LogMein Inc. (NASDAQ:LOGM) had its price target lowered by Needham & Company LLC from $114.00 to $98.00 in a research report released on Friday morning. The brokerage currently has a strong-buy rating on the stock.
Several other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of LogMein from a hold rating to a buy rating and set a $105.00 target price for the company in a report on Wednesday, October 5th. Barclays PLC upgraded shares of LogMein from an underweight rating to an overweight rating and raised their price target for the stock from $82.00 to $105.00 in a report on Monday, October 3rd. TheStreet upgraded shares of LogMein from a hold rating to a buy rating in a report on Wednesday, July 27th. Piper Jaffray Cos. restated an overweight rating on shares of LogMein in a report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. upgraded shares of LogMein from a neutral rating to an overweight rating and set a $96.00 price target for the company in a report on Wednesday, July 27th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. LogMein has a consensus rating of Buy and a consensus price target of $84.22.
LogMein (NASDAQ:LOGM) traded down 0.0224% during midday trading on Friday, hitting $89.5899. 14,807 shares of the stock traded hands. LogMein has a 1-year low of $35.00 and a 1-year high of $95.99. The firm has a market cap of $2.27 billion, a P/E ratio of 176.0116 and a beta of 1.37. The company has a 50-day moving average price of $89.73 and a 200-day moving average price of $70.18.
LogMein (NASDAQ:LOGM) last announced its earnings results on Tuesday, July 26th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. LogMein had a net margin of 4.29% and a return on equity of 12.99%. The company earned $83.30 million during the quarter, compared to analysts’ expectations of $81.80 million. During the same period last year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was up 28.4% on a year-over-year basis. Analysts predict that LogMein will post $1.93 EPS for the current year.
In other news, SVP Michael J. Donahue sold 4,137 shares of LogMein stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $80.13, for a total value of $331,497.81. Following the transaction, the senior vice president now owns 8,137 shares of the company’s stock, valued at $652,017.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Marilyn Matz sold 500 shares of LogMein stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $83.20, for a total transaction of $41,600.00. Following the completion of the transaction, the director now directly owns 1,950 shares in the company, valued at approximately $162,240. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its position in LogMein by 35.6% in the first quarter. Aperio Group LLC now owns 4,968 shares of the company’s stock worth $251,000 after buying an additional 1,305 shares in the last quarter. BlackRock Inc. raised its position in LogMein by 1.1% in the first quarter. BlackRock Inc. now owns 17,141 shares of the company’s stock worth $865,000 after buying an additional 194 shares in the last quarter. BlackRock Group LTD raised its position in LogMein by 3.3% in the first quarter. BlackRock Group LTD now owns 72,899 shares of the company’s stock worth $3,679,000 after buying an additional 2,331 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in LogMein by 11.9% in the first quarter. UBS Asset Management Americas Inc. now owns 44,563 shares of the company’s stock worth $2,248,000 after buying an additional 4,723 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in LogMein during the first quarter worth approximately $497,000.