LogMeIn Inc (LOGM) is Reiterated by Needham to Strong Buy, Raises Price Target to $ 98

LogMeIn Inc (LOGM) was Reiterated by Needham to “Strong Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 98 from a previous price target of $81 . Needham advised their investors in a research report released on Jul 27, 2016.

Many Wall Street Analysts have commented on LogMeIn Inc. Company shares were Reiterated by Barclays on Jul 27, 2016 to “Underweight”, Firm has raised the Price Target to $ 82 from a previous price target of $57 .LogMeIn Inc was Upgraded by JP Morgan to ” Overweight” on Jul 27, 2016. LogMeIn Inc was Downgraded by Pacific Crest to ” Sector Weight” on Jul 27, 2016.

On the company’s financial health, LogMeIn Inc reported $0.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.30. The company had revenue of $79.70 million for the quarter, compared to analysts expectations of $77.76 million. The company’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

LogMeIn Inc opened for trading at $83.65 and hit $86 on the upside on Thursday, eventually ending the session at $85.72, with a gain of 2.51% or 2.1 points. The heightened volatility saw the trading volume jump to 13,94,160 shares. Company has a market cap of $2,143 M.

In a different news, on Jun 10, 2016, Michael K Simon (director) sold 11,296 shares at $62.60 per share price. According to the SEC, on Jun 3, 2016, Lawrence M. D’angelo (SVP, Sales) sold 11,891 shares at $62.64 per share price. On May 24, 2016, Michael J Donahue (SVP and General Counsel) sold 3,939 shares at $60.13 per share price, according to the Form-4 filing with the securities and exchange commission.

LogMeIn Inc. provides a portfolio of cloud-based service offerings. The Company’s services range from free downloadable mobile and Web-based collaboration apps to enterprise grade professional helpdesk solutions to a cloud-based platform for the Internet of Things all of which are accessible with an Internet connection. The Company’s services are delivered via the cloud as hosted services. The Company offers both free and fee based or premium services. The Company’s core cloud-based services are categorized into four business lines: Collaboration Service and Support Connected Products and Additional Service Offerings. Its collaboration business consists of services for users to interact with and access the computers devices data and people that make up their digital world. join.me join.me pro and join.me enterprise are its free and premium browser-based online meeting and screen sharing services that give users the ability to host an online meeting with other people.

LogMeIn Inc

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