LogMeIn (LOGM) Price Target Raised to $140.00

LogMeIn (NASDAQ:LOGM) had its price target raised by Needham & Company LLC from $130.00 to $140.00 in a research note released on Friday morning, Marketbeat reports. The firm currently has a buy rating on the software maker’s stock.

Several other analysts have also recently weighed in on LOGM. BidaskClub raised shares of LogMeIn from a buy rating to a strong-buy rating in a research note on Saturday, February 10th. Zacks Investment Research raised shares of LogMeIn from a hold rating to a buy rating and set a $135.00 price objective on the stock in a research note on Wednesday, November 1st. Oppenheimer reissued a hold rating on shares of LogMeIn in a research note on Wednesday, December 20th. Barclays boosted their price objective on shares of LogMeIn from $132.00 to $142.00 and gave the stock an overweight rating in a research note on Friday, October 27th. Finally, Piper Jaffray Companies reissued a buy rating and issued a $170.00 price objective on shares of LogMeIn in a research note on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. LogMeIn has an average rating of Buy and a consensus target price of $137.63.

LogMeIn (LOGM) opened at $122.45 on Friday. LogMeIn has a 1-year low of $90.35 and a 1-year high of $134.80. The stock has a market cap of $6,450.00, a price-to-earnings ratio of 720.29, a PEG ratio of 1.74 and a beta of 1.36.

LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings data on Thursday, February 15th. The software maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.03. LogMeIn had a net margin of 10.06% and a return on equity of 5.57%. The company had revenue of $276.03 million for the quarter, compared to analysts’ expectations of $276.75 million. During the same quarter in the previous year, the firm posted $0.62 earnings per share. LogMeIn’s revenue for the quarter was up 213.8% on a year-over-year basis. equities research analysts expect that LogMeIn will post 4.02 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Monday, February 12th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, February 9th. This represents a $1.20 dividend on an annualized basis and a yield of 0.98%. This is a boost from LogMeIn’s previous quarterly dividend of $0.25. LogMeIn’s dividend payout ratio is 705.88%.

A number of institutional investors and hedge funds have recently modified their holdings of LOGM. Reliance Trust Co. of Delaware bought a new stake in LogMeIn during the third quarter valued at $201,000. Stephens Inc. AR bought a new stake in LogMeIn during the third quarter valued at $202,000. Bray Capital Advisors bought a new stake in LogMeIn during the fourth quarter valued at $204,000. C M Bidwell & Associates Ltd. bought a new stake in LogMeIn during the fourth quarter valued at $206,000. Finally, Jefferies Group LLC bought a new stake in LogMeIn during the fourth quarter valued at $206,000. 99.23% of the stock is currently owned by institutional investors and hedge funds.

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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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