LogMeIn (LOGM) Lowered to “Sell” at BidaskClub

BidaskClub cut shares of LogMeIn (NASDAQ:LOGM) from a hold rating to a sell rating in a research report sent to investors on Friday, July 27th.

A number of other equities analysts have also weighed in on LOGM. ValuEngine lowered shares of LogMeIn from a hold rating to a sell rating in a research report on Tuesday, June 26th. Zacks Investment Research raised shares of LogMeIn from a sell rating to a hold rating in a report on Tuesday, July 3rd. TheStreet downgraded shares of LogMeIn from a b rating to a c+ rating in a report on Thursday, April 26th. KeyCorp started coverage on shares of LogMeIn in a report on Friday, April 6th. They issued an overweight rating and a $135.00 target price on the stock. Finally, Robert W. Baird reissued a buy rating and issued a $145.00 target price on shares of LogMeIn in a report on Sunday, April 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. LogMeIn currently has an average rating of Hold and a consensus target price of $121.10.

LogMeIn traded down $1.70, hitting $80.25, during trading hours on Friday, according to MarketBeat Ratings. 890,917 shares of the company’s stock traded hands, compared to its average volume of 1,172,111. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 1.12 and a beta of 1.06. LogMeIn has a 52 week low of $77.05 and a 52 week high of $134.80. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.07.

LogMeIn (NASDAQ:LOGM) last posted its quarterly earnings results on Thursday, July 26th. The software maker reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.07. The business had revenue of $307.00 million during the quarter, compared to analyst estimates of $305.13 million. LogMeIn had a net margin of 12.34% and a return on equity of 6.75%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. sell-side analysts predict that LogMeIn will post 4.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 24th. Investors of record on Wednesday, August 8th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Tuesday, August 7th. LogMeIn’s payout ratio is 35.82%.

In other LogMeIn news, insider W. Sean Ford sold 2,160 shares of the business’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $110.79, for a total transaction of $239,306.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael K. Simon sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $80.92, for a total transaction of $1,618,400.00. Following the transaction, the director now owns 664,053 shares in the company, valued at approximately $53,735,168.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,405 shares of company stock worth $12,439,310. 2.50% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Natixis Advisors L.P. grew its holdings in shares of LogMeIn by 2.1% in the first quarter. Natixis Advisors L.P. now owns 23,714 shares of the software maker’s stock worth $2,740,000 after purchasing an additional 479 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of LogMeIn by 4.2% in the first quarter. Thrivent Financial for Lutherans now owns 11,956 shares of the software maker’s stock worth $1,382,000 after purchasing an additional 480 shares during the last quarter. Brinker Capital Inc. grew its holdings in shares of LogMeIn by 5.2% in the first quarter. Brinker Capital Inc. now owns 10,382 shares of the software maker’s stock worth $1,200,000 after purchasing an additional 517 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of LogMeIn by 4.9% in the first quarter. Stifel Financial Corp now owns 11,167 shares of the software maker’s stock worth $1,251,000 after purchasing an additional 522 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in shares of LogMeIn by 1.8% in the first quarter. Great West Life Assurance Co. Can now owns 31,281 shares of the software maker’s stock worth $3,614,000 after purchasing an additional 549 shares during the last quarter.

LogMeIn Company Profile

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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