Logmein Inc (NASDAQ:LOGM) Rating
New York: In analysts report shared with investors on Friday morning, RBC Capital Markets restate their “Outperform” rating on shares of Logmein Inc (NASDAQ:LOGM). They currently have a $65.00 target price per share on the firm. RBC Capital Markets’s target would indicate a potential upside of 49.74% from the company’s last stock price.
Out of 10 analysts covering LogMeIn (NASDAQ:LOGM), 8 rate it “Buy”, 1 “Sell”, while 2 “Hold”. This means 73% are positive. $86 is the highest target while $45 is the lowest. The $67.3 average target is 72.84% above today’s ($45.03) stock price. LogMeIn was the topic in 13 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Needham maintained the stock on February 12 with “Strong Buy” rating. KeyBanc Capital Markets upgraded the shares of LOGM in a report on August 28 to “Overweight” rating. Finally, Northland Capital maintained the stock with “Outperform” rating in a July 24 report.
The stock increased 3.73% or $1.62 on February 12, hitting $45.03. About 1.58 million shares traded hands or 439.46% up from the average. LogMeIn Inc (NASDAQ:LOGM) has declined 28.76% since July 10, 2015 and is downtrending. It has underperformed by 18.56% the S&P500.
The institutional sentiment increased to 1.25 in 2015 Q3. Its up 0.01, from 1.24 in 2015Q2. The ratio increased, as 26 funds sold all LogMeIn Inc shares owned while 62 reduced positions. 32 funds bought stakes while 78 increased positions. They now own 24.39 million shares or 0.52% more from 24.26 million shares in 2015Q2.
Ashford Capital Management Inc holds 4.8% of its portfolio in LogMeIn Inc for 300,344 shares. Oberweis Asset Management Inc owns 122,900 shares or 2.44% of their US portfolio. Moreover, Millrace Asset Group Inc. has 2.17% invested in the company for 29,598 shares. The California-based Light Street Capital Management Llc has invested 2.04% in the stock. Rs Investment Management Co Llc, a California-based fund reported 2.96 million shares.
Since May 1, 2015, the stock had 0 buys, and 4 insider sales for $2.88 million net activity. Matz Marilyn sold 2,300 shares worth $143,018. Simon Michael K sold 20,000 shares worth $1.22 million. Donahue Michael J sold 3,790 shares worth $269,498. Hughes Gregory sold 1,425 shares worth $101,047. The insider Kaplan Matthew P. sold 2,660 shares worth $194,521.
LogMeIn, Inc. provides a portfolio of cloud service offerings. The company has a market cap of $1.14 billion. The Company’s services range from free downloadable mobile and Web collaboration apps to enterprise grade professional helpdesk solutions to a cloud platform for the Internet of Things, all of which are accessible with an Internet connection. It has 100.12 P/E ratio. The Company’s services are delivered via the cloud as hosted services.
According to Zacks Investment Research, “LogMeIn Inc., with world headquarters located near Boston in Woburn, Massachusetts, is a leading provider of on-demand, remote-connectivity and support solutions to small businesses, IT service providers and consumers. The company also has its European headquarters in Amsterdam, the Netherlands, and a development center in Budapest, Hungary. LogMeIn’s software-as-a-service suite of solutions includes capabilities for on-demand customer support of PCs, smartphones and other devices, systems administration, remote access, remote control, file-sharing, virtual private networking, data back-up and online meeting. Its solutions, which are deployed on-demand and accessible through a Web browser, are secure, scalable and easy for its customers to try, purchase and use. The company’s vision is to improve mobility, business productivity and connectivity through its Connectivity as a ServiceSM solutions.”