Cowen & Company Downgrades LogMeIn Inc to Market Perform

Brokerage firm Cowen & Company Downgrades its rating on LogMeIn Inc(NASDAQ:LOGM). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Cowen & Company was issued on Jul 5, 2016.

LogMeIn Inc (LOGM) made into the market gainers list on Fridays trading session with the shares advancing 2.62% or 1.61 points. Due to strong positive momentum, the stock ended at $62.95, which is also near the day’s high of $63.32. The stock began the session at $61.95 and the volume stood at 3,32,182 shares. The 52-week high of the shares is $75.4199 and the 52 week low is $35. The company has a current market capitalization of $1,574 M and it has 2,49,97,869 shares in outstanding.

LogMeIn Inc(LOGM) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $79.73M. Analysts had an estimated revenue of $77.75M. Earnings per share were $0.35. Analysts had estimated an EPS of $0.30.

Several Insider Transactions has been reported to the SEC. On Jun 10, 2016, Michael K Simon (director) sold 11,296 shares at $62.60 per share price.Also, On Jun 3, 2016, Lawrence M. D’angelo (SVP, Sales) sold 11,891 shares at $62.64 per share price.On May 24, 2016, Michael J Donahue (SVP and General Counsel) sold 3,939 shares at $60.13 per share price, according to the Form-4 filing with the securities and exchange commission.

LogMeIn Inc. provides a portfolio of cloud-based service offerings. The Company’s services range from free downloadable mobile and Web-based collaboration apps to enterprise grade professional helpdesk solutions to a cloud-based platform for the Internet of Things all of which are accessible with an Internet connection. The Company’s services are delivered via the cloud as hosted services. The Company offers both free and fee based or premium services. The Company’s core cloud-based services are categorized into four business lines: Collaboration Service and Support Connected Products and Additional Service Offerings. Its collaboration business consists of services for users to interact with and access the computers devices data and people that make up their digital world. pro and enterprise are its free and premium browser-based online meeting and screen sharing services that give users the ability to host an online meeting with other people.

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