LogMein, Inc. (NASDAQ:LOGM) Raised to Strong-Buy at BidaskClub

LogMein, Inc. (NASDAQ:LOGM) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday, July 24th.

A number of other analysts have also recently weighed in on the stock. Piper Jaffray Companies reiterated an “overweight” rating and set a $150.00 price target on shares of LogMein in a research note on Friday, June 23rd. Cowen and Company increased their price target on shares of LogMein from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Needham & Company LLC reiterated a “buy” rating and set a $125.00 price target (up previously from $110.00) on shares of LogMein in a research note on Friday, May 5th. Zacks Investment Research cut shares of LogMein from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Finally, Vetr cut shares of LogMein from a “hold” rating to a “sell” rating and set a $101.67 price target for the company. in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $127.74.

Shares of LogMein (NASDAQ:LOGM) opened at 113.50 on Monday. LogMein has a 52-week low of $79.63 and a 52-week high of $123.95. The stock’s market capitalization is $5.98 billion. The company has a 50-day moving average of $112.29 and a 200-day moving average of $106.70.

LogMein (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.08. The firm had revenue of $266.95 million during the quarter, compared to analysts’ expectations of $264.95 million. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. LogMein’s quarterly revenue was up 220.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 EPS. Equities research analysts anticipate that LogMein will post $4.06 EPS for the current year.

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In other news, insider Christopher Battles sold 721 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $117.78, for a total value of $84,919.38. Following the completion of the transaction, the insider now owns 2,036 shares in the company, valued at approximately $239,800.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Raymond Wagner sold 4,588 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $116.30, for a total transaction of $533,584.40. Following the completion of the transaction, the chief executive officer now owns 69,542 shares of the company’s stock, valued at approximately $8,087,734.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,860 shares of company stock valued at $13,258,245. 2.50% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC increased its position in shares of LogMein by 316.8% in the second quarter. Penserra Capital Management LLC now owns 8,224 shares of the software maker’s stock worth $104,000 after buying an additional 6,251 shares in the last quarter. Nikko Asset Management Americas Inc. bought a new position in shares of LogMein during the first quarter worth about $105,000. Creative Planning increased its position in shares of LogMein by 142.9% in the first quarter. Creative Planning now owns 1,144 shares of the software maker’s stock worth $112,000 after buying an additional 673 shares in the last quarter. Amica Pension Fund Board of Trustees bought a new position in shares of LogMein during the first quarter worth about $151,000. Finally, Amica Mutual Insurance Co. bought a new position in shares of LogMein during the first quarter worth about $152,000. Institutional investors and hedge funds own 97.39% of the company’s stock.

LogMein Company Profile

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.

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