Noteworthy Price Action: Is LogMeIn Inc a Buy? The Stock Reaches 52-Week High Today

Noteworthy Price Action: Is LogMeIn Inc a Buy? The Stock Reaches 52 Week High Today

The stock of LogMeIn Inc (NASDAQ:LOGM) hit a new 52-week high and has $112.98 target or 21.00% above today’s $93.37 share price. The 9 months bullish chart indicates low risk for the $2.37B company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $112.98 price target is reached, the company will be worth $497.70M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 217,128 shares traded hands. LogMeIn Inc (NASDAQ:LOGM) has risen 77.58% since February 29, 2016 and is uptrending. It has outperformed by 65.37% the S&P500.

Analysts await LogMeIn Inc (NASDAQ:LOGM) to report earnings on October, 27. They expect $0.28 earnings per share, down 3.45% or $0.01 from last year’s $0.29 per share. LOGM’s profit will be $7.11M for 83.37 P/E if the $0.28 EPS becomes a reality. After $0.24 actual earnings per share reported by LogMeIn Inc for the previous quarter, Wall Street now forecasts 16.67% EPS growth.

LogMeIn Inc (NASDAQ:LOGM) Ratings Coverage

Out of 9 analysts covering LogMeIn (NASDAQ:LOGM), 7 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 78% are positive. LogMeIn has been the topic of 19 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was maintained by Barclays Capital with “Underweight” on Wednesday, July 27. The firm has “Sector Weight” rating by Pacific Crest given on Wednesday, July 27. On Friday, July 24 the stock rating was maintained by Needham with “Strong Buy”. RBC Capital Markets maintained LogMeIn Inc (NASDAQ:LOGM) rating on Friday, February 12. RBC Capital Markets has “Outperform” rating and $65 price target. RBC Capital Markets maintained the shares of LOGM in a report on Friday, October 23 with “Outperform” rating. On Friday, July 24 the stock rating was maintained by Northland Capital with “Outperform”. TheStreet upgraded LogMeIn Inc (NASDAQ:LOGM) on Tuesday, August 25 to “Hold” rating. The stock of LogMeIn Inc (NASDAQ:LOGM) has “Overweight” rating given on Wednesday, July 27 by JP Morgan. The stock has “Overweight” rating given by Pacific Crest on Friday, August 28. The firm has “Outperform” rating given on Friday, April 29 by RBC Capital Markets.

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.”

Insitutional Activity: The institutional sentiment increased to 1.04 in Q2 2016. Its up 0.10, from 0.94 in 2016Q1. The ratio is positive, as 28 funds sold all LogMeIn Inc shares owned while 63 reduced positions. 30 funds bought stakes while 65 increased positions. They now own 25.23 million shares or 2.78% less from 25.95 million shares in 2016Q1.
Ubs Asset Management Americas last reported 0% of its portfolio in the stock. Louisiana State Employees Retirement System holds 0.04% of its portfolio in LogMeIn Inc (NASDAQ:LOGM) for 11,100 shares. Light Street Cap Lc holds 6.2% or 535,667 shares in its portfolio. Ahl Prns Limited Liability Partnership last reported 0.04% of its portfolio in the stock. Piermont Cap Mngmt has 0.33% invested in the company for 19,808 shares. California State Teachers Retirement Sys last reported 52,915 shares in the company. Us Bank & Trust De last reported 4,218 shares in the company. Victory Cap holds 0% or 2,069 shares in its portfolio. Amalgamated Fincl Bank has invested 0.01% of its portfolio in LogMeIn Inc (NASDAQ:LOGM). Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 0% or 865 shares. Creative Planning reported 571 shares or 0% of all its holdings. Menta Cap Ltd Liability Corp owns 16,140 shares or 0.14% of their US portfolio. Jacobs Levy Equity Mgmt accumulated 0.01% or 4,450 shares. Principal Financial Group reported 181,777 shares or 0.02% of all its holdings. Blackrock Group Ltd has invested 0% of its portfolio in LogMeIn Inc (NASDAQ:LOGM).

Insider Transactions: Since May 3, 2016, the stock had 0 insider purchases, and 12 sales for $15.38 million net activity. 43,173 LogMeIn Inc (NASDAQ:LOGM) shares with value of $2.72 million were sold by Simon Michael K. $41,600 worth of shares were sold by MATZ MARILYN on Wednesday, August 10. 4,137 shares with value of $331,504 were sold by Donahue Michael J on Tuesday, August 16. D’Angelo Lawrence M. had sold 11,891 shares worth $741,965. $383,289 worth of LogMeIn Inc (NASDAQ:LOGM) was sold by CHAMBERS STEVEN G on Friday, July 29. Herdiech Edward K. sold 8,809 shares worth $527,232. $478,366 worth of shares were sold by Ford W. Sean on Tuesday, May 3.

More recent LogMeIn Inc (NASDAQ:LOGM) news were published by: Benzinga.com which released: “8 Biggest Price Target Changes For Monday” on October 03, 2016. Also Fool.com published the news titled: “Why LogMeIn, Inc. Shares Jumped Today” on July 27, 2016. Fool.com‘s news article titled: “Here’s Why LogMeIn Inc Shares Rose 32% in July” with publication date: August 07, 2016 was also an interesting one.

LOGM Company Profile

LogMeIn, Inc., incorporated on August 3, 2004, provides a portfolio of cloud service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s product line includes AppGuru, BoldChat, Cubby, join.me, LastPass, LogMeIn Pro, LogMeIn Central, LogMeIn Rescue, LogMeIn Rescue+Mobile, LogMeIn Backup, LogMeIn for iOS, LogMeIn Hamachi, MeldiumTM, Xively and RemotelyAnywhere. The Company’s services are focused on markets, such as identity and access management, collaboration and the Internet of Things, and are delivered through the cloud as hosted services, commonly called software-as-a-service (SaaS). The Firm offers both free and fee based, or premium, services. The Company’s core cloud services are categorized into business lines, including Collaboration, Service and Support, Identity and Access Management, and Connected Products.

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