Northland Securities analyst Tim Klasell maintained a Buy rating on LogMeIn (LOGM) today and set a price target of $125. The company’s shares closed yesterday at $69.92, close to its 52-week low of $68.
Klasell noted:
“We are also modeling an extra $62mn in spend next year, mostly in S&M, as the company invests to go after the UCC market.”
According to TipRanks.com, Klasell is a 5-star analyst with an average return of 17.9% and a 69.9% success rate. Klasell covers the Technology sector, focusing on stocks such as ServiceSource International Inc, Tyler Technologies, and Zix Corporation.
LogMeIn has an analyst consensus of Hold, with a price target consensus of $91.
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Based on LogMeIn’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $9.04 million. In comparison, last year the company had a net profit of $29.71 million.
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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.
