LogMeIn (LOGM) Price Target Raised to $140.00 at Needham & Company LLC

LogMeIn (NASDAQ:LOGM) had its target price increased by Needham & Company LLC from $130.00 to $140.00 in a research report sent to investors on Friday, MarketBeat reports. They currently have a buy rating on the software maker’s stock.

Several other brokerages also recently weighed in on LOGM. BidaskClub raised LogMeIn from a hold rating to a buy rating in a research note on Tuesday, January 30th. Cowen reissued a buy rating and issued a $145.00 price objective on shares of LogMeIn in a research note on Sunday, October 29th. Barclays boosted their price objective on LogMeIn from $132.00 to $142.00 and gave the stock an overweight rating in a research note on Friday, October 27th. Piper Jaffray Companies reissued a buy rating and issued a $170.00 price objective on shares of LogMeIn in a research note on Tuesday, October 24th. Finally, Zacks Investment Research raised LogMeIn from a hold rating to a buy rating and set a $135.00 price objective on the stock in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $137.63.

Shares of LogMeIn (NASDAQ LOGM) opened at $122.45 on Friday. The firm has a market capitalization of $6,450.00, a price-to-earnings ratio of 720.29, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36. LogMeIn has a 12 month low of $90.35 and a 12 month high of $134.80.

LogMeIn (NASDAQ:LOGM) last announced its earnings results on Thursday, February 15th. The software maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.03. The firm had revenue of $276.03 million for the quarter, compared to the consensus estimate of $276.75 million. LogMeIn had a return on equity of 5.61% and a net margin of 10.06%. The firm’s revenue for the quarter was up 213.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 EPS. sell-side analysts predict that LogMeIn will post 4.02 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Monday, February 12th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, February 9th. This is an increase from LogMeIn’s previous quarterly dividend of $0.25. LogMeIn’s payout ratio is currently 705.88%.

Institutional investors have recently made changes to their positions in the company. Bray Capital Advisors acquired a new stake in shares of LogMeIn during the fourth quarter worth $204,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of LogMeIn during the fourth quarter worth $206,000. Jefferies Group LLC acquired a new stake in shares of LogMeIn during the fourth quarter worth $206,000. Reliance Trust Co. of Delaware acquired a new stake in shares of LogMeIn during the third quarter worth $201,000. Finally, Stephens Inc. AR acquired a new stake in shares of LogMeIn during the third quarter worth $202,000. 99.23% of the stock is currently owned by institutional investors.

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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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