LogMeIn Inc (NASDAQ:LOGM) Receives $85.33 Average Target Price from Analysts

LogMeIn Inc (NASDAQ:LOGM) has earned a consensus rating of “Buy” from the eleven ratings firms that are covering the firm, AnalystRatings.Net reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $85.33.

Shares of LogMeIn (NASDAQ:LOGM) traded down 8.27% during trading on Monday, hitting $61.55. The company’s stock had a trading volume of 615,253 shares. The company has a market capitalization of $1.54 billion and a P/E ratio of 137.39. The firm’s 50 day moving average is $69.92 and its 200-day moving average is $67.78. LogMeIn has a 1-year low of $45.06 and a 1-year high of $75.42.

LogMeIn (NASDAQ:LOGM) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. During the same period last year, the business earned $0.32 earnings per share. The firm had revenue of $69.57 million for the quarter, compared to analysts’ expectations of $69.03 million. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. Analysts forecast that LogMeIn will post $1.61 EPS for the current fiscal year.

LOGM has been the subject of a number of recent research reports. Piper Jaffray reaffirmed an “overweight” rating and set a $94.00 price target on shares of LogMeIn in a research note on Monday, November 30th. Zacks Investment Research downgraded LogMeIn from a “buy” rating to a “hold” rating in a research note on Friday, December 11th. RBC Capital raised their price target on LogMeIn from $84.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, October 23rd. Pacific Crest reaffirmed an “overweight” rating and set a $86.00 price target (up from $82.00) on shares of LogMeIn in a research note on Friday, October 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of LogMeIn in a research note on Saturday, October 24th.

In other LogMeIn news, COO William Raymond Wagner sold 19,201 shares of LogMeIn stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $67.48, for a total value of $1,295,683.48. Following the completion of the transaction, the chief operating officer now owns 6,808 shares in the company, valued at approximately $459,403.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Lawrence M. D’angelo sold 8,250 shares of LogMeIn stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $68.70, for a total value of $566,775.00. The disclosure for this sale can be found here.

An institutional investor recently raised its position in LogMeIn stock. Eagle Asset Management boosted its stake in shares of LogMeIn Inc (NASDAQ:LOGM) by 166.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 890,146 shares of the company’s stock after buying an additional 555,930 shares during the period. Eagle Asset Management owned 3.55% of LogMeIn worth $60,672,000 at the end of the most recent quarter.

12 Month Chart for NASDAQ:LOGM

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. The Company’s services are delivered via the cloud as hosted services. The Company offers both free and fee based, or premium, services. The Company’s core cloud-based services are categorized into four business lines: Collaboration, Service and Support, Connected Products and Additional Service Offerings. Its collaboration business consists of services for users to interact with and access the computers, devices, data and people that make up their digital world. join.me, join.me pro and join.me enterprise are its free and premium browser-based online meeting and screen sharing services that give users the ability to host an online meeting with other people.

 

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