LogMeIn (NASDAQ:LOGM) Upgraded to Hold by ValuEngine

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LogMeIn (NASDAQ:LOGM) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Wednesday, June 20th.

Several other brokerages have also issued reports on LOGM. BidaskClub raised shares of LogMeIn from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 15th. Zacks Investment Research lowered shares of LogMeIn from a “buy” rating to a “sell” rating in a report on Thursday, April 19th. TheStreet lowered shares of LogMeIn from a “b” rating to a “c+” rating in a report on Thursday, April 26th. Robert W. Baird restated a “buy” rating and issued a $145.00 price target on shares of LogMeIn in a research report on Sunday, April 29th. Finally, KeyCorp assumed coverage on shares of LogMeIn in a research report on Friday, April 6th. They issued an “overweight” rating and a $135.00 price target on the stock. Three analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $142.56.

Shares of LOGM stock opened at $103.25 on Wednesday. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 30.82, a PEG ratio of 1.41 and a beta of 1.35. LogMeIn has a one year low of $99.45 and a one year high of $134.80.

LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings data on Thursday, April 26th. The software maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.03. LogMeIn had a net margin of 13.67% and a return on equity of 6.31%. The business had revenue of $280.30 million during the quarter, compared to analysts’ expectations of $277.43 million. During the same quarter in the previous year, the company earned $0.85 EPS. The business’s revenue was up 39.4% on a year-over-year basis. equities research analysts expect that LogMeIn will post 4.15 EPS for the current year.

In other news, CFO Edward K. Herdiech sold 10,255 shares of the stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $110.03, for a total value of $1,128,357.65. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP James Lok sold 1,521 shares of the stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $106.30, for a total transaction of $161,682.30. Following the completion of the sale, the senior vice president now directly owns 4,813 shares in the company, valued at $511,621.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,081 shares of company stock valued at $15,752,754. 2.50% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Assetmark Inc. raised its stake in LogMeIn by 77.5% in the first quarter. Assetmark Inc. now owns 1,436 shares of the software maker’s stock valued at $166,000 after purchasing an additional 627 shares in the last quarter. Jefferies Group LLC purchased a new stake in LogMeIn in the fourth quarter valued at approximately $206,000. Silvant Capital Management LLC purchased a new stake in LogMeIn in the first quarter valued at approximately $267,000. Oppenheimer & Co. Inc. purchased a new stake in LogMeIn in the fourth quarter valued at approximately $317,000. Finally, Ranger Investment Management L.P. raised its stake in LogMeIn by 20.3% in the fourth quarter. Ranger Investment Management L.P. now owns 3,080 shares of the software maker’s stock valued at $353,000 after purchasing an additional 520 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for LogMeIn (NASDAQ:LOGM)

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