LogMeIn (NASDAQ:LOGM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “LogMeIn delivered strong first-quarter 2019 results with better-than-expected earnings and revenues. The company benefited from a sturdy product portfolio comprising Jive, Bold360 ai and LastPass. Good renewal performance in the company’s remote access space, which consists of Pro, Central and GoToMyPC, is also encouraging. Digital evolution and the company’s adoption of artificial intelligence-based solutions to enhance customer relations are a tailwind. Investments in the GoTo brand as well as in boosting sales capacity will drive the company’s future performance. The newly launched GoToConnect and GoToRoom products also make the management optimistic. However, exorbitant expenses on sales and marketing weigh on the company’s bottom line. Intensifying competition from Adobe Connect, Google and Microsoft Skype put a dampener on the company. Its shares have lagged the industry year to date.”

Other analysts have also issued reports about the stock. BidaskClub lowered shares of LogMeIn from a “buy” rating to a “hold” rating in a report on Monday. ValuEngine lowered shares of LogMeIn from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Mizuho started coverage on shares of LogMeIn in a report on Wednesday, March 13th. They issued a “neutral” rating and a $88.00 price objective for the company. Oppenheimer lowered shares of LogMeIn from an “outperform” rating to a “market perform” rating and set a $105.00 price objective for the company. in a report on Friday, February 15th. Finally, Needham & Company LLC lowered shares of LogMeIn from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. LogMeIn has an average rating of “Hold” and a consensus price target of $94.90.

LogMeIn stock opened at $75.66 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.77 billion, a PE ratio of 16.63, a PEG ratio of 1.60 and a beta of 1.02. LogMeIn has a 1-year low of $74.73 and a 1-year high of $114.45.

LogMeIn (NASDAQ:LOGM) last posted its earnings results on Thursday, April 25th. The software maker reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.27. The company had revenue of $307.70 million during the quarter, compared to analyst estimates of $305.57 million. LogMeIn had a net margin of 2.89% and a return on equity of 7.68%. LogMeIn’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 earnings per share. Sell-side analysts predict that LogMeIn will post 3.86 earnings per share for the current year.

In other LogMeIn news, Director Michael K. Simon sold 22,500 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $81.17, for a total value of $1,826,325.00. Following the completion of the sale, the director now directly owns 547,074 shares in the company, valued at $44,405,996.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 90,000 shares of company stock valued at $7,210,575 over the last 90 days. 2.40% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of LOGM. Cerebellum GP LLC bought a new stake in shares of LogMeIn during the first quarter valued at approximately $117,000. Bernzott Capital Advisors increased its position in shares of LogMeIn by 0.8% during the first quarter. Bernzott Capital Advisors now owns 347,140 shares of the software maker’s stock valued at $27,806,000 after acquiring an additional 2,835 shares in the last quarter. Man Group plc increased its position in shares of LogMeIn by 1.3% during the first quarter. Man Group plc now owns 203,698 shares of the software maker’s stock valued at $16,316,000 after acquiring an additional 2,631 shares in the last quarter. M&T Bank Corp increased its position in shares of LogMeIn by 360.3% during the first quarter. M&T Bank Corp now owns 12,478 shares of the software maker’s stock valued at $1,000,000 after acquiring an additional 9,767 shares in the last quarter. Finally, SEI Investments Co increased its position in shares of LogMeIn by 118.8% during the first quarter. SEI Investments Co now owns 144,719 shares of the software maker’s stock valued at $11,593,000 after acquiring an additional 78,588 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

About LogMeIn

LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.

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