Stock Mover of The Day: LogMeIn Inc’s Stock Is Buy After Reaching Record High

Stock Mover of The Day: LogMeIn Inc's Stock Is Buy After Reaching Record High

The stock of LogMeIn Inc (NASDAQ:LOGM) reached all time high today, Oct, 3 and still has $114.98 target or 23.00% above today’s $93.48 share price. This indicates more upside for the $2.37 billion company. This technical setup was reported by Barchart.com. If the $114.98 PT is reached, the company will be worth $545.10M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 277,708 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 EPS, down 3.45% or $0.01 from last year’s $0.29 per share. LOGM’s profit will be $7.10M for 83.46 P/E if the $0.28 EPS becomes a reality. After $0.24 actual EPS 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 stock has “Sector Weight” rating given by Pacific Crest on Wednesday, July 27. Needham maintained LogMeIn Inc (NASDAQ:LOGM) rating on Friday, February 12. Needham has “Strong Buy” rating and $57 price target. The firm earned “Underweight” rating on Wednesday, July 27 by Barclays Capital. The stock of LogMeIn Inc (NASDAQ:LOGM) earned “Outperform” rating by Northland Capital on Friday, July 24. RBC Capital Markets maintained it with “Outperform” rating and $70 target price in Friday, April 29 report. The rating was upgraded by JP Morgan on Wednesday, July 27 to “Overweight”. The stock has “Strong-Buy” rating given by Needham on Thursday, September 3. RBC Capital Markets maintained LogMeIn Inc (NASDAQ:LOGM) rating on Friday, February 12. RBC Capital Markets has “Outperform” rating and $65 price target. Needham maintained the stock with “Strong Buy” rating in Friday, July 24 report. The firm earned “Outperform” rating on Friday, July 24 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 improved, 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.
Mesirow Fincl Mgmt, a Alabama-based fund reported 272,571 shares. Ftb Advisors accumulated 0% or 375 shares. Bnp Paribas Arbitrage owns 7,811 shares or 0% of their US portfolio. Victory Cap Mgmt has 0% invested in the company for 2,069 shares. Invesco Limited last reported 0% of its portfolio in the stock. Water Island Limited Company has 8,024 shares for 0.03% of their US portfolio. Bancorp Of Montreal Can holds 0.02% or 241,177 shares in its portfolio. Employees Retirement Sys Of Texas accumulated 0.04% or 46,000 shares. Price T Rowe Associates Md last reported 0% of its portfolio in the stock. Ahl Prns Limited Liability Partnership accumulated 0.04% or 10,751 shares. Blackrock Grp Inc Ltd owns 66,592 shares or 0% of their US portfolio. Kalmar Invests De last reported 156,685 shares in the company. Trillium Asset Mngmt Ltd Liability owns 31,439 shares or 0.13% of their US portfolio. Arizona State Retirement System holds 0.01% or 12,937 shares in its portfolio. The Michigan-based Plante Moran Advisors has invested 0% in LogMeIn Inc (NASDAQ:LOGM).

Insider Transactions: Since May 3, 2016, the stock had 0 insider buys, and 12 insider sales for $15.38 million net activity. The insider Donahue Michael J sold 6,034 shares worth $509,801. The insider D’Angelo Lawrence M. sold 11,891 shares worth $741,965. The insider Simon Michael K sold 11,296 shares worth $706,240. $4.50 million worth of LogMeIn Inc (NASDAQ:LOGM) shares were sold by GILLIS EDWIN J. CHAMBERS STEVEN G had sold 4,540 shares worth $383,289. Shares for $41,600 were sold by MATZ MARILYN on Wednesday, August 10. Another trade for 7,881 shares valued at $478,366 was made by Ford W. Sean on Tuesday, May 3.

More news for LogMeIn Inc (NASDAQ:LOGM) were recently published by: Fool.com, which released: “Why LogMeIn, Inc. Shares Jumped Today” on July 27, 2016. Fool.com‘s article titled: “Here’s Why LogMeIn Inc Shares Rose 32% in July” and published on August 07, 2016 is yet another important article.

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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