BidaskClub Upgrades LogMeIn (NASDAQ:LOGM) to Sell

LogMeIn (NASDAQ:LOGM) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Saturday, BidAskClub reports.

Other analysts also recently issued research reports about the stock. Northland Securities restated a “buy” rating on shares of LogMeIn in a report on Friday, July 26th. Stephens restated an “equal weight” rating and set a $77.00 price target on shares of LogMeIn in a report on Thursday, August 22nd. Zacks Investment Research upgraded shares of LogMeIn from a “hold” rating to a “strong-buy” rating and set a $81.00 price target for the company in a report on Wednesday, July 31st. KeyCorp cut their price target on shares of LogMeIn from $98.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Royal Bank of Canada cut their price target on shares of LogMeIn from $87.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $88.20.

Shares of NASDAQ LOGM traded up $0.80 during midday trading on Friday, reaching $78.98. 614,780 shares of the stock were exchanged, compared to its average volume of 627,934. The company has a 50 day simple moving average of $69.19 and a 200 day simple moving average of $71.96. The stock has a market capitalization of $4.04 billion, a P/E ratio of 17.36, a PEG ratio of 3.97 and a beta of 1.07. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.47 and a current ratio of 0.47. LogMeIn has a twelve month low of $62.02 and a twelve month high of $96.87.

LogMeIn (NASDAQ:LOGM) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.03. The business had revenue of $317.20 million during the quarter, compared to the consensus estimate of $316.29 million. LogMeIn had a net margin of 1.20% and a return on equity of 7.37%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.40 EPS. On average, research analysts expect that LogMeIn will post 4.08 earnings per share for the current year.

In related news, CFO Edward K. Herdiech sold 4,036 shares of LogMeIn stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $80.00, for a total value of $322,880.00. Following the completion of the sale, the chief financial officer now owns 20,572 shares in the company, valued at approximately $1,645,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter John Sacripanti sold 7,124 shares of LogMeIn stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $70.00, for a total transaction of $498,680.00. The disclosure for this sale can be found here. Insiders sold a total of 23,802 shares of company stock valued at $1,819,880 in the last quarter. 2.40% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. Great Lakes Advisors LLC increased its holdings in LogMeIn by 68.4% in the 3rd quarter. Great Lakes Advisors LLC now owns 63,135 shares of the software maker’s stock valued at $4,480,000 after purchasing an additional 25,646 shares during the last quarter. Systematic Financial Management LP increased its holdings in LogMeIn by 71.6% in the 3rd quarter. Systematic Financial Management LP now owns 219,871 shares of the software maker’s stock valued at $15,602,000 after purchasing an additional 91,742 shares during the last quarter. Copeland Capital Management LLC increased its holdings in LogMeIn by 13.8% in the 3rd quarter. Copeland Capital Management LLC now owns 465,144 shares of the software maker’s stock valued at $33,006,000 after purchasing an additional 56,359 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in LogMeIn by 12.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 39,979 shares of the software maker’s stock valued at $2,836,000 after purchasing an additional 4,460 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in LogMeIn by 235.3% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 503 shares of the software maker’s stock valued at $36,000 after purchasing an additional 353 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

About LogMeIn

LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.

Recommended Story: Outstanding Shares

Analyst Recommendations for LogMeIn (NASDAQ:LOGM)

Receive News & Ratings for LogMeIn Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogMeIn and related companies with MarketBeat.com's FREE daily email newsletter.