LogMeIn (LOGM) Raised to Strong-Buy at BidaskClub

LogMeIn (NASDAQ:LOGM) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

Several other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of LogMeIn from a “buy” rating to a “sell” rating in a research report on Thursday. KeyCorp assumed coverage on shares of LogMeIn in a research report on Friday, April 6th. They issued an “overweight” rating and a $135.00 target price for the company. Mizuho assumed coverage on shares of LogMeIn in a research report on Monday, April 2nd. They issued a “buy” rating and a $145.00 target price for the company. Needham & Company LLC upped their target price on shares of LogMeIn from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Oppenheimer restated a “hold” rating on shares of LogMeIn in a research report on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $137.97.

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LOGM opened at $122.45 on Thursday. The stock has a market cap of $6,385.26, a P/E ratio of 36.55, a price-to-earnings-growth ratio of 1.64 and a beta of 1.40. LogMeIn has a fifty-two week low of $103.00 and a fifty-two week high of $134.80.

LogMeIn (NASDAQ:LOGM) last released its quarterly earnings data on Thursday, February 15th. The software maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.03. The firm had revenue of $276.03 million for the quarter, compared to analyst estimates of $276.75 million. LogMeIn had a net margin of 10.06% and a return on equity of 5.57%. LogMeIn’s quarterly revenue was up 213.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. analysts expect that LogMeIn will post 4.25 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Bray Capital Advisors bought a new position in shares of LogMeIn in the fourth quarter valued at approximately $204,000. C M Bidwell & Associates Ltd. bought a new position in shares of LogMeIn in the fourth quarter valued at approximately $206,000. Jefferies Group LLC bought a new position in shares of LogMeIn in the fourth quarter valued at approximately $206,000. E&G Advisors LP bought a new position in shares of LogMeIn in the fourth quarter valued at approximately $309,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of LogMeIn in the fourth quarter valued at approximately $317,000. Institutional investors and hedge funds own 99.23% of the company’s stock.

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About LogMeIn

LogMeIn, Inc, together with its subsidiaries, provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions for individuals and businesses in the United States, the United Kingdom, and internationally. The company offers GoToMeeting, a secure product for online meetings, sales demonstrations, and collaborative gatherings; GoToTraining, a secure online training product for interactive training sessions; GoToConference, a video and audio conferencing solution; GoToWebinar, a do-it-yourself Webinar product for organizations; join.me, join.me pro, and join.me business, which are online meeting and screen sharing services; OpenVoice, a reservation-less audio conferencing service; and Grasshopper, a provider of telephony solutions.

Analyst Recommendations for LogMeIn (NASDAQ:LOGM)

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