Somewhat Favorable Media Coverage Likely to Impact LogMein (LOGM) Stock Price

Media coverage about LogMein (NASDAQ:LOGM) has been trending somewhat positive on Sunday, Accern reports. Accern rates the sentiment of press coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. LogMein earned a news impact score of 0.17 on Accern’s scale. Accern also assigned news stories about the software maker an impact score of 77 out of 100, indicating that recent press coverage is likely to have an impact on the company’s share price in the next few days.

Here are some of the media headlines that may have effected Accern’s rankings:

Shares of LogMein (LOGM) opened at 116.20 on Friday. The firm’s 50-day moving average is $109.66 and its 200 day moving average is $105.50. LogMein has a 1-year low of $79.63 and a 1-year high of $123.95. The stock’s market capitalization is $6.13 billion.

LogMein (NASDAQ:LOGM) last announced its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.93 by $0.08. LogMein had a positive return on equity of 7.67% and a negative net margin of 0.41%. The company had revenue of $266.95 million for the quarter, compared to the consensus estimate of $264.95 million. During the same quarter last year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 220.6% compared to the same quarter last year. On average, analysts expect that LogMein will post $3.87 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on the stock. KeyCorp upgraded shares of LogMein from a “sector weight” rating to an “overweight” rating in a report on Friday. Northland Securities reaffirmed a “buy” rating on shares of LogMein in a research report on Friday. BidaskClub raised shares of LogMein from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Piper Jaffray Companies reissued an “overweight” rating and set a $150.00 price objective on shares of LogMein in a research report on Friday, June 23rd. Finally, Cowen and Company raised their price objective on shares of LogMein from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. LogMein currently has an average rating of “Buy” and an average price target of $121.46.

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In other news, SVP Lawrence M. D’angelo sold 4,412 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $109.99, for a total value of $485,275.88. Following the completion of the sale, the senior vice president now directly owns 6,476 shares of the company’s stock, valued at $712,295.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael K. Simon sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $113.93, for a total value of $2,278,600.00. Following the completion of the sale, the director now directly owns 795,883 shares of the company’s stock, valued at $90,674,950.19. The disclosure for this sale can be found here. In the last quarter, insiders have sold 107,081 shares of company stock worth $12,073,839. Corporate insiders own 2.50% of the company’s stock.

LogMein Company Profile

LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.

Insider Buying and Selling by Quarter for LogMein (NASDAQ:LOGM)

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