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.