According to Zacks, “LogMeIn reaps benefits from a strong product portfolio comprising Jive, Bold360 ai and LastPass. The company’s efforts to address renewal headwinds in the Communications & Collaboration business are also garnering solid returns. Flow of deals also remains strong, aiding the company’s top-line growth. Estimates have been stable, lately, ahead of the company’s Q1 earnings release. The company has a positive record of earnings surprises in recent quarters. However, LogMeIn's shares have underperformed the industry in the past year. Intensifying competition from Adobe Connect, Google and Microsoft Skype pose as major threats to the company. Moreover, higher spending on sales & marketing plus research & development expenses are putting margins under pressure.”
Other research analysts have also issued research reports about the stock. Barclays lowered shares of LogMeIn from an “overweight” rating to an “underweight” rating and cut their price target for the company from $104.00 to $74.00 in a research note on Friday, April 12th. Northland Securities restated a “buy” rating and set a $125.00 price target on shares of LogMeIn in a research note on Friday, March 22nd. BidaskClub lowered shares of LogMeIn from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Stephens began coverage on shares of LogMeIn in a research note on Thursday, January 3rd. They set an “overweight” rating on the stock. Finally, ValuEngine lowered shares of LogMeIn from a “hold” rating to a “sell” rating in a research note on Friday, February 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $100.45.
LogMeIn (NASDAQ:LOGM) last posted its quarterly earnings data on Thursday, February 14th. The software maker reported $1.47 EPS for the quarter, topping the consensus estimate of $1.41 by $0.06. The firm had revenue of $310.70 million during the quarter, compared to analyst estimates of $306.57 million. LogMeIn had a net margin of 6.17% and a return on equity of 7.69%. LogMeIn’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.20 EPS. On average, equities research analysts anticipate that LogMeIn will post 3.81 earnings per share for the current fiscal year.
In other news, Director Michael K. Simon sold 22,500 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $81.17, for a total value of $1,826,325.00. Following the sale, the director now directly owns 547,074 shares of the company’s stock, valued at approximately $44,405,996.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in LOGM. Flagship Harbor Advisors LLC boosted its holdings in shares of LogMeIn by 59.3% in the 1st quarter. Flagship Harbor Advisors LLC now owns 567 shares of the software maker’s stock valued at $45,000 after acquiring an additional 211 shares during the last quarter. IFP Advisors Inc boosted its holdings in LogMeIn by 853.7% during the fourth quarter. IFP Advisors Inc now owns 782 shares of the software maker’s stock worth $63,000 after buying an additional 700 shares in the last quarter. Enlightenment Research LLC purchased a new stake in LogMeIn during the fourth quarter worth $65,000. Oppenheimer Asset Management Inc. purchased a new stake in LogMeIn during the fourth quarter worth $96,000. Finally, Ffcm LLC boosted its holdings in LogMeIn by 2,045.0% during the fourth quarter. Ffcm LLC now owns 1,287 shares of the software maker’s stock worth $105,000 after buying an additional 1,227 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.
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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