LogMein Inc. (LOGM) Releases FY16 Earnings Guidance

LogMein Inc. (NASDAQ:LOGM) updated its FY16 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.91-1.97 for the period, compared to the Thomson Reuters consensus estimate of $1.88. The company issued revenue guidance of $333-335 million, compared to the consensus revenue estimate of $331.44 million.LogMein also updated its Q3 guidance to $0.52-0.53 EPS.

Several research firms recently weighed in on LOGM. Barclays PLC increased their price target on LogMein from $49.00 to $57.00 and gave the company an underweight rating in a report on Friday, July 15th. Cowen and Company lowered LogMein from an outperform rating to a market perform rating and set a $63.00 target price on the stock. in a research note on Tuesday, July 5th. Zacks Investment Research lowered LogMein from a buy rating to a hold rating in a research note on Wednesday, June 29th. Needham & Company LLC reiterated a buy rating and issued a $81.00 target price (up previously from $57.00) on shares of LogMein in a research note on Sunday, May 1st. Finally, Dougherty & Co increased their target price on LogMein from $56.00 to $65.00 and gave the stock a buy rating in a research note on Friday, April 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $72.10.

Shares of LogMein Inc. (NASDAQ:LOGM) traded up 6.74% during trading on Tuesday, hitting $69.71. The stock had a trading volume of 926,319 shares. The company’s 50 day moving average price is $62.81 and its 200 day moving average price is $55.58. The stock has a market cap of $1.74 billion and a price-to-earnings ratio of 135.89. LogMein Inc. has a 12 month low of $35.00 and a 12 month high of $74.94.

LogMein (NASDAQ:LOGM) last released its quarterly earnings results on Tuesday, July 26th. The company reported $49.00 earnings per share for the quarter, topping the consensus estimate of $0.46 by $48.54. The company had revenue of $83.30 million for the quarter, compared to analysts’ expectations of $81.80 million. The business’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.35 EPS. Equities research analysts expect that LogMein Inc. will post $1.88 earnings per share for the current fiscal year.

In other LogMein news, CFO Edward K. Herdiech sold 8,809 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $59.85, for a total transaction of $527,218.65. Following the completion of the transaction, the chief financial officer now owns 12,818 shares of the company’s stock, valued at $767,157.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael K. Simon sold 11,296 shares of the firm’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $62.52, for a total value of $706,225.92. Following the transaction, the director now directly owns 777,104 shares of the company’s stock, valued at approximately $48,584,542.08. The disclosure for this sale can be found here.

LogMeIn, Inc provides a portfolio of cloud-based service offerings. The Company’s services range from free downloadable mobile and Web-based collaboration apps to enterprise grade professional helpdesk solutions to a cloud-based platform for the Internet of Things, all of which are accessible with an Internet connection.