LogMeIn (LOGM) Lowered to “Hold” at Zacks Investment Research

LogMeIn (NASDAQ:LOGM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

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 reports about the stock. Robert W. Baird reissued a “hold” rating and set a $130.00 price target on shares of LogMeIn in a research report on Friday, September 1st. Barclays lifted their price target 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. Oppenheimer reaffirmed a “hold” rating on shares of LogMeIn in a report on Wednesday, December 20th. Needham & Company LLC decreased their target price on shares of LogMeIn from $135.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, December 20th. Finally, Cowen reaffirmed a “buy” rating and issued a $145.00 target price on shares of LogMeIn in a report on Sunday, October 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. LogMeIn has a consensus rating of “Buy” and a consensus price target of $136.52.

Shares of LogMeIn (NASDAQ LOGM) opened at $114.60 on Thursday. The firm has a market cap of $6,010.00, a PE ratio of 1,041.82, a PEG ratio of 1.98 and a beta of 1.28. LogMeIn has a 52 week low of $90.35 and a 52 week high of $129.51.

LogMeIn (NASDAQ:LOGM) last announced its earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The firm 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 company’s revenue for the quarter was up 216.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 EPS. equities analysts predict that LogMeIn will post 3.28 earnings per share for the current year.

In other news, insider Christopher Battles sold 1,136 shares of LogMeIn stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $119.43, for a total value of $135,672.48. Following the completion of the sale, the insider now directly owns 2,760 shares in the company, valued at $329,626.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in LOGM. Reliance Trust Co. of Delaware bought a new stake in LogMeIn during the third quarter valued at approximately $201,000. Stephens Inc. AR bought a new stake in LogMeIn during the third quarter valued at approximately $202,000. Dorsey & Whitney Trust CO LLC bought a new stake in LogMeIn during the second quarter valued at approximately $208,000. BB&T Securities LLC bought a new stake in LogMeIn during the second quarter valued at approximately $210,000. Finally, M&T Bank Corp grew its position in LogMeIn by 1.8% during the second quarter. M&T Bank Corp now owns 2,104 shares of the software maker’s stock valued at $219,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 99.25% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This article was first reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this article on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://www.com-unik.info/2017/12/28/logmein-logm-lowered-to-hold-at-zacks-investment-research.html.

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.

Analyst Recommendations for LogMeIn (NASDAQ:LOGM)

What are top analysts saying about LogMeIn? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for LogMeIn and related companies.


Leave a Reply

share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit