LogMeIn Inc (LOGM) Receives Consensus Recommendation of “Hold” from Analysts

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Shares of LogMeIn Inc (NASDAQ:LOGM) have been given an average recommendation of “Hold” by the sixteen brokerages that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $95.38.

A number of equities research analysts have commented on LOGM shares. BidaskClub raised LogMeIn from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 13th. Needham & Company LLC downgraded LogMeIn from a “buy” rating to a “hold” rating in a report on Friday, February 15th. ValuEngine downgraded LogMeIn from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Zacks Investment Research downgraded LogMeIn from a “buy” rating to a “hold” rating in a report on Monday, December 31st. Finally, Oppenheimer downgraded LogMeIn from an “outperform” rating to a “market perform” rating and set a $105.00 target price for the company. in a report on Friday, February 15th.

Shares of NASDAQ LOGM traded down $3.06 during mid-day trading on Monday, hitting $80.38. 2,034,600 shares of the company were exchanged, compared to its average volume of 661,220. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.63 and a quick ratio of 0.63. LogMeIn has a 1-year low of $74.87 and a 1-year high of $123.00. The company has a market cap of $4.24 billion, a PE ratio of 17.67, a P/E/G ratio of 1.25 and a beta of 1.03.

LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, February 14th. The software maker reported $1.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.06. LogMeIn had a return on equity of 7.69% and a net margin of 6.17%. The firm had revenue of $310.70 million during the quarter, compared to the consensus estimate of $306.57 million. During the same period last year, the company earned $1.20 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. Analysts anticipate that LogMeIn will post 3.81 earnings per share for the current fiscal year.

In other LogMeIn news, Director Michael K. Simon sold 22,500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $81.17, for a total value of $1,826,325.00. Following the completion of the sale, the director now owns 547,074 shares of the company’s stock, valued at $44,405,996.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc raised its stake in shares of LogMeIn by 853.7% during the 4th quarter. IFP Advisors Inc now owns 782 shares of the software maker’s stock worth $63,000 after buying an additional 700 shares during the last quarter. Enlightenment Research LLC acquired a new position in shares of LogMeIn during the 4th quarter worth $65,000. Oppenheimer Asset Management Inc. acquired a new position in shares of LogMeIn during the 4th quarter worth $96,000. Ffcm LLC raised its stake in shares of LogMeIn by 2,045.0% during the 4th quarter. Ffcm LLC now owns 1,287 shares of the software maker’s stock worth $105,000 after buying an additional 1,227 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of LogMeIn by 415.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,421 shares of the software maker’s stock worth $216,000 after buying an additional 1,951 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

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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