$326.10 Million in Sales Expected for LogMeIn Inc (NASDAQ:LOGM) This Quarter

Brokerages expect LogMeIn Inc (NASDAQ:LOGM) to announce sales of $326.10 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for LogMeIn’s earnings, with the highest sales estimate coming in at $328.10 million and the lowest estimate coming in at $324.40 million. LogMeIn reported sales of $313.39 million during the same quarter last year, which indicates a positive year over year growth rate of 4.1%. The business is scheduled to issue its next quarterly earnings results on Thursday, July 23rd.

On average, analysts expect that LogMeIn will report full year sales of $1.32 billion for the current fiscal year, with estimates ranging from $1.31 billion to $1.33 billion. For the next financial year, analysts expect that the business will report sales of $1.40 billion, with estimates ranging from $1.40 billion to $1.41 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover LogMeIn.

LogMeIn (NASDAQ:LOGM) last announced its earnings results on Thursday, April 23rd. The software maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. LogMeIn had a negative net margin of 1.32% and a positive return on equity of 7.31%. The firm had revenue of $322.38 million during the quarter, compared to the consensus estimate of $323.36 million. During the same quarter in the previous year, the company posted $1.17 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis.

Several research analysts recently weighed in on the stock. ValuEngine downgraded shares of LogMeIn from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research raised shares of LogMeIn from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research note on Wednesday, April 29th. Finally, BidaskClub downgraded shares of LogMeIn from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 18th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $83.38.

LOGM stock traded down $0.05 during trading on Friday, hitting $85.36. The stock had a trading volume of 715,690 shares, compared to its average volume of 591,544. The company’s 50 day moving average price is $84.92 and its two-hundred day moving average price is $84.72. LogMeIn has a 1-year low of $62.02 and a 1-year high of $86.63. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of -251.05, a price-to-earnings-growth ratio of 4.33 and a beta of 0.77. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.61 and a current ratio of 0.61.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. increased its position in LogMeIn by 719.3% during the 1st quarter. Rockefeller Capital Management L.P. now owns 467 shares of the software maker’s stock worth $39,000 after purchasing an additional 410 shares in the last quarter. Fieldpoint Private Securities LLC increased its position in LogMeIn by 66.9% during the 4th quarter. Fieldpoint Private Securities LLC now owns 631 shares of the software maker’s stock worth $54,000 after purchasing an additional 253 shares in the last quarter. FinTrust Capital Advisors LLC boosted its holdings in LogMeIn by 1,213.7% in the 1st quarter. FinTrust Capital Advisors LLC now owns 670 shares of the software maker’s stock worth $56,000 after acquiring an additional 619 shares during the period. Signaturefd LLC boosted its holdings in LogMeIn by 1,110.3% in the 1st quarter. Signaturefd LLC now owns 702 shares of the software maker’s stock worth $58,000 after acquiring an additional 644 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in LogMeIn by 24.9% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 844 shares of the software maker’s stock worth $49,000 after acquiring an additional 168 shares during the period. 93.33% of the stock is owned by hedge funds and other institutional investors.

LogMeIn Company Profile

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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Earnings History and Estimates for LogMeIn (NASDAQ:LOGM)

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