LogMein (LOGM) Receives Hold Rating from Oppenheimer

LogMein (NASDAQ:LOGM)‘s stock had its “hold” rating restated by investment analysts at Oppenheimer in a research report issued on Wednesday.

Several other equities research analysts have also commented on the stock. Cowen restated a “buy” rating and issued a $134.00 price target on shares of LogMein in a report 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 report on Monday, September 4th. Robert W. Baird restated a “hold” rating and issued a $130.00 price target on shares of LogMein in a report on Friday, September 1st. Piper Jaffray Companies restated a “buy” rating and issued a $170.00 price target on shares of LogMein in a report on Tuesday, October 24th. Finally, Barclays boosted their price target on shares of LogMein from $132.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $136.52.

LogMein (LOGM) traded down $3.70 during trading hours on Wednesday, hitting $116.75. 1,387,800 shares of the stock traded hands, compared to its average volume of 711,397. LogMein has a twelve month low of $90.35 and a twelve month high of $129.51. The company has a market cap of $6,340.21, a price-to-earnings ratio of 44.94, a P/E/G ratio of 2.10 and a beta of 1.28.

LogMein (NASDAQ:LOGM) last posted its quarterly earnings results on Thursday, October 26th. The software maker reported $1.16 EPS for the quarter, beating the consensus estimate of $1.11 by $0.05. LogMein had a net margin of 1.01% and a return on equity of 5.50%. The business had revenue of $269.30 million during the quarter, compared to analyst estimates of $270.56 million. During the same quarter in the previous year, the business posted $0.56 EPS. The company’s quarterly revenue was up 216.5% compared to the same quarter last year. analysts expect that LogMein will post 3.28 earnings per share for the current fiscal 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 transaction, the insider now owns 2,760 shares of the company’s stock, valued at approximately $329,626.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.50% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of the company. Renaissance Group LLC grew its position in shares of LogMein by 0.9% in the 2nd quarter. Renaissance Group LLC now owns 3,445 shares of the software maker’s stock worth $360,000 after buying an additional 32 shares during the last quarter. M&T Bank Corp grew its position in LogMein by 1.8% during the 2nd quarter. M&T Bank Corp now owns 2,104 shares of the software maker’s stock worth $219,000 after purchasing an additional 37 shares during the last quarter. D.A. Davidson & CO. grew its position in LogMein by 1.5% during the 2nd quarter. D.A. Davidson & CO. now owns 4,127 shares of the software maker’s stock worth $431,000 after purchasing an additional 61 shares during the last quarter. Advisor Group Inc. grew its position in LogMein by 4.0% during the 2nd quarter. Advisor Group Inc. now owns 3,236 shares of the software maker’s stock worth $335,000 after purchasing an additional 123 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in LogMein by 9.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,140 shares of the software maker’s stock worth $224,000 after purchasing an additional 189 shares during the last quarter. 99.27% of the stock is currently 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.

Analyst Recommendations for LogMein (NASDAQ:LOGM)

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