LogMeIn (NASDAQ:LOGM) Rating Lowered to Sell at BidaskClub

BidaskClub downgraded shares of LogMeIn (NASDAQ:LOGM) from a hold rating to a sell rating in a research note published on Wednesday morning, BidAskClub reports.

A number of other brokerages have also commented on LOGM. KeyCorp lowered their price objective on LogMeIn from $120.00 to $95.00 and set an overweight rating for the company in a research report on Friday, February 15th. Oppenheimer cut LogMeIn from an outperform rating to a market perform rating and set a $105.00 target price on the stock. in a report on Friday, February 15th. Needham & Company LLC cut LogMeIn from a buy rating to a hold rating in a report on Friday, February 15th. Northland Securities restated a buy rating and set a $125.00 target price on shares of LogMeIn in a report on Friday, April 26th. Finally, Zacks Investment Research cut LogMeIn from a hold rating to a sell rating in a report on Tuesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. LogMeIn currently has a consensus rating of Hold and a consensus target price of $94.90.

Shares of LOGM stock opened at $70.80 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market capitalization of $3.53 billion, a P/E ratio of 15.56, a PEG ratio of 1.47 and a beta of 1.11. LogMeIn has a 12 month low of $69.18 and a 12 month high of $114.45.

LogMeIn (NASDAQ:LOGM) last announced its quarterly earnings data on Thursday, April 25th. The software maker reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.27. The firm had revenue of $307.70 million during the quarter, compared to analyst estimates of $305.57 million. LogMeIn had a return on equity of 7.68% and a net margin of 2.89%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share. Equities analysts anticipate that LogMeIn will post 3.86 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Wednesday, May 8th were issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Tuesday, May 7th. LogMeIn’s dividend payout ratio (DPR) is currently 28.57%.

In other LogMeIn news, Director Michael K. Simon sold 22,500 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $75.79, for a total transaction of $1,705,275.00. Following the transaction, the director now owns 504,753 shares in the company, valued at $38,255,229.87. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.40% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in LOGM. Kohlberg Kravis Roberts & Co. L.P. lifted its holdings in shares of LogMeIn by 272.7% during the 4th quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 813,676 shares of the software maker’s stock valued at $66,372,000 after purchasing an additional 595,331 shares in the last quarter. Norges Bank bought a new position in shares of LogMeIn during the 4th quarter valued at about $37,914,000. Epoch Investment Partners Inc. lifted its holdings in shares of LogMeIn by 51.1% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,106,383 shares of the software maker’s stock valued at $90,248,000 after purchasing an additional 374,020 shares in the last quarter. Park West Asset Management LLC bought a new position in shares of LogMeIn during the 4th quarter valued at about $29,365,000. Finally, BlackRock Inc. lifted its holdings in shares of LogMeIn by 7.9% during the 1st quarter. BlackRock Inc. now owns 4,906,972 shares of the software maker’s stock valued at $393,048,000 after purchasing an additional 359,569 shares in the last quarter. Institutional investors and hedge funds own 97.11% 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.

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Analyst Recommendations for LogMeIn (NASDAQ:LOGM)

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