LogMeIn (LOGM) Lifted to Buy at BidaskClub

LogMeIn (NASDAQ:LOGM) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Thursday.

A number of other brokerages have also commented on LOGM. Zacks Investment Research raised LogMeIn from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Royal Bank of Canada lowered LogMeIn from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $140.00 to $90.00 in a report on Friday, July 27th. KeyCorp lowered their price target on LogMeIn from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, July 27th. Piper Jaffray Companies lowered LogMeIn from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $135.00 to $95.00 in a report on Friday, July 27th. Finally, Robert W. Baird lowered LogMeIn from an “outperform” rating to a “neutral” rating in a report on Friday, July 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. LogMeIn has an average rating of “Buy” and a consensus target price of $110.10.

Shares of NASDAQ LOGM opened at $85.83 on Thursday. LogMeIn has a 1-year low of $74.87 and a 1-year high of $134.80. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 1.11 and a beta of 1.06.

LogMeIn (NASDAQ:LOGM) last issued its earnings results on Thursday, October 25th. The software maker reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.06. The firm had revenue of $309.58 million for the quarter, compared to analyst estimates of $302.92 million. LogMeIn had a return on equity of 7.19% and a net margin of 12.16%. Sell-side analysts anticipate that LogMeIn will post 4.38 EPS for the current fiscal year.

In other news, Director Michael K. Simon sold 20,000 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $82.63, for a total transaction of $1,652,600.00. Following the transaction, the director now directly owns 644,352 shares of the company’s stock, valued at $53,242,805.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 60,000 shares of company stock worth $5,058,800 over the last three months. Corporate insiders own 2.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. ING Groep NV bought a new position in LogMeIn during the second quarter valued at about $340,000. Northern Trust Corp boosted its stake in LogMeIn by 0.9% during the second quarter. Northern Trust Corp now owns 475,306 shares of the software maker’s stock valued at $49,076,000 after buying an additional 4,168 shares in the last quarter. GAM Holding AG bought a new position in LogMeIn during the second quarter valued at about $360,000. Bessemer Group Inc. boosted its stake in LogMeIn by 16.8% during the second quarter. Bessemer Group Inc. now owns 1,205,447 shares of the software maker’s stock valued at $124,462,000 after buying an additional 173,632 shares in the last quarter. Finally, Dupont Capital Management Corp boosted its stake in LogMeIn by 7.1% during the second quarter. Dupont Capital Management Corp now owns 14,626 shares of the software maker’s stock valued at $1,510,000 after buying an additional 974 shares in the last quarter. 90.99% of the stock is 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.

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Analyst Recommendations for LogMeIn (NASDAQ:LOGM)

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