Todays Report: The LogMein Inc. (LOGM) Stock Rating Reaffirm by Piper Jaffray Cos.

The LogMein Inc. (LOGM) Stock Rating Reaffirm by Piper Jaffray Cos.

Piper Jaffray Cos. reaffirmed their buy rating on shares of LogMein Inc. (NASDAQ:LOGM) in a report published on Tuesday. The firm currently has a $120.00 price objective on the stock.

Several other equities research analysts also recently issued reports on the stock. TheStreet upgraded shares of LogMein from a hold rating to a buy rating in a research report on Wednesday, July 27th. Needham & Company LLC cut their price objective on shares of LogMein from $114.00 to $98.00 and set a strong-buy rating for the company in a research report on Friday, October 14th. Barclays PLC upgraded shares of LogMein from an underweight rating to an overweight rating and raised their price objective for the stock from $82.00 to $105.00 in a research report on Monday, October 3rd. JPMorgan Chase & Co. upgraded shares of LogMein from a neutral rating to an overweight rating and set a $96.00 price objective for the company in a research report on Wednesday, July 27th. Finally, Zacks Investment Research upgraded shares of LogMein from a hold rating to a buy rating and set a $105.00 price target for the company in a research report on Wednesday, October 5th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $89.78.

Shares of LogMein (NASDAQ:LOGM) opened at 108.85 on Tuesday. LogMein has a 52-week low of $35.00 and a 52-week high of $110.10. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 404.65 and a beta of 1.20. The company’s 50-day moving average price is $95.83 and its 200-day moving average price is $79.40.

LogMein (NASDAQ:LOGM) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.03. The firm earned $85.10 million during the quarter, compared to the consensus estimate of $84.29 million. LogMein had a net margin of 2.16% and a return on equity of 13.40%. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share. Equities research analysts forecast that LogMein will post $1.99 EPS for the current fiscal year.

The company also recently disclosed a special dividend, which was paid on Tuesday, November 22nd. Investors of record on Monday, November 7th were paid a $0.50 dividend. The ex-dividend date was Thursday, November 3rd.

In other LogMein news, Director Michael K. Simon sold 50,000 shares of the business’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $91.65, for a total transaction of $4,582,500.00. Following the sale, the director now owns 857,948 shares of the company’s stock, valued at $78,630,934.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in LogMein by 160.9% in the second quarter. Victory Capital Management Inc. now owns 2,069 shares of the company’s stock worth $131,000 after buying an additional 1,276 shares during the last quarter. Advisor Group Inc. boosted its stake in LogMein by 77.3% in the third quarter. Advisor Group Inc. now owns 1,498 shares of the company’s stock worth $135,000 after buying an additional 653 shares during the last quarter. PineBridge Investments L.P. boosted its stake in LogMein by 3.4% in the second quarter. PineBridge Investments L.P. now owns 3,170 shares of the company’s stock worth $201,000 after buying an additional 103 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in LogMein during the second quarter worth $208,000. Finally, Profund Advisors LLC bought a new stake in LogMein during the second quarter worth $211,000.

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