Worth Watching: How Analysts Feel About LogMeIn Inc After Achieving 52-Week High?

Worth Watching: How Analysts Feel About LogMeIn Inc After Achieving 52 Week High?

The stock of LogMeIn Inc (NASDAQ:LOGM) hit a new 52-week high and has $174.99 target or 64.00% above today’s $106.70 share price. The 8 months bullish chart indicates low risk for the $2.86 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $174.99 price target is reached, the company will be worth $1.83 billion 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 255,429 shares traded hands. LogMeIn Inc (NASDAQ:LOGM) has risen 110.23% since April 19, 2016 and is uptrending. It has outperformed by 106.37% the S&P500.

LogMeIn Inc (NASDAQ:LOGM) Ratings Coverage

Out of 9 analysts covering LogMeIn (NASDAQ:LOGM), 8 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 89% are positive. LogMeIn has been the topic of 21 analyst reports since July 24, 2015 according to StockzIntelligence Inc. As per Friday, April 29, the company rating was maintained by Dougherty & Company. The firm has “Strong Buy” rating by Needham given on Friday, February 12. The rating was upgraded by Pacific Crest on Friday, August 28 to “Overweight”. The company was maintained on Friday, July 24 by Northland Capital. Barclays Capital maintained LogMeIn Inc (NASDAQ:LOGM) rating on Wednesday, July 27. Barclays Capital has “Underweight” rating and $82 price target. The firm has “Outperform” rating given on Friday, October 23 by RBC Capital Markets. Needham maintained LogMeIn Inc (NASDAQ:LOGM) on Friday, July 24 with “Strong Buy” rating. The rating was upgraded by TheStreet to “Hold” on Tuesday, August 25. Needham maintained the stock with “Strong-Buy” rating in Thursday, September 3 report. RBC Capital Markets maintained the shares of LOGM in a report on Friday, February 12 with “Outperform” rating.

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 1.05 in 2016 Q2. Its up 0.01, from 1.04 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.
State Of Tennessee Treasury Department, a Tennessee-based fund reported 19,663 shares. The Germany-based Allianz Asset Ag has invested 0% in LogMeIn Inc (NASDAQ:LOGM). Thrivent Fincl For Lutherans has 12,090 shares for 0% of their US portfolio. Los Angeles Equity Inc accumulated 0.01% or 15,000 shares. Geode Ltd Liability Corporation holds 0.01% of its portfolio in LogMeIn Inc (NASDAQ:LOGM) for 178,438 shares. Lombard Odier Transatlantic L P last reported 200 shares in the company. Axiom Invsts Llc De last reported 0.07% of its portfolio in the stock. Schroder Invest Mgmt Gp accumulated 0% or 16,837 shares. Plante Moran Fincl Advsr Limited last reported 49 shares in the company. Mutual Of America Ltd Liability Com accumulated 125,642 shares or 0.17% of the stock. Arizona State Retirement Sys reported 12,937 shares or 0.01% of all its holdings. Bankshares Of Mellon last reported 942,144 shares in the company. Menta Cap Limited Co holds 0.14% of its portfolio in LogMeIn Inc (NASDAQ:LOGM) for 16,140 shares. Polar Capital Ltd Liability Partnership has 0.21% invested in the company for 171,719 shares. Bnp Paribas Arbitrage last reported 0% of its portfolio in the stock.

Insider Transactions: Since June 2, 2016, the stock had 0 insider purchases, and 10 sales for $18.72 million net activity. $331,504 worth of LogMeIn Inc (NASDAQ:LOGM) was sold by Donahue Michael J on Tuesday, August 16. On Friday, July 29 the insider CHAMBERS STEVEN G sold $383,289. Another trade for 50,000 shares valued at $4.58 million was made by Simon Michael K on Thursday, November 3. $4.50 million worth of LogMeIn Inc (NASDAQ:LOGM) shares were sold by GILLIS EDWIN J. On Wednesday, August 10 the insider MATZ MARILYN sold $41,600. D’Angelo Lawrence M. also sold $741,965 worth of LogMeIn Inc (NASDAQ:LOGM) on Thursday, June 2.

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