The stock of LogMeIn Inc (NASDAQ:LOGM) hit a new 52-week high and has $155.80 target or 64.00% above today’s $95.00 share price. The 8 months bullish chart indicates low risk for the $2.36 billion company. The 1-year high was reported on Oct, 28 by Barchart.com. If the $155.80 price target is reached, the company will be worth $1.51B 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 491,957 shares traded hands or 77.52% up from the average. LogMeIn Inc (NASDAQ:LOGM) has risen 76.62% since March 28, 2016 and is uptrending. It has outperformed by 71.91% 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. On Friday, October 23 the stock rating was maintained by RBC Capital Markets with “Outperform”. The firm earned “Overweight” rating on Friday, August 28 by KeyBanc Capital Markets. The stock of LogMeIn Inc (NASDAQ:LOGM) has “Strong Buy” rating given on Friday, July 24 by Needham. On Friday, April 29 the stock rating was maintained by RBC Capital Markets with “Outperform”. The company was maintained on Friday, April 29 by Dougherty & Company. JP Morgan upgraded the shares of LOGM in a report on Wednesday, July 27 to “Overweight” rating. The firm has “Hold” rating given on Tuesday, August 25 by TheStreet. Barclays Capital maintained the stock with “Underweight” rating in Wednesday, July 27 report. On Friday, October 14 the stock rating was maintained by Needham with “Strong Buy”. As per Friday, July 24, the company rating was maintained by Northland Capital.
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 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.
Moreover, Us Bank De has 0% invested in LogMeIn Inc (NASDAQ:LOGM) for 4,218 shares. Smithfield Trust last reported 105 shares in the company. Ridgeworth Capital Mngmt Ltd Co accumulated 7,064 shares or 0% of the stock. Peconic Lc has invested 0.04% of its portfolio in LogMeIn Inc (NASDAQ:LOGM). Moreover, Amer Century has 0.02% invested in LogMeIn Inc (NASDAQ:LOGM) for 225,158 shares. Nuveen Asset Mgmt Limited Liability Corporation last reported 24,021 shares in the company. Barclays Public Ltd Co owns 144 shares or 0% of their US portfolio. Gemmer Asset Ltd Liability Co reported 52 shares or 0% of all its holdings. California State Teachers Retirement System holds 52,915 shares or 0.01% of its portfolio. Employees Retirement Systems Of Texas, a Texas-based fund reported 46,000 shares. Creative Planning holds 571 shares or 0% of its portfolio. Blackrock Fund Advisors has invested 0.02% of its portfolio in LogMeIn Inc (NASDAQ:LOGM). Goldman Sachs Group holds 0% of its portfolio in LogMeIn Inc (NASDAQ:LOGM) for 75,168 shares. G2 Invest Partners Management Limited Liability Co holds 85,848 shares or 2.51% of its portfolio. Invesco Ltd last reported 0% of its portfolio in the stock.
Insider Transactions: Since May 3, 2016, the stock had 0 buys, and 12 insider sales for $15.38 million net activity. $509,801 worth of LogMeIn Inc (NASDAQ:LOGM) shares were sold by Donahue Michael J. Simon Michael K also sold $706,240 worth of LogMeIn Inc (NASDAQ:LOGM) on Thursday, June 9. The insider CHAMBERS STEVEN G sold $383,289. 11,891 shares were sold by D’Angelo Lawrence M., worth $741,965. 7,881 shares with value of $478,366 were sold by Ford W. Sean on Tuesday, May 3. $41,600 worth of shares were sold by MATZ MARILYN on Wednesday, August 10. GILLIS EDWIN J sold $4.50 million worth of LogMeIn Inc (NASDAQ:LOGM) on Friday, July 29.
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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