LogMeIn (LOGM) Downgraded by Barclays

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Barclays downgraded shares of LogMeIn (NASDAQ:LOGM) from an overweight rating to an underweight rating in a report released on Friday morning, AnalystRatings.com reports. The firm currently has $74.00 price target on the software maker’s stock, down from their prior price target of $104.00.

Other research analysts also recently issued reports about the company. Northland Securities reissued a buy rating and issued a $125.00 target price on shares of LogMeIn in a report on Friday, March 22nd. BidaskClub downgraded LogMeIn from a buy rating to a hold rating in a report on Thursday, March 21st. Stephens began coverage on LogMeIn in a report on Thursday, January 3rd. They issued an overweight rating on the stock. ValuEngine downgraded LogMeIn from a hold rating to a sell rating in a report on Friday, February 15th. Finally, Mizuho began coverage on LogMeIn in a report on Wednesday, March 13th. They issued a neutral rating and a $88.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $100.45.

Shares of LOGM opened at $81.65 on Friday. The company has a market capitalization of $4.09 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.25 and a beta of 1.03. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.63 and a current ratio of 0.63. LogMeIn has a one year low of $74.87 and a one year high of $123.00.

LogMeIn (NASDAQ:LOGM) last announced its earnings results on Thursday, February 14th. The software maker reported $1.47 EPS for the quarter, topping the consensus estimate of $1.41 by $0.06. The business had revenue of $310.70 million for the quarter, compared to the consensus estimate of $306.57 million. LogMeIn had a return on equity of 7.69% and a net margin of 6.17%. LogMeIn’s revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 EPS. On average, sell-side analysts expect that LogMeIn will post 3.81 EPS for the current fiscal year.

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

A number of large investors have recently bought and sold shares of LOGM. Kohlberg Kravis Roberts & Co. L.P. lifted its holdings in LogMeIn by 272.7% during the 4th quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 813,676 shares of the software maker’s stock worth $66,372,000 after buying an additional 595,331 shares in the last quarter. Norges Bank acquired a new position in LogMeIn during the 4th quarter worth $37,914,000. Epoch Investment Partners Inc. lifted its holdings in LogMeIn by 51.1% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,106,383 shares of the software maker’s stock worth $90,248,000 after buying an additional 374,020 shares in the last quarter. Park West Asset Management LLC acquired a new position in LogMeIn during the 4th quarter worth $29,365,000. Finally, TD Asset Management Inc. acquired a new position in LogMeIn during the 4th quarter worth $20,182,000. 97.95% of the stock is currently owned by hedge funds and other 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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