LogMeIn Inc (LOGM) Receives $95.00 Consensus PT from Analysts

LogMeIn Inc (NASDAQ:LOGM) has earned an average recommendation of “Hold” from the sixteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $94.78.

LOGM has been the subject of several recent research reports. Barclays cut LogMeIn from an “overweight” rating to an “underweight” rating and cut their price target for the company from $104.00 to $74.00 in a research note on Friday, April 12th. Northland Securities reiterated a “buy” rating and issued a $125.00 price target on shares of LogMeIn in a research note on Friday, March 22nd. TheStreet cut LogMeIn from a “b” rating to a “c” rating in a research note on Friday, April 26th. KeyCorp cut their price target on LogMeIn from $120.00 to $95.00 and set an “overweight” rating for the company in a research note on Friday, February 15th. Finally, Needham & Company LLC cut LogMeIn from a “buy” rating to a “hold” rating in a research note on Friday, February 15th.

Shares of LOGM stock traded down $0.56 during trading on Friday, hitting $79.72. The company had a trading volume of 580,210 shares, compared to its average volume of 797,896. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.07. The stock has a market cap of $4.01 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 1.70 and a beta of 1.02. LogMeIn has a one year low of $74.87 and a one year high of $117.30.

LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, April 25th. The software maker reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.27. The business had revenue of $307.70 million during the quarter, compared to analysts’ expectations of $305.57 million. LogMeIn had a return on equity of 7.68% and a net margin of 2.89%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 earnings per share. Analysts forecast that LogMeIn will post 3.86 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, May 7th. LogMeIn’s payout ratio is presently 28.57%.

In other LogMeIn news, Director Michael K. Simon sold 22,500 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $82.29, for a total transaction of $1,851,525.00. Following the completion of the sale, the director now directly owns 531,864 shares in the company, valued at $43,767,088.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 67,500 shares of company stock valued at $5,505,300 over the last 90 days. Corporate insiders own 2.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in LogMeIn by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 58,530 shares of the software maker’s stock valued at $5,215,000 after purchasing an additional 3,719 shares during the last quarter. LPL Financial LLC increased its stake in LogMeIn by 267.3% in the third quarter. LPL Financial LLC now owns 13,248 shares of the software maker’s stock valued at $1,180,000 after purchasing an additional 9,641 shares during the last quarter. Jane Street Group LLC increased its stake in LogMeIn by 270.9% in the third quarter. Jane Street Group LLC now owns 8,832 shares of the software maker’s stock valued at $787,000 after purchasing an additional 6,451 shares during the last quarter. Teachers Advisors LLC increased its stake in LogMeIn by 1.4% in the third quarter. Teachers Advisors LLC now owns 122,710 shares of the software maker’s stock valued at $10,933,000 after purchasing an additional 1,642 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in LogMeIn by 58.0% in the third quarter. Nordea Investment Management AB now owns 74,140 shares of the software maker’s stock valued at $6,604,000 after purchasing an additional 27,204 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

LogMeIn Company Profile

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.

See Also: What is the CBOE Russell 2000® Volatility Index?

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.