LogMeIn Inc (NASDAQ:LOGM) Expected to Post Quarterly Sales of $310.94 Million

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Wall Street brokerages expect that LogMeIn Inc (NASDAQ:LOGM) will announce sales of $310.94 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for LogMeIn’s earnings. The lowest sales estimate is $310.20 million and the highest is $311.40 million. LogMeIn posted sales of $305.65 million during the same quarter last year, which suggests a positive year over year growth rate of 1.7%. The company is scheduled to announce its next quarterly earnings report on Thursday, July 25th.

On average, analysts expect that LogMeIn will report full year sales of $1.26 billion for the current financial year. For the next year, analysts forecast that the business will post sales of $1.32 billion, with estimates ranging from $1.31 billion to $1.33 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow LogMeIn.

LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings data on Thursday, April 25th. The software maker reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.27. The firm had revenue of $307.70 million during the quarter, compared to analysts’ expectations of $305.57 million. LogMeIn had a net margin of 2.89% and a return on equity of 7.68%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share.

LOGM has been the subject of a number of analyst reports. BidaskClub cut shares of LogMeIn from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Northland Securities reiterated a “buy” rating and set a $125.00 price objective on shares of LogMeIn in a report on Friday, April 26th. TheStreet cut shares of LogMeIn from a “b” rating to a “c” rating in a report on Friday, April 26th. Zacks Investment Research cut shares of LogMeIn from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Finally, ValuEngine cut shares of LogMeIn from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $94.90.

Shares of NASDAQ LOGM traded up $1.12 during mid-day trading on Friday, reaching $74.78. 573,964 shares of the company’s stock traded hands, compared to its average volume of 512,969. The company has a market capitalization of $3.67 billion, a PE ratio of 16.44, a P/E/G ratio of 3.81 and a beta of 1.05. The business has a 50-day moving average of $72.94. LogMeIn has a 1-year low of $68.00 and a 1-year high of $112.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.53 and a current ratio of 0.53.

In related news, Director Michael K. Simon sold 22,500 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $75.79, for a total transaction of $1,705,275.00. Following the transaction, the director now directly owns 504,753 shares in the company, valued at $38,255,229.87. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Icon Wealth Partners LLC purchased a new position in LogMeIn during the first quarter worth about $39,000. Flagship Harbor Advisors LLC boosted its stake in LogMeIn by 59.3% in the first quarter. Flagship Harbor Advisors LLC now owns 567 shares of the software maker’s stock valued at $45,000 after acquiring an additional 211 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in LogMeIn in the first quarter valued at about $91,000. Ffcm LLC boosted its stake in LogMeIn by 2,045.0% in the fourth quarter. Ffcm LLC now owns 1,287 shares of the software maker’s stock valued at $105,000 after acquiring an additional 1,227 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new position in LogMeIn in the first quarter valued at about $117,000. Institutional investors and hedge funds own 97.10% of the company’s stock.

About LogMeIn

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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