LogMeIn (NASDAQ:LOGM) had its target price raised by Needham & Company LLC from $130.00 to $140.00 in a research report released on Friday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the software maker’s stock.
A number of other equities research analysts have also weighed in on the stock. BidaskClub upgraded shares of LogMeIn from a buy rating to a strong-buy rating in a report on Saturday, February 10th. Zacks Investment Research upgraded shares of LogMeIn from a hold rating to a buy rating and set a $135.00 target price on the stock in a report on Wednesday, November 1st. Oppenheimer restated a hold rating on shares of LogMeIn in a report on Wednesday, December 20th. Barclays upped their target price on shares of LogMeIn from $132.00 to $142.00 and gave the stock an overweight rating in a report on Friday, October 27th. Finally, Piper Jaffray Companies restated a buy rating and issued a $170.00 target price on shares of LogMeIn in a report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $137.63.
LogMeIn (LOGM) opened at $122.45 on Friday. LogMeIn has a fifty-two week low of $90.35 and a fifty-two week high of $134.80. The firm has a market cap of $6,450.00, a PE ratio of 720.29, a PEG ratio of 1.74 and a beta of 1.36.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Monday, February 12th will be paid a $0.30 dividend. This is a positive change from LogMeIn’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 9th. This represents a $1.20 annualized dividend and a yield of 0.98%. LogMeIn’s dividend payout ratio (DPR) is 705.88%.
Large investors have recently bought and sold shares of the business. Reliance Trust Co. of Delaware purchased a new stake in LogMeIn in the 3rd quarter valued at about $201,000. Stephens Inc. AR purchased a new stake in LogMeIn in the 3rd quarter valued at about $202,000. Bray Capital Advisors purchased a new stake in LogMeIn in the 4th quarter valued at about $204,000. C M Bidwell & Associates Ltd. purchased a new stake in LogMeIn in the 4th quarter valued at about $206,000. Finally, Jefferies Group LLC purchased a new stake in LogMeIn in the 4th quarter valued at about $206,000. Hedge funds and other institutional investors own 99.23% of the company’s stock.
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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.
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