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 equities research analysts have also issued reports about the stock. Barclays lowered shares of LogMeIn from an “overweight” rating to an “underweight” rating and cut their price target for the stock from $104.00 to $74.00 in a research note on Friday, April 12th. Northland Securities restated a “buy” rating and issued a $125.00 price objective 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 started coverage on shares of LogMeIn in a research note on Thursday, January 3rd. They issued 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 research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $100.45.
Shares of NASDAQ:LOGM opened at $82.04 on Wednesday. LogMeIn has a 12 month low of $74.87 and a 12 month high of $123.00. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.07. The firm has a market cap of $4.10 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.22 and a beta of 1.03.
LogMeIn (NASDAQ:LOGM) last announced its quarterly earnings results on Thursday, February 14th. The software maker reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.06. LogMeIn had a net margin of 6.17% and a return on equity of 7.69%. The firm had revenue of $310.70 million for the quarter, compared to analyst estimates of $306.57 million. During the same period last year, the business earned $1.20 EPS. LogMeIn’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities analysts expect that LogMeIn will post 3.81 EPS for the current fiscal year.
In other LogMeIn news, Director Michael K. Simon sold 22,500 shares of LogMeIn 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 transaction, the director now directly owns 547,074 shares in the company, valued at $44,405,996.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of LOGM. Kohlberg Kravis Roberts & Co. L.P. increased its stake in LogMeIn by 272.7% in the fourth quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 813,676 shares of the software maker’s stock valued at $66,372,000 after purchasing an additional 595,331 shares during the period. Norges Bank acquired a new position in shares of LogMeIn during the fourth quarter worth about $37,914,000. Epoch Investment Partners Inc. increased its stake in shares of LogMeIn by 51.1% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,106,383 shares of the software maker’s stock worth $90,248,000 after acquiring an additional 374,020 shares during the period. Park West Asset Management LLC acquired a new position in shares of LogMeIn during the fourth quarter worth about $29,365,000. Finally, TD Asset Management Inc. acquired a new position in shares of LogMeIn during the fourth quarter worth about $20,182,000. Institutional investors own 97.95% 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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