Analysts expect LogMeIn Inc (NASDAQ:LOGM) to report $305.17 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for LogMeIn’s earnings, with the lowest sales estimate coming in at $304.43 million and the highest estimate coming in at $305.80 million. LogMeIn reported sales of $257.03 million during the same quarter last year, which indicates a positive year over year growth rate of 18.7%. The firm is expected to issue its next earnings results on Thursday, July 26th.
According to Zacks, analysts expect that LogMeIn will report full year sales of $1.22 billion for the current fiscal year, with estimates ranging from $1.21 billion to $1.22 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.31 billion per share, with estimates ranging from $1.29 billion to $1.34 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow LogMeIn.
LogMeIn (NASDAQ:LOGM) last posted its quarterly earnings data on Thursday, April 26th. The software maker reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.03. The company had revenue of $280.30 million during the quarter, compared to analyst estimates of $277.43 million. LogMeIn had a net margin of 13.67% and a return on equity of 6.31%. The company’s revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the business posted $0.85 earnings per share.
Several analysts have recently weighed in on the stock. BidaskClub raised shares of LogMeIn from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 15th. Zacks Investment Research lowered shares of LogMeIn from a “buy” rating to a “sell” rating in a report on Thursday, April 19th. Robert W. Baird reaffirmed a “buy” rating and set a $145.00 price objective on shares of LogMeIn in a report on Sunday, April 29th. ValuEngine lowered shares of LogMeIn from a “hold” rating to a “sell” rating in a report on Friday, April 27th. Finally, TheStreet lowered shares of LogMeIn from a “b” rating to a “c+” rating in a report on Thursday, April 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. LogMeIn has an average rating of “Buy” and an average target price of $142.56.
In related news, Director Michael K. Simon sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $110.03, for a total value of $2,200,600.00. Following the completion of the sale, the director now owns 738,171 shares of the company’s stock, valued at $81,220,955.13. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher Battles sold 1,772 shares of the firm’s stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $116.20, for a total transaction of $205,906.40. Following the completion of the sale, the insider now directly owns 4,506 shares of the company’s stock, valued at approximately $523,597.20. The disclosure for this sale can be found here. In the last three months, insiders sold 143,081 shares of company stock valued at $15,752,754. 2.50% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Summit Trail Advisors LLC increased its holdings in shares of LogMeIn by 10,016.5% in the first quarter. Summit Trail Advisors LLC now owns 143,452 shares of the software maker’s stock valued at $143,000 after purchasing an additional 142,034 shares in the last quarter. Assetmark Inc. boosted its stake in LogMeIn by 77.5% in the first quarter. Assetmark Inc. now owns 1,436 shares of the software maker’s stock valued at $166,000 after acquiring an additional 627 shares during the last quarter. Jefferies Group LLC bought a new position in LogMeIn in the fourth quarter valued at approximately $206,000. Silvant Capital Management LLC bought a new position in LogMeIn in the first quarter valued at approximately $267,000. Finally, Oppenheimer & Co. Inc. bought a new position in LogMeIn in the fourth quarter valued at approximately $317,000. 99.23% of the stock is owned by institutional investors and hedge funds.
Shares of LogMeIn traded down $3.85, hitting $107.55, during mid-day trading on Tuesday, according to Marketbeat Ratings. 861,937 shares of the stock were exchanged, compared to its average volume of 599,984. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 1.53 and a beta of 1.35. LogMeIn has a twelve month low of $103.00 and a twelve month high of $134.80.
The business also recently declared a quarterly dividend, which was paid on Friday, May 25th. Investors of record on Wednesday, May 9th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Tuesday, May 8th. LogMeIn’s dividend payout ratio is currently 35.82%.
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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