LogMeIn (NASDAQ:LOGM) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of LogMeIn (NASDAQ:LOGM) from a sell rating to a hold rating in a research report report published on Wednesday, ValuEngine reports.

A number of other equities analysts have also recently weighed in on LOGM. Zacks Investment Research raised LogMeIn from a hold rating to a strong-buy rating and set a $81.00 price target on the stock in a research note on Wednesday, July 31st. Northland Securities reissued a buy rating on shares of LogMeIn in a research note on Friday, July 26th. BidaskClub raised LogMeIn from a strong sell rating to a sell rating in a research note on Thursday, September 12th. Robert W. Baird set a $85.00 price target on LogMeIn and gave the stock a hold rating in a research note on Friday, July 26th. Finally, Stephens reissued an equal weight rating and issued a $77.00 price target on shares of LogMeIn in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. LogMeIn currently has a consensus rating of Hold and a consensus target price of $91.11.

NASDAQ:LOGM traded up $0.05 during mid-day trading on Wednesday, reaching $68.01. 389,549 shares of the stock were exchanged, compared to its average volume of 488,610. The business has a fifty day moving average price of $68.80 and a 200 day moving average price of $74.70. The firm has a market capitalization of $3.39 billion, a PE ratio of 14.95, a PEG ratio of 3.38 and a beta of 1.09. LogMeIn has a 1-year low of $65.04 and a 1-year high of $96.87. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.10.

LogMeIn (NASDAQ:LOGM) last released its earnings results on Thursday, July 25th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. The firm had revenue of $313.10 million for the quarter, compared to analyst estimates of $310.98 million. LogMeIn had a return on equity of 7.44% and a net margin of 1.82%. LogMeIn’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 earnings per share. On average, sell-side analysts forecast that LogMeIn will post 4.02 earnings per share for the current year.

In other LogMeIn news, Director Peter John Sacripanti sold 7,124 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $70.00, for a total transaction of $498,680.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven J. Benson sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $66.96, for a total value of $66,960.00. Following the sale, the director now owns 2,223 shares of the company’s stock, valued at $148,852.08. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in LOGM. Stonebridge Capital Advisors LLC acquired a new stake in LogMeIn during the 2nd quarter worth about $33,000. CSat Investment Advisory L.P. acquired a new stake in LogMeIn during the 2nd quarter worth about $100,000. Cerebellum GP LLC acquired a new stake in LogMeIn during the 1st quarter worth about $117,000. Cresset Asset Management LLC boosted its position in LogMeIn by 270.6% during the 2nd quarter. Cresset Asset Management LLC now owns 2,954 shares of the software maker’s stock worth $218,000 after acquiring an additional 2,157 shares during the period. Finally, Shepherd Kaplan Krochuk LLC acquired a new stake in LogMeIn during the 2nd quarter worth about $221,000. Hedge funds and other institutional investors own 95.59% of the company’s stock.

LogMeIn Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for LogMeIn (NASDAQ:LOGM)

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