LogMeIn (NASDAQ:LOGM) Downgraded by BidaskClub

LogMeIn (NASDAQ:LOGM) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday, January 19th.

Other equities research analysts have also recently issued reports about the company. Cowen restated a “buy” rating and set a $145.00 price objective on shares of LogMeIn in a research note on Sunday, October 29th. Zacks Investment Research upgraded LogMeIn from a “hold” rating to a “buy” rating and set a $135.00 price objective for the company in a research note on Wednesday, November 1st. Barclays upped their price objective on LogMeIn from $132.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Needham & Company LLC decreased their price target on LogMeIn from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, December 20th. Finally, Robert W. Baird upgraded LogMeIn from a “neutral” rating to an “outperform” rating and set a $130.00 price target for the company in a research note on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $136.52.

LogMeIn (NASDAQ LOGM) traded up $4.25 on Friday, hitting $130.20. The stock had a trading volume of 1,038,994 shares, compared to its average volume of 480,574. LogMeIn has a fifty-two week low of $90.35 and a fifty-two week high of $131.20. The company has a market cap of $6,566.55, a P/E ratio of 1,145.10, a price-to-earnings-growth ratio of 1.77 and a beta of 1.36.

A number of institutional investors and hedge funds have recently modified their holdings of the business. M&T Bank Corp grew its holdings in LogMeIn by 1.8% in the second quarter. M&T Bank Corp now owns 2,104 shares of the software maker’s stock valued at $219,000 after purchasing an additional 37 shares during the period. D.A. Davidson & CO. boosted its stake in shares of LogMeIn by 1.5% in the second quarter. D.A. Davidson & CO. now owns 4,127 shares of the software maker’s stock worth $431,000 after acquiring an additional 61 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of LogMeIn by 4.0% in the second quarter. Advisor Group Inc. now owns 3,236 shares of the software maker’s stock worth $335,000 after acquiring an additional 123 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of LogMeIn by 1.3% in the second quarter. PNC Financial Services Group Inc. now owns 26,016 shares of the software maker’s stock worth $2,718,000 after acquiring an additional 346 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of LogMeIn by 3.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 14,507 shares of the software maker’s stock worth $1,597,000 after acquiring an additional 423 shares during the last quarter. 99.23% of the stock is currently owned by 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.

Analyst Recommendations for LogMeIn (NASDAQ:LOGM)

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