Stock On Watch: What Next for LogMeIn Inc Stock After Today’s Big Increase?

Stock On Watch: What Next for LogMeIn Inc Stock After Today's Big Increase?

The stock of LogMeIn Inc (NASDAQ:LOGM) is a huge mover today! About 379,137 shares traded hands or 10.07% up from the average. LogMeIn Inc (NASDAQ:LOGM) has risen 77.58% since February 29, 2016 and is uptrending. It has outperformed by 65.37% the S&P500.
The move comes after 6 months positive chart setup for the $2.37B company. It was reported on Oct, 3 by Barchart.com. We have $116.65 PT which if reached, will make NASDAQ:LOGM worth $592.50 million more.

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 $7.11 million for 83.32 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. Northland Capital maintained LogMeIn Inc (NASDAQ:LOGM) on Friday, July 24 with “Outperform” rating. The stock of LogMeIn Inc (NASDAQ:LOGM) earned “Buy” rating by Dougherty & Company on Friday, April 29. RBC Capital Markets maintained it with “Outperform” rating and $70 target price in Friday, April 29 report. On Tuesday, August 25 the stock rating was upgraded by TheStreet to “Hold”. The firm earned “Underweight” rating on Wednesday, July 27 by Barclays Capital. The rating was maintained by Needham with “Strong Buy” on Friday, July 24. Needham maintained the stock with “Strong Buy” rating in Friday, February 12 report. On Friday, August 28 the stock rating was upgraded by Pacific Crest to “Overweight”. RBC Capital Markets maintained LogMeIn Inc (NASDAQ:LOGM) on Friday, July 24 with “Outperform” rating. The firm earned “Overweight” rating on Friday, August 28 by KeyBanc 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 2016 Q2. 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.
Goldman Sachs Grp Inc has 75,168 shares for 0% of their US portfolio. Timpani Cap Mgmt Ltd Liability Com holds 1.68% of its portfolio in LogMeIn Inc (NASDAQ:LOGM) for 62,445 shares. State Board Of Administration Of Florida Retirement Sys accumulated 14,959 shares or 0% of the stock. State Street Corporation accumulated 0% or 483,273 shares. Smithfield Trust accumulated 105 shares or 0% of the stock. Profund Advsrs Ltd Llc last reported 3,329 shares in the company. Century Companies last reported 0.02% of its portfolio in the stock. Moreover, Paradigm Asset Management Co Limited Co has 0% invested in LogMeIn Inc (NASDAQ:LOGM) for 3,600 shares. Hood River Capital Limited Liability holds 1.05% or 123,909 shares in its portfolio. Thomson Horstmann & Bryant has invested 0.11% of its portfolio in LogMeIn Inc (NASDAQ:LOGM). Champlain Inv Prns Ltd Company reported 1.15M shares or 1.25% of all its holdings. California Pub Employees Retirement System holds 0.01% of its portfolio in LogMeIn Inc (NASDAQ:LOGM) for 78,300 shares. Manufacturers Life Ins Com The has 0.01% invested in the company for 70,025 shares. Aperio Group Llc last reported 7,058 shares in the company. Credit Suisse Ag accumulated 0% or 22,556 shares.

Insider Transactions: Since May 3, 2016, the stock had 0 insider buys, and 12 selling transactions for $15.38 million net activity. Simon Michael K sold 11,296 shares worth $706,240. 500 LogMeIn Inc (NASDAQ:LOGM) shares with value of $41,600 were sold by MATZ MARILYN. On Tuesday, August 16 Donahue Michael J sold $331,504 worth of the stock or 4,137 shares. GILLIS EDWIN J had sold 52,800 shares worth $4.50M. $383,289 worth of LogMeIn Inc (NASDAQ:LOGM) was sold by CHAMBERS STEVEN G on Friday, July 29. Ford W. Sean sold $478,366 worth of LogMeIn Inc (NASDAQ:LOGM) on Tuesday, May 3. 11,891 shares were sold by D’Angelo Lawrence M., worth $741,965 on Thursday, June 2.

More recent LogMeIn Inc (NASDAQ:LOGM) news were published by: Fool.com which released: “LogMeIn Upgraded Ahead of Merger: 3 Things You Need to Know” 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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