LogMein, Inc. (LOGM) Upgraded to Buy by Zacks Investment Research

LogMein, Inc. (NASDAQ:LOGM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, November 1st. The brokerage presently has a $135.00 target price on the software maker’s stock. Zacks Investment Research‘s price target suggests a potential upside of 15.98% from the stock’s previous close.

According to Zacks, “LogMeIn Inc., with world headquarters located near Boston in Woburn, Massachusetts, is a leading provider of on-demand, remote-connectivity and support solutions to small businesses, IT service providers and consumers. The company also has its European headquarters in Amsterdam, the Netherlands, and a development center in Budapest, Hungary. LogMeIn’s software-as-a-service suite of solutions includes capabilities for on-demand customer support of PCs, smartphones and other devices, systems administration, remote access, remote control, file-sharing, virtual private networking, data back-up and online meeting. Its solutions, which are deployed on-demand and accessible through a Web browser, are secure, scalable and easy for its customers to try, purchase and use. The company’s vision is to improve mobility, business productivity and connectivity through its Connectivity as a ServiceSM solutions. “

Other research analysts have also recently issued research reports about the stock. Cowen and Company reaffirmed an “outperform” rating and issued a $134.00 price target (up previously from $130.00) on shares of LogMein in a report on Sunday, July 30th. BidaskClub cut shares of LogMein from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Northland Securities reaffirmed a “buy” rating on shares of LogMein in a report on Friday, July 28th. Piper Jaffray Companies reissued an “overweight” rating and set a $170.00 target price on shares of LogMein in a report on Wednesday, August 9th. Finally, Robert W. Baird reissued a “hold” rating and set a $130.00 target price on shares of LogMein in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $135.96.

LogMein (NASDAQ LOGM) remained flat at $$116.40 during midday trading on Wednesday. The company’s stock had a trading volume of 415,443 shares, compared to its average volume of 727,429. The firm has a market cap of $6,127.02, a PE ratio of 43.43, a PEG ratio of 2.03 and a beta of 1.34. LogMein has a 12 month low of $90.35 and a 12 month high of $129.51.

LogMein (NASDAQ:LOGM) last posted its quarterly earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.05. The business had revenue of $269.30 million during the quarter, compared to analysts’ expectations of $270.56 million. LogMein had a net margin of 1.01% and a return on equity of 5.50%. The business’s quarterly revenue was up 216.5% on a year-over-year basis. During the same quarter last year, the company posted $0.56 earnings per share. equities research analysts expect that LogMein will post 3.28 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “LogMein, Inc. (LOGM) Upgraded to Buy by Zacks Investment Research” was originally published by BBNS and is owned by of BBNS. If you are accessing this report on another website, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The correct version of this report can be accessed at https://baseballnewssource.com/markets/logmein-inc-logm-raised-to-buy-at-zacks-investment-research/1747548.html.

In related news, Director Steven J. Benson sold 3,016 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $111.60, for a total transaction of $336,585.60. Following the sale, the director now owns 1,787 shares in the company, valued at $199,429.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael K. Simon sold 20,000 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $111.93, for a total transaction of $2,238,600.00. Following the sale, the director now owns 765,579 shares in the company, valued at approximately $85,691,257.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,152 shares of company stock worth $2,710,858. 2.50% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC grew its position in shares of LogMein by 48.6% in the first quarter. Teachers Advisors LLC now owns 348,029 shares of the software maker’s stock valued at $33,933,000 after purchasing an additional 113,746 shares during the period. Neuberger Berman Group LLC grew its position in shares of LogMein by 110.0% in the second quarter. Neuberger Berman Group LLC now owns 210,764 shares of the software maker’s stock valued at $22,025,000 after purchasing an additional 110,384 shares during the period. Renaissance Group LLC grew its position in shares of LogMein by 0.9% in the second quarter. Renaissance Group LLC now owns 3,445 shares of the software maker’s stock valued at $360,000 after purchasing an additional 32 shares during the period. Wells Fargo & Company MN grew its position in shares of LogMein by 23.6% in the second quarter. Wells Fargo & Company MN now owns 866,387 shares of the software maker’s stock valued at $90,537,000 after purchasing an additional 165,690 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of LogMein by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 378,597 shares of the software maker’s stock valued at $39,566,000 after purchasing an additional 45,825 shares during the period. Institutional investors and hedge funds own 95.39% of the company’s stock.

About LogMein

LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.

Get a free copy of the Zacks research report on LogMein (LOGM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for LogMein (NASDAQ:LOGM)

Receive News & Ratings for LogMein Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogMein Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks
Marlins Making Moves, Trade Dee Gordon to Seattle
Marlins Making Moves, Trade Dee Gordon to Seattle
Report: Astros Dallas Keuchel Pitched With Injured Foot
Report: Astros Dallas Keuchel Pitched With Injured Foot
Angels Sign Former Prospect with Braves Kevin Maitan
Angels Sign Former Prospect with Braves Kevin Maitan
Shohei Ohtani Has Turned Down Red Sox and Yankees
Shohei Ohtani Has Turned Down Red Sox and Yankees


Leave a Reply

 
© 2006-2017 BBNS.