LogMeIn Inc (LOGM) Expected to Post Quarterly Sales of $305.17 Million

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Wall Street brokerages predict that LogMeIn Inc (NASDAQ:LOGM) will report sales of $305.17 million for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for LogMeIn’s earnings. The highest sales estimate is $305.80 million and the lowest is $304.43 million. LogMeIn posted sales of $257.03 million during the same quarter last year, which would indicate a positive year over year growth rate of 18.7%. The company is scheduled to report its next earnings results on Thursday, July 26th.

According to Zacks, analysts expect that LogMeIn will report full-year sales of $1.22 billion for the current fiscal year, with estimates ranging from $1.21 billion to $1.22 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.31 billion per share, with estimates ranging from $1.29 billion to $1.34 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for LogMeIn.

LogMeIn (NASDAQ:LOGM) last issued its earnings results on Thursday, April 26th. The software maker reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.03. LogMeIn had a net margin of 13.67% and a return on equity of 6.31%. The business had revenue of $280.30 million during the quarter, compared to analysts’ expectations of $277.43 million. During the same quarter in the prior year, the business posted $0.85 EPS. The company’s revenue for the quarter was up 39.4% on a year-over-year basis.

LOGM has been the subject of a number of recent research reports. KeyCorp initiated coverage on shares of LogMeIn in a research note on Friday, April 6th. They set an “overweight” rating and a $135.00 price target for the company. Zacks Investment Research cut shares of LogMeIn from a “hold” rating to a “sell” rating in a research note on Thursday, June 7th. ValuEngine upgraded shares of LogMeIn from a “sell” rating to a “hold” rating in a research note on Thursday, May 3rd. BidaskClub upgraded shares of LogMeIn from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 19th. Finally, Mizuho initiated coverage on shares of LogMeIn in a research note on Monday, April 2nd. They set a “buy” rating and a $145.00 price target for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $142.56.

NASDAQ:LOGM traded down $3.80 during trading hours on Tuesday, reaching $107.60. 50,639 shares of the company’s stock were exchanged, compared to its average volume of 596,903. The stock has a market cap of $5.89 billion, a P/E ratio of 33.25, a P/E/G ratio of 1.55 and a beta of 1.35. LogMeIn has a 1-year low of $103.00 and a 1-year high of $134.80.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 25th. Shareholders of record on Wednesday, May 9th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, May 8th. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. LogMeIn’s payout ratio is currently 35.82%.

In other LogMeIn news, CFO Edward K. Herdiech sold 10,255 shares of the company’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $110.03, for a total transaction of $1,128,357.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James Lok sold 5,689 shares of the company’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $116.27, for a total transaction of $661,460.03. Following the transaction, the senior vice president now owns 8,688 shares of the company’s stock, valued at approximately $1,010,153.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,081 shares of company stock valued at $15,752,754. 2.50% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in LOGM. Summit Trail Advisors LLC increased its holdings in shares of LogMeIn by 10,016.5% in the 1st quarter. Summit Trail Advisors LLC now owns 143,452 shares of the software maker’s stock valued at $143,000 after purchasing an additional 142,034 shares in the last quarter. Assetmark Inc. increased its holdings in shares of LogMeIn by 77.5% in the 1st quarter. Assetmark Inc. now owns 1,436 shares of the software maker’s stock valued at $166,000 after purchasing an additional 627 shares in the last quarter. Jefferies Group LLC purchased a new position in shares of LogMeIn in the 4th quarter valued at about $206,000. Silvant Capital Management LLC purchased a new position in shares of LogMeIn in the 1st quarter valued at about $267,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of LogMeIn in the 4th quarter valued at about $317,000. Institutional investors own 99.23% 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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