Oppenheimer reissued their hold rating on shares of LogMeIn (NASDAQ:LOGM) in a research note released on Wednesday, December 20th.
A number of other research firms also recently weighed in on LOGM. Cowen restated a buy rating and issued a $134.00 price target on shares of LogMeIn in a research note on Friday, September 1st. Royal Bank of Canada restated a buy rating and issued a $140.00 price target on shares of LogMeIn in a research note on Monday, September 4th. Robert W. Baird reaffirmed a hold rating and set a $130.00 price objective on shares of LogMeIn in a report on Friday, September 1st. Piper Jaffray Companies reaffirmed a buy rating and set a $170.00 price objective on shares of LogMeIn in a report on Tuesday, October 24th. Finally, Barclays lifted their price objective on LogMeIn from $132.00 to $142.00 and gave the stock an overweight rating in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $136.52.
Shares of LogMeIn (NASDAQ LOGM) opened at $119.70 on Wednesday. The firm has a market capitalization of $6,300.00, a PE ratio of 1,088.18, a PEG ratio of 1.72 and a beta of 1.29. LogMeIn has a 12-month low of $90.35 and a 12-month high of $129.51.
LogMeIn (NASDAQ:LOGM) last released its quarterly earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. LogMeIn had a return on equity of 5.50% and a net margin of 1.01%. The firm had revenue of $269.30 million for the quarter, compared to the consensus estimate of $270.56 million. During the same quarter last year, the business posted $0.56 EPS. The firm’s quarterly revenue was up 216.5% compared to the same quarter last year. research analysts anticipate that LogMeIn will post 3.28 earnings per share for the current year.
In related news, insider Christopher Battles sold 1,136 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $119.43, for a total value of $135,672.48. Following the completion of the transaction, the insider now directly owns 2,760 shares in the company, valued at $329,626.80. The transaction 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.
A number of hedge funds have recently bought and sold shares of the business. Sit Investment Associates Inc. grew its position in LogMeIn by 48.1% during the fourth quarter. Sit Investment Associates Inc. now owns 36,900 shares of the software maker’s stock valued at $4,225,000 after acquiring an additional 11,980 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of LogMeIn by 2.9% in the third quarter. Parametric Portfolio Associates LLC now owns 112,955 shares of the software maker’s stock worth $12,431,000 after buying an additional 3,139 shares during the period. AXA purchased a new stake in shares of LogMeIn in the third quarter worth about $6,042,000. Neuberger Berman Group LLC boosted its position in shares of LogMeIn by 16.3% in the third quarter. Neuberger Berman Group LLC now owns 245,215 shares of the software maker’s stock worth $26,986,000 after buying an additional 34,451 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in shares of LogMeIn by 31.4% in the third quarter. Cubist Systematic Strategies LLC now owns 26,593 shares of the software maker’s stock worth $2,927,000 after buying an additional 6,360 shares during the period. 99.25% of the stock is owned by hedge funds and other institutional investors.
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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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