Oppenheimer Reaffirms Hold Rating for LogMeIn (LOGM)

Oppenheimer reaffirmed their hold rating on shares of LogMeIn (NASDAQ:LOGM) in a research report sent to investors on Wednesday morning.

LOGM has been the topic of a number of other reports. Royal Bank of Canada reaffirmed a buy rating and issued a $140.00 target price on shares of LogMeIn in a research report on Monday, September 4th. Robert W. Baird raised shares of LogMeIn from a neutral rating to an outperform rating and set a $130.00 target price on the stock in a research report on Tuesday, October 3rd. Piper Jaffray Companies reaffirmed a buy rating and issued a $170.00 target price on shares of LogMeIn in a research report on Tuesday, October 24th. Cowen reaffirmed a buy rating and issued a $134.00 target price on shares of LogMeIn in a research report on Friday, September 1st. Finally, Needham & Company LLC cut their price objective on shares of LogMeIn from $135.00 to $130.00 and set a buy rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $136.52.

LogMeIn (LOGM) traded up $0.55 during trading hours on Wednesday, hitting $114.10. 367,043 shares of the stock were exchanged, compared to its average volume of 593,737. The stock has a market cap of $5,977.01, a P/E ratio of 1,037.37, a PEG ratio of 1.98 and a beta of 1.28. LogMeIn has a 12-month low of $90.35 and a 12-month high of $129.51.

LogMeIn (NASDAQ:LOGM) last released its earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.05. The firm had revenue of $269.30 million for the quarter, compared to the consensus estimate of $270.56 million. LogMeIn had a net margin of 1.01% and a return on equity of 5.50%. The company’s revenue was up 216.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. analysts predict that LogMeIn will post 3.28 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Wednesday, November 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.88%. The ex-dividend date was Tuesday, November 7th. LogMeIn’s dividend payout ratio (DPR) is 909.17%.

In related news, insider Christopher Battles sold 1,136 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $119.43, for a total transaction of $135,672.48. Following the sale, the insider now directly owns 2,760 shares of the company’s stock, valued at approximately $329,626.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in LogMeIn by 341.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 330,181 shares of the software maker’s stock valued at $35,429,000 after acquiring an additional 255,338 shares during the period. Renaissance Group LLC lifted its stake in LogMeIn by 0.9% during the 2nd quarter. Renaissance Group LLC now owns 3,445 shares of the software maker’s stock valued at $360,000 after acquiring an additional 32 shares during the period. Neuberger Berman Group LLC lifted its stake in LogMeIn by 110.0% during the 2nd quarter. Neuberger Berman Group LLC now owns 210,764 shares of the software maker’s stock valued at $22,025,000 after acquiring an additional 110,384 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of LogMeIn by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 378,597 shares of the software maker’s stock worth $39,566,000 after purchasing an additional 45,825 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of LogMeIn by 23.6% in the 2nd 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. Institutional investors and hedge funds own 99.27% of the company’s stock.

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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.

Analyst Recommendations for LogMeIn (NASDAQ:LOGM)

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