LogMeIn, Inc. (LOGM) Expected to Post Quarterly Sales of $277.46 Million

Equities research analysts predict that LogMeIn, Inc. (NASDAQ:LOGM) will announce sales of $277.46 million for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for LogMeIn’s earnings. The lowest sales estimate is $276.43 million and the highest is $277.95 million. LogMeIn reported sales of $187.46 million in the same quarter last year, which would suggest a positive year over year growth rate of 48%. The firm is expected to report its next earnings results after the market closes on Thursday, April 26th.

On average, analysts expect that LogMeIn will report full year sales of $1.15 billion for the current fiscal year, with estimates ranging from $1.14 billion to $1.21 billion. For the next year, analysts anticipate that the company will report sales of $1.24 billion per share, with estimates ranging from $1.21 billion to $1.31 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for LogMeIn.

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LogMeIn (NASDAQ:LOGM) last released its quarterly earnings results on Thursday, February 15th. The software maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. LogMeIn had a net margin of 10.06% and a return on equity of 5.57%. The company had revenue of $276.03 million for the quarter, compared to analyst estimates of $276.75 million. During the same period last year, the firm earned $0.62 earnings per share. The firm’s revenue was up 213.8% on a year-over-year basis.

A number of research firms recently weighed in on LOGM. KeyCorp began coverage on shares of LogMeIn in a research report on Friday, April 6th. They set an “overweight” rating and a $135.00 price target on the stock. Mizuho began coverage on shares of LogMeIn in a research report on Monday, April 2nd. They set a “buy” rating and a $145.00 price target on the stock. Zacks Investment Research raised shares of LogMeIn from a “sell” rating to a “buy” rating and set a $131.00 price target on the stock in a research report on Thursday. BidaskClub lowered shares of LogMeIn from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 28th. Finally, Oppenheimer restated a “hold” rating on shares of LogMeIn in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $137.97.

Shares of LOGM traded up $1.90 during trading hours on Wednesday, reaching $119.15. 286,343 shares of the stock traded hands, compared to its average volume of 537,278. LogMeIn has a 52 week low of $102.25 and a 52 week high of $134.80. The firm has a market capitalization of $6,147.54, a P/E ratio of 35.57, a PEG ratio of 1.58 and a beta of 1.40.

A number of hedge funds and other institutional investors have recently bought and sold shares of LOGM. Bessemer Group Inc. increased its holdings in LogMeIn by 346,435.8% during the fourth quarter. Bessemer Group Inc. now owns 571,784 shares of the software maker’s stock worth $65,470,000 after buying an additional 571,619 shares during the last quarter. Wells Fargo & Company MN increased its holdings in LogMeIn by 31.8% during the fourth quarter. Wells Fargo & Company MN now owns 2,005,473 shares of the software maker’s stock worth $229,626,000 after buying an additional 483,790 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in LogMeIn by 30.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,915,622 shares of the software maker’s stock worth $219,338,000 after buying an additional 446,395 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in LogMeIn during the fourth quarter worth about $41,777,000. Finally, JPMorgan Chase & Co. increased its holdings in LogMeIn by 341.2% during the third quarter. JPMorgan Chase & Co. now owns 330,181 shares of the software maker’s stock worth $35,429,000 after buying an additional 255,338 shares during the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

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LogMeIn Company Profile

LogMeIn, Inc, together with its subsidiaries, provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions for individuals and businesses in the United States, the United Kingdom, and internationally. The company offers GoToMeeting, a secure product for online meetings, sales demonstrations, and collaborative gatherings; GoToTraining, a secure online training product for interactive training sessions; GoToConference, a video and audio conferencing solution; GoToWebinar, a do-it-yourself Webinar product for organizations; join.me, join.me pro, and join.me business, which are online meeting and screen sharing services; OpenVoice, a reservation-less audio conferencing service; and Grasshopper, a provider of telephony solutions.

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