Brokerages Set LogMein, Inc. (LOGM) Target Price at $136.08

LogMein, Inc. (NASDAQ:LOGM) has received an average rating of “Buy” from the twelve analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $135.96.

LOGM has been the topic of several analyst reports. BidaskClub lowered shares of LogMein from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Cowen and Company reiterated a “buy” rating and set a $134.00 price target on shares of LogMein in a research report on Friday, September 1st. Robert W. Baird reiterated a “hold” rating and set a $130.00 price target on shares of LogMein in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of LogMein from a “hold” rating to a “buy” rating and set a $135.00 target price on the stock in a research report on Wednesday. Finally, Barclays PLC raised their target price on shares of LogMein from $132.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, October 27th.

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In other news, Director Michael K. Simon sold 20,000 shares of LogMein stock in a transaction on Monday, August 7th. The shares were sold at an average price of $116.33, for a total transaction of $2,326,600.00. Following the transaction, the director now owns 790,977 shares in the company, valued at $92,014,354.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher Battles sold 1,136 shares of LogMein stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $119.43, for a total transaction of $135,672.48. Following the transaction, the insider now owns 2,760 shares in the company, valued at approximately $329,626.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,740 shares of company stock worth $5,571,042. 2.50% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Teachers Advisors LLC lifted its holdings in shares of LogMein by 48.6% during the first quarter. Teachers Advisors LLC now owns 348,029 shares of the software maker’s stock worth $33,933,000 after purchasing an additional 113,746 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of LogMein by 110.0% during the second quarter. Neuberger Berman Group LLC now owns 210,764 shares of the software maker’s stock worth $22,025,000 after purchasing an additional 110,384 shares during the period. Renaissance Group LLC lifted its holdings in shares of LogMein by 0.9% during the second quarter. Renaissance Group LLC now owns 3,445 shares of the software maker’s stock worth $360,000 after purchasing an additional 32 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of LogMein by 23.6% during the second quarter. Wells Fargo & Company MN now owns 866,387 shares of the software maker’s stock worth $90,537,000 after purchasing an additional 165,690 shares during the period. Finally, Laurion Capital Management LP acquired a new position in shares of LogMein during the second quarter worth $5,086,000. Institutional investors own 95.68% of the company’s stock.

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 Thomson Reuters’ consensus estimate of $1.11 by $0.05. The business had revenue of $269.30 million for the quarter, compared to analyst estimates of $270.56 million. LogMein had a net margin of 1.01% and a return on equity of 5.50%. The firm’s revenue for the quarter was up 216.5% on a year-over-year basis. During the same quarter last year, the business posted $0.56 EPS.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Wednesday, November 8th will be given a $0.25 dividend. The ex-dividend date is Tuesday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 0.81%. LogMein’s dividend payout ratio is currently 909.17%.

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.

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