LogMeIn (NASDAQ:LOGM) Rating Increased to Buy at BidaskClub

LogMeIn (NASDAQ:LOGM) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday, October 19th.

A number of other brokerages have also issued reports on LOGM. Zacks Investment Research raised LogMeIn from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. UBS Group raised LogMeIn from a “market perform” rating to an “outperform” rating in a research report on Monday, October 1st. Oppenheimer raised LogMeIn from a “market perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a research report on Monday, October 1st. Piper Jaffray Companies cut their price objective on LogMeIn from $95.00 to $90.00 and set a “neutral” rating on the stock in a research report on Monday, October 15th. Finally, Needham & Company LLC cut their price objective on LogMeIn from $112.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, September 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. LogMeIn has an average rating of “Hold” and a consensus price target of $113.50.

LOGM traded down $3.39 during trading hours on Friday, reaching $84.94. The company’s stock had a trading volume of 369,164 shares, compared to its average volume of 1,013,353. LogMeIn has a fifty-two week low of $74.87 and a fifty-two week high of $134.80. The stock has a market capitalization of $4.50 billion, a PE ratio of 25.36, a P/E/G ratio of 1.15 and a beta of 1.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.62 and a current ratio of 0.62.

LogMeIn (NASDAQ:LOGM) last released its quarterly earnings data on Thursday, October 25th. The software maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $309.58 million for the quarter, compared to analysts’ expectations of $302.92 million. LogMeIn had a return on equity of 7.19% and a net margin of 12.16%. As a group, equities research analysts forecast that LogMeIn will post 4.38 earnings per share for the current fiscal year.

In other LogMeIn news, Director Michael K. Simon sold 20,000 shares of the company’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $85.70, for a total value of $1,714,000.00. Following the completion of the transaction, the director now owns 607,026 shares in the company, valued at $52,022,128.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 60,000 shares of company stock worth $5,058,800 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LOGM. Vaughan Nelson Investment Management L.P. acquired a new position in LogMeIn in the second quarter valued at $69,257,000. First Trust Advisors LP boosted its stake in LogMeIn by 20.5% in the third quarter. First Trust Advisors LP now owns 1,806,406 shares of the software maker’s stock valued at $160,951,000 after acquiring an additional 307,690 shares in the last quarter. American Capital Management Inc. boosted its stake in shares of LogMeIn by 15,066.6% during the third quarter. American Capital Management Inc. now owns 301,815 shares of the software maker’s stock worth $26,892,000 after buying an additional 299,825 shares during the period. King Luther Capital Management Corp acquired a new stake in shares of LogMeIn during the second quarter worth about $21,611,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of LogMeIn by 16.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,385,771 shares of the software maker’s stock worth $123,473,000 after buying an additional 200,180 shares during the period. Institutional investors own 98.67% of the company’s stock.

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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