LogMein, Inc. (LOGM) Upgraded to “Strong-Buy” at BidaskClub

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

LOGM has been the subject of a number of other research reports. Cowen and Company raised shares of LogMein from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $100.00 to $115.00 in a research report on Friday, April 7th. Zacks Investment Research lowered shares of LogMein from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Vetr downgraded shares of LogMein from a “hold” rating to a “sell” rating and set a $101.67 price objective for the company. in a research note on Wednesday, April 26th. TheStreet upgraded shares of LogMein from a “c” rating to a “b-” rating in a research note on Wednesday, April 19th. Finally, Needham & Company LLC restated a “buy” rating and issued a $125.00 target price (up from $110.00) on shares of LogMein in a research note on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. LogMein presently has an average rating of “Buy” and a consensus target price of $127.74.

LogMein (NASDAQ LOGM) traded up 1.93% on Monday, reaching $113.65. The company’s stock had a trading volume of 475,699 shares. The firm has a 50-day moving average of $111.17 and a 200-day moving average of $106.34. The company’s market capitalization is $5.99 billion. LogMein has a one year low of $79.63 and a one year high of $123.95.

LogMein (NASDAQ:LOGM) last announced its earnings results on Thursday, July 27th. The software maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. The company had revenue of $266.95 million during the quarter, compared to analysts’ expectations of $264.95 million. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The firm’s quarterly revenue was up 220.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. Analysts predict that LogMein will post $4.06 EPS for the current year.

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In other LogMein news, SVP James Lok sold 960 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $111.00, for a total value of $106,560.00. Following the completion of the transaction, the senior vice president now directly owns 2,109 shares in the company, valued at $234,099. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher Battles sold 721 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $117.78, for a total transaction of $84,919.38. Following the completion of the transaction, the insider now owns 2,036 shares of the company’s stock, valued at $239,800.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,500 shares of company stock valued at $13,332,517. Insiders own 2.50% of the company’s stock.

A number of institutional investors have recently modified their holdings of LOGM. Elliott Management Corp acquired a new position in shares of LogMein during the first quarter valued at $118,804,000. Cim LLC raised its position in shares of LogMein by 26.1% in the first quarter. Cim LLC now owns 5,339 shares of the software maker’s stock valued at $520,000 after buying an additional 1,104 shares during the last quarter. Teachers Advisors LLC raised its position in shares of LogMein by 48.6% in the first quarter. Teachers Advisors LLC now owns 348,029 shares of the software maker’s stock valued at $33,933,000 after buying an additional 113,746 shares during the last quarter. Weiss Multi Strategy Advisers LLC acquired a new position in shares of LogMein during the first quarter valued at $1,951,000. Finally, Massachusetts Financial Services Co. MA raised its position in LogMein by 155.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,597,788 shares of the software maker’s stock worth $155,784,000 after buying an additional 972,980 shares in the last quarter. 95.88% of the stock is currently owned by hedge funds and other institutional investors.

About LogMein

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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