overweight rating to a neutral rating and increased their price objective for the company from $86.00 to $86.05 in a research report on Wednesday, December 18th. Needham & Company LLC reissued a hold rating on shares of LogMeIn in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada reduced their price objective on LogMeIn from $87.00 to $70.00 and set a sector perform rating for the company in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Hold and an average target price of $86.31.

Shares of LogMeIn stock opened at $85.40 on Thursday. The stock has a market capitalization of $4.25 billion, a P/E ratio of -294.48, a PEG ratio of 4.44 and a beta of 1.13. The company has a quick ratio of 0.47, a current ratio of 0.52 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $85.88 and a two-hundred day moving average price of $76.04. LogMeIn has a 12-month low of $62.02 and a 12-month high of $86.63.

LogMeIn (NASDAQ:LOGM) last posted its quarterly earnings data on Thursday, February 13th. The software maker reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.03. LogMeIn had a positive return on equity of 7.25% and a negative net margin of 1.15%. The company had revenue of $322.68 million during the quarter, compared to analysts’ expectations of $320.48 million. During the same period in the prior year, the business earned $1.47 earnings per share. LogMeIn’s revenue for the quarter was up 4.0% compared to the same quarter last year. Sell-side analysts anticipate that LogMeIn will post 3.85 earnings per share for the current year.

In related news, CFO Edward K. Herdiech sold 4,036 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $85.47, for a total value of $344,956.92. Following the completion of the transaction, the chief financial officer now directly owns 16,536 shares of the company’s stock, valued at $1,413,331.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Alpha Windward LLC bought a new position in LogMeIn in the fourth quarter worth $27,000. Raab & Moskowitz Asset Management LLC acquired a new position in LogMeIn during the fourth quarter worth $29,000. Lenox Wealth Advisors LLC raised its stake in LogMeIn by 1,458.3% during the fourth quarter. Lenox Wealth Advisors LLC now owns 374 shares of the software maker’s stock worth $32,000 after acquiring an additional 350 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in LogMeIn by 235.3% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 503 shares of the software maker’s stock worth $36,000 after acquiring an additional 353 shares in the last quarter. Finally, Fieldpoint Private Securities LLC raised its stake in LogMeIn by 66.9% during the fourth quarter. Fieldpoint Private Securities LLC now owns 631 shares of the software maker’s stock worth $54,000 after acquiring an additional 253 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

About LogMeIn

LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.

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Analyst Recommendations for LogMeIn (NASDAQ:LOGM)

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