LogMeIn (LOGM) received a Hold rating from Oppenheimer analyst Shaul Eyal today. The company’s shares closed yesterday at $95.94.
Eyal noted:
“We are downgrading the shares of LOGM to Perform and removing our $105 PT. Our downgrade is driven by the following: 1) LOGM is embarking on an investment cycle to propel its growth areas (UCC, CES/bold360, IDaaS) targeting LT double digit-growth by FY21; given the competitive dynamics of these end markets as well as internal execution risk, we see an elevated execution risk profile. 2) Whereas solid 4Q18 results indicated a sequential improvement, FY19/20 EPS estimates are significantly revised downward accounting for the higher investments. 3) We are uncertain whether this move is triggered by market strength or the need to defend an uncertain future. Note: This rating change could prove wrong if either Elliott (2.4% owner) and/or Thoma Bravo (2.5% owner) become activists.”
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 16.5% and a 69.0% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, Verint Systems Inc, and Varonis Systems.
LogMeIn has an analyst consensus of Moderate Buy, with a price target consensus of $105.
See today’s analyst top recommended stocks >>
The company has a one-year high of $129.94 and a one-year low of $74.87. Currently, LogMeIn has an average volume of 646.8K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
LogMeIn, Inc. engages in the development and market of remote access, remote support and collaboration solutions that provide instant, secure connections between internet enabled devices. It operates through the following geographical segments: United States; United Kingdom; and International and All Other.
