LogMeIn Inc (LOGM) is Reiterated by Needham to Strong Buy, Raises Price Target to $ 114

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 $ 114 from a previous price target of $98 . Needham advised their investors in a research report released on Oct 14, 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 .Company shares were Reiterated by Needham on Jul 27, 2016 to “Strong Buy”, Firm has raised the Price Target to $ 98 from a previous price target of $81 .LogMeIn Inc was Upgraded by JP Morgan to ” Overweight” 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 closed down -1.94 points or -2.08% at $91.33 with 1,97,957 shares getting traded on Tuesday. Post opening the session at $93.36, the shares hit an intraday low of $90.22 and an intraday high of $93.43 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Sep 16, 2016, Edwin J Gillis (director) sold 26,400 shares at $85.29 per share price. According to the SEC, on Aug 18, 2016, Michael J Donahue (SVP and General Counsel) sold 4,137 shares at $80.13 per share price. On Aug 12, 2016, Marilyn Matz (director) sold 500 shares at $83.20 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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