Notable Price Action: Is LogMeIn Inc a Buy? The Stock Reaches All Time High Today

Notable Price Action: Is LogMeIn Inc a Buy? The Stock Reaches All Time High Today

The stock of LogMeIn Inc (NASDAQ:LOGM) reached all time high today, Nov, 22 and still has $109.90 target or 3.00% above today’s $106.70 share price. This indicates more upside for the $2.76B company. This technical setup was reported by Barchart.com. If the $109.90 PT is reached, the company will be worth $82.80 million 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 299,328 shares traded hands or 6.66% up from the average. LogMeIn Inc (NASDAQ:LOGM) has risen 112.55% since April 20, 2016 and is uptrending. It has outperformed by 107.99% 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. RBC Capital Markets maintained it with “Outperform” rating and $65 target price in Friday, February 12 report. On Monday, October 3 the stock rating was upgraded by Barclays Capital to “Overweight”. The firm earned “Overweight” rating on Friday, August 28 by KeyBanc Capital Markets. The firm has “Overweight” rating by JP Morgan given on Wednesday, July 27. The company was maintained on Friday, October 14 by Needham. The firm has “Strong Buy” rating given on Friday, February 12 by Needham. On Friday, April 29 the stock rating was maintained by Dougherty & Company with “Buy”. The stock of LogMeIn Inc (NASDAQ:LOGM) earned “Strong-Buy” rating by Needham on Thursday, September 3. The firm has “Strong Buy” rating by Needham given on Friday, July 24. The stock has “Outperform” rating given by RBC Capital Markets on Friday, July 24.

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 Q2 2016. Its up 0.01, from 1.04 in 2016Q1. The ratio increased, 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.
Tiaa Cref Investment Ltd Limited Liability Company holds 0.01% of its portfolio in LogMeIn Inc (NASDAQ:LOGM) for 125,908 shares. Water Island Ltd Liability Corporation reported 8,024 shares or 0.03% of all its holdings. Deutsche National Bank Ag has 206,421 shares for 0.01% of their US portfolio. Sei Invs Company has 0% invested in the company for 11,470 shares. Ameriprise Fin last reported 235,334 shares in the company. Moreover, Pdts Prtn Lc has 0.14% invested in LogMeIn Inc (NASDAQ:LOGM) for 28,610 shares. California State Teachers Retirement Systems reported 52,915 shares or 0.01% of all its holdings. Blackrock Inv Lc last reported 0.01% of its portfolio in the stock. Adams Diversified Equity Fund accumulated 5,800 shares or 0.02% of the stock. Moreover, Ashford Mngmt has 3.2% invested in LogMeIn Inc (NASDAQ:LOGM) for 225,334 shares. Great West Life Assurance Can holds 2,179 shares or 0% of its portfolio. Teacher Retirement Sys Of Texas has 3,509 shares for 0% of their US portfolio. Blackrock Incorporated, a New York-based fund reported 10,725 shares. Ubs Asset Management Americas has 31,660 shares for 0% of their US portfolio. First Mercantile Trust last reported 5,300 shares in the company.

Insider Transactions: Since June 2, 2016, the stock had 0 insider purchases, and 10 selling transactions for $18.72 million net activity. $509,801 worth of shares were sold by Donahue Michael J on Friday, July 29. Simon Michael K sold $706,240 worth of LogMeIn Inc (NASDAQ:LOGM) on Thursday, June 9. 500 LogMeIn Inc (NASDAQ:LOGM) shares with value of $41,600 were sold by MATZ MARILYN. CHAMBERS STEVEN G sold $383,289 worth of stock. GILLIS EDWIN J also sold $4.50M worth of LogMeIn Inc (NASDAQ:LOGM) shares. 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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