Needham & Company LLC Lowers LogMeIn (LOGM) Price Target to $112.00

LogMeIn (NASDAQ:LOGM) had its price target cut by Needham & Company LLC from $135.00 to $112.00 in a research report report published on Friday, July 27th, MarketBeat Ratings reports. They currently have a buy rating on the software maker’s stock.

Several other equities research analysts also recently weighed in on LOGM. Mizuho started coverage on shares of LogMeIn in a research note on Monday, April 2nd. They set a buy rating and a $145.00 target price on the stock. KeyCorp initiated coverage on shares of LogMeIn in a research report on Friday, April 6th. They issued an overweight rating and a $135.00 price objective on the stock. Zacks Investment Research raised shares of LogMeIn from a sell rating to a buy rating and set a $131.00 price objective on the stock in a research report on Thursday, April 12th. BidaskClub raised shares of LogMeIn from a buy rating to a strong-buy rating in a research report on Thursday, April 19th. Finally, Barclays dropped their price objective on shares of LogMeIn from $142.00 to $132.00 and set an overweight rating on the stock in a research report on Friday, April 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $121.10.

LogMeIn traded down $1.70, hitting $80.25, on Friday, MarketBeat reports. The stock had a trading volume of 890,917 shares, 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 23.96, a PEG ratio of 1.12 and a beta of 1.06. LogMeIn has a 1-year low of $77.05 and a 1-year high of $134.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.64 and a quick ratio of 0.64.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Stockholders of record on Wednesday, August 8th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, August 7th. LogMeIn’s dividend payout ratio (DPR) is presently 35.82%.

In other news, insider Christopher Battles sold 2,530 shares of the stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $81.13, for a total value of $205,258.90. Following the completion of the transaction, the insider now owns 5,468 shares in the company, valued at approximately $443,618.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider W. Sean Ford sold 2,160 shares of the stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $110.79, for a total transaction of $239,306.40. The disclosure for this sale can be found here. Insiders sold a total of 119,405 shares of company stock valued at $12,439,310 in the last 90 days. Company insiders own 2.50% of the company’s stock.

Large investors have recently bought and sold shares of the business. Farallon Capital Management LLC acquired a new stake in shares of LogMeIn in the first quarter worth approximately $201,731,000. Vaughan Nelson Investment Management L.P. acquired a new position in LogMeIn during the second quarter valued at approximately $69,257,000. First Trust Advisors LP lifted its position in LogMeIn by 23.4% during the second quarter. First Trust Advisors LP now owns 1,498,716 shares of the software maker’s stock valued at $154,742,000 after buying an additional 284,212 shares in the last quarter. Bessemer Group Inc. lifted its position in LogMeIn by 16.8% during the second quarter. Bessemer Group Inc. now owns 1,205,447 shares of the software maker’s stock valued at $124,462,000 after buying an additional 173,632 shares in the last quarter. Finally, Summit Trail Advisors LLC lifted its position in LogMeIn by 10,016.5% during the first quarter. Summit Trail Advisors LLC now owns 143,452 shares of the software maker’s stock valued at $143,000 after buying an additional 142,034 shares in the last quarter.

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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